Table 17.4 -Refer to Table 17.4.Suppose the Firm Is Hiring Only One

question 165

Multiple Choice

Table 17.4
-Refer to Table 17.4.Suppose the firm is hiring only one worker when the wage rate is $12 and the output price is $2.Which of the following is true?

• A) The firm is maximizing profit.
• B) The firm is incurring a loss and should hire less labor.
• C) The firm could increase its profit by hiring more labor.
• D) The wage rate will fall.

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