A Firm Will Hire Additional Units of Any Input Up

question 28

Multiple Choice

A firm will hire additional units of any input up to the point where

• A)the marginal productivity of the input is maximized.
• B)the marginal cost of employing the input is minimized.
• C)the expense of employing the last unit is equal to the revenue brought in by the last unit.
• D)the revenue brought in by the input is maximized.

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Definitions:

Colonial Manufacturing

The production of goods in the colonies, often under constraints imposed by the colonial powers, with a focus on raw materials for export and importing finished goods.

Indians and African Slaves

This term reflects the complex historical interactions and relations between Native American populations and African slaves brought to the Americas, which included alliances, conflicts, and cultural exchanges.

Significant Alliance

A major partnership or agreement between countries, organizations, or individuals that has a substantial impact on the parties involved or on a broader scale.

Middle Colonies

The colonial region in the 17th and 18th centuries that included the modern-day states of New York, New Jersey, Pennsylvania, and Delaware, known for diverse populations and religious tolerance.