When a Firm Hires Another Employee And,as a Result,total Output

question 33

Multiple Choice

When a firm hires another employee and,as a result,total output increases,this change in total output is also known as

• A) total output.
• B) marginal employment.
• C) marginal product.
• D) labor contribution.
• E) marginal benefit.

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Definitions:

Federal Securities

Financial instruments issued by the federal government, including Treasury bills, notes, and bonds, which are used to finance government spending.

Depository Institutions

Commercial banks and thrift institutions; financial institutions that accept deposits from the public

Customer Deposits

Funds placed by customers with a company, often in the context of financial services, which may be used for further transactions or withdrawn later.

Maximize Profits

The objective of optimizing the difference between total revenues and total costs to achieve the highest possible financial gain.