Which of the Following Is True

question 121

Multiple Choice

Which of the following is true?

• A) The value to a firm of hiring another worker is the worker's value of marginal product.
• B) A firm will hire more workers if the wage rate is greater than the value of marginal product.
• C) The value of marginal product is the cost of hiring a worker.
• D) The value of marginal product increases as more workers are hired.
• E) The value of marginal product equals the price of the good produced divided by the marginal product.

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Definitions:

Problem Seekers

People who constantly process information looking for problems to solve, even before they occur.

Systematic Thinkers

Individuals who approach problems using a methodical and structured process, analyzing the parts of a system and how they work together.

Complex Problem

A challenge characterized by uncertainty, interconnected parts, and multiple possible solutions that is difficult to solve.

Problem Solving

Involves identifying, analyzing, and finding solutions to problems in order to overcome obstacles or improve situations.