If the Marginal Product of Labor Exceeds That Cost of Hiring

question 7

Multiple Choice

If the marginal product of labor exceeds that cost of hiring an additional worker,the firm should ________.

• A)fire some workers
• B)raise the wage rate
• C)add more workers
• D)lower the wage rate

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Definitions:

Social Media Advertising

The practice of using social media platforms to promote products, services, or brands to reach a wider audience.

Brand Awareness

The extent to which consumers are familiar with the distinctive qualities or image of a particular brand of goods or services.

Performance Measure

Metrics or indicators used to assess, compare, and track performance or productivity, often in the context of business objectives or goals.

Cost-Per-Action

An online advertising payment model where payments are based solely on qualifying actions such as sales or registrations.