A Business Will Find It Profitable to Hire Workers Up

question 13

Multiple Choice

A business will find it profitable to hire workers up to the point at which:

• A)marginal resource cost equals the wage rate
• B)the wage rate equals product price
• C)marginal product equals marginal revenue product
• D)marginal resource cost is equal to their marginal revenue product
• E)marginal resource cost exceeds the wage rate by the largest amount

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Definitions:

Employer's Willingness

The readiness or inclination of an employer to take certain actions or make decisions, such as hiring or investing in employee development.

Employee Benefits

Various types of non-wage compensation provided to employees in addition to their normal salaries or wages.

Government's Willingness

The extent of readiness or inclination of a government towards taking actions, implementing policies, or supporting certain initiatives.

Job Analysis

The process of studying and collecting information on the duties, responsibilities, and skills required for a specific job.