One Reason That Firms Hire Labor at the Point Where

question 60

Multiple Choice

One reason that firms hire labor at the point where w = MPN is

• A)if w < MPN, the cost (w)of hiring additional workers exceeds the benefits (MPN)of hiring them, so they should hire fewer workers.
• B)if w > MPN, the cost (w)of hiring additional workers is less than the benefits (MPN)of hiring them, so they should hire more workers.
• C)if w < MPN, the cost (w)of hiring additional workers equals the benefits (MPN)of hiring them, so they have the right number of workers.
• D)if w > MPN, the cost (w)of hiring additional workers exceeds the benefits (MPN)of hiring them, so they should hire fewer workers.

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Definitions:

Maintenance Stage

In behavior change models, the phase where new behaviors are consolidated into everyday practice, with the goal of preventing relapse into old habits.

Career Stage Model

A framework that outlines the various phases an individual goes through in their professional life, from entry-level positions to retirement.

Establishment Stage

A phase in one's career or the lifecycle of an organization during which stability and growth are pursued after initial achievements or setup.

Person's Career

The progression and actions of an individual's professional life, including job experiences, education, and advancements.