A Profit-Maximizing,competitive Firm Will Hire an Additional Worker When the Additional

question 163

Multiple Choice

A profit-maximizing,competitive firm will hire an additional worker when the additional worker makes a positive contribution to which of the following

• A)total revenue
• B)total profit
• C)the value of the marginal product of labour
• D)marginal revenue

Recognize the role and impact of stakeholders in an organization.

Understand the concept and components of a cultural audit within an organization.

Grasp the various strategies and methods for HR forecasting, including quantitative and qualitative approaches.

Understand the significance of core capabilities and how they distinguish an organization from its competitors.

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Definitions:

Joint Venture

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task or project.

Mission-Related

Pertaining to activities, decisions, or initiatives that directly align with and support an organization's core purpose or objectives.

Earned Income

Revenue generated from the sale of goods or services, as opposed to donations or grants, especially in the context of nonprofit organizations.

Cause Marketing

A type of corporate social responsibility in which a company's promotional campaign has the dual purpose of increasing profitability while bettering society.