A Competitive Firm Sells Its Output for $45 Per Unit

question 28

Multiple Choice

A competitive firm sells its output for $45 per unit.It employs 30 workers,and the marginal product of the 30th worker is four units of output per day.It pays its workers a wage of $150 per day.Which statement will help the firm make the right decision regarding hiring a 31st worker

• A)The firm's profit would increase if it hired a 31st worker.
• B)For the 30th worker, the value of the marginal product of labour is $600.
• C)For the 30th worker, the marginal revenue product is $600.
• D)Workers are consistently becoming more productive.

Understand the roles of entities, attributes, and records within databases.

Distinguish between explicit and tacit knowledge, and their significance in organizational contexts.

Recognize issues associated with managing Big Data and strategies to mitigate them.

Understand the role and implementation of data warehouses and data marts in decision-making processes.

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Definitions:

Legislation

Laws and regulations formally enacted by governing bodies to regulate, authorize, forbid, or sanction specific actions and practices.

Gender Identity

Gender identity is an individual's personal sense of their own gender, which may or may not correspond with the sex they were assigned at birth.

Sexual Identity

The definition of oneself that is formed around one’s sexual relationships.

Gender Attribution

The process by which society assigns a gender to an individual based on perceived indicators such as appearance, behavior, and interests.