A Company Finds That for the Next Worker Hired, the Worker's

question 252

Multiple Choice

A company finds that for the next worker hired, the worker's VMP is less than the cost of the worker. In this case, to maximize its profit the company should

• A) definitely hire the worker.
• B) perhaps hire the worker, depending on the relationship between the company's MC and MR.
• C) definitely not hire the worker.
• D) None of the above answers is correct.

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Definitions:

Contingency Perspective

The idea that the effectiveness of leadership or management practices depends on the specific situational variables present.

Leadership Effectiveness

A measure of a leader’s ability to achieve desired results, influence others, and foster organizational success.

Universal Theory

A concept or idea that is believed to apply universally across cultures, situations, or conditions, often seeking to explain a broad phenomenon.

Think Strategically

The ability to envision long-term goals and objectives, and to formulate plans and approaches that ensure the achievement of these goals in an efficient and effective manner.