If the Total Cost Incurred by a Firm in Hiring

question 68

Multiple Choice

If the total cost incurred by a firm in hiring ten workers is $45 and the total cost incurred when the eleventh worker is hired is $60,the marginal cost of hiring the eleventh worker is ________.

• A) $1.33
• B) $15
• C) $20
• D) $105

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Definitions:

Society

A group of individuals living together in a more or less ordered community, often sharing common cultural and social institutions.

Benefits

Advantages or profits gained from something, such as a job, policy, or activity.

Holistic Critical Thinking

An approach to critical thinking that considers the whole context, including varied perspectives and interrelated factors.

Scoring Rubric

A guide used for assessing the quality of tasks or performances, detailing the criteria and standards for different levels of achievement.