The Benefit to the Firm of Hiring Another Worker Is

question 65

Multiple Choice

The benefit to the firm of hiring another worker is

• A)measured as the height of the production function.
• B)the extra output produced by the worker.
• C)the real wage.
• D)the nominal wage.
• E)the price level.

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Definitions:

Income

Money received, especially on a regular basis, for work or through investments, vital for determining an individual's or household's economic status.

People

Human beings collectively, often referred to in the context of society, communities, or demographics.

Planet

A celestial body orbiting a star or stellar remnant that is massive enough to be rounded by its own gravity, not massive enough to cause thermonuclear fusion, and has cleared its neighboring region of planetesimals.

Subsidies

Financial support provided by the government to assist industries, businesses, or individuals, often used to stabilize prices, encourage development, or ensure supply.