A Firm Will Hire Additional Units of a Resource as Long

question 71

Multiple Choice

A firm will hire additional units of a resource as long as each unit's _____

• A)marginal revenue product is greater than zero.
• B)marginal revenue product equals the product price.
• C)marginal revenue product is greater than or equal to its marginal resource cost.
• D)marginal revenue product is less than its marginal resource cost.
• E)total revenue product is greater than its marginal resource cost.

---

Definitions:

Trade Negotiator

An individual involved in discussions and agreements between different countries or entities regarding the terms of trade, focusing on tariffs, trade barriers, and other economic aspects.

Superordinate Goals

Objectives that require cooperation between conflicting parties, leading to reduced intergroup conflict through shared interests.

Forcing

A method of conflict resolution where one party imposes its will on another, disregarding concerns and opposition.

Smoothing

A conflict management technique aimed at minimizing differences between conflicting parties to maintain harmony.