A Firm Is Thinking of Hiring an Additional Worker to Their

question 49

Multiple Choice

A firm is thinking of hiring an additional worker to their organization who they believe can increase total productivity by 100 units a week.The cost of hiring him or her is $1500 per week.If the price of each unit is $20,

• A)the MR of hiring the worker is $2000
• B)The MC of hiring the worker is $1500
• C)The firm should hire the worker since MB>MC
• D)All the above

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Definitions:

Sampling Frame

A list or database from which a statistical sample is drawn, representing the entire target population and used as a guide for selecting the sample.

Reliable Cables

Cabling systems known for their durability, consistent performance, and low failure rate, often used in telecommunications and data transmission.

Cluster Sample

A sampling method where the population is divided into clusters, and a random sample of these clusters is chosen for analysis.

Rows

In the context of data, rows represent individual records or observations in a database or table.