Suppose a Competitive Firm Is Paying a Wage of $12

question 94

Multiple Choice

Suppose a competitive firm is paying a wage of $12 an hour and sells its product at $3 per unit.Assume that labour is the only input.If the last worker hired increases output by three units per hour, then to maximize profits the firm should

• A)not change the number of workers it currently hires.
• B)lay off some of its workers.
• C)hire additional workers.
• D)There is not enough information to answer the question.

Discern the implications of employers’ and unions’ actions on the legality and outcomes of union elections.

Analyze the impact of employer and union tactics on employee free choice during union representation elections.

Comprehend the significance of "laboratory conditions" or the "General Shoe" doctrine in maintaining the integrity of union elections.

Understand the effects of workplace culture and employee relations on unionization efforts and outcomes.

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Definitions:

Exchange Rate

The amount one currency can be converted into another currency for.

France

A country located in Western Europe, known for its rich history, culture, and contributions to art, science, and philosophy.

Exchange Rate

The value of one currency for the purpose of conversion to another, determining how much one currency is worth in terms of another.

American Truck

Typically refers to trucks manufactured by companies based in the United States, known for their size and power.