Which of the Following Is the Most Accurate Definition of a Worker's

question 69

Multiple Choice

Which of the following is the most accurate definition of a worker's marginal revenue product?

• A) The change in the firm's profits as the result of hiring an additional worker.
• B) The change in the firm's total revenue as the result of hiring an additional worker.
• C) The change in the firm's output as the result of hiring an additional worker.
• D) The change in the firm's cost as the result of hiring an additional worker.

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Definitions:

Organizing

The process of arranging or structuring resources and tasks to achieve objectives efficiently, often relating to business or project management.

Directing

The process of guiding, leading, and motivating employees to achieve organizational goals.

Goals and Objectives

Targets and outcomes that an organization or individual aims to achieve within a specific timeframe.

Period Costs

Period costs are expenses that are not directly tied to the production process and are expensed in the period they are incurred.