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Use the Following to Answer Questions 4-8

question 45

Multiple Choice

Use the following to answer questions 4-8:
Use the following to answer questions 4-8:    -If hiring the 4th worker increases total product by 50 units and the price of each unit is $15, A) the firm should not hire the 4th worker as MB<MC B) marginal revenue equals $150 C) the firm should hire the 4th worker as MB>MC D) the firm should not hire the 4th worker as MB<TC
-If hiring the 4th worker increases total product by 50 units and the price of each unit is $15,


Definitions:

Social services

A range of public services provided by governmental or private organizations aimed at helping people in need, such as housing support, food assistance, and healthcare.

Mass consumption

The widespread purchasing and use of goods and services by a large number of people, driving consumer culture and economic activities.

New sources of power

Emerging or alternative ways of generating energy beyond traditional fossil fuels, such as solar or wind power.

Minority groups

Communities or populations that are differentiated from the majority of a population based on nationality, race, religion, or some other factor.

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