A Firm Has a Single Wage Rate

question 17

Multiple Choice

A firm has a single wage rate.At present 10 workers are employed at $50 per day.Wages are raised to $55 per day to attract an extra worker.The marginal labor cost per day is:

• A) $5.
• B) $10.
• C) $55.
• D) $105.
• The 11th worker costs $55,but all 10 other workers require a $5 increase in wage.Thus,the total increase is $105.

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Definitions:

Social Return

The non-financial impact of organizations, particularly in social, environmental, and ethical contexts, often looked at in social enterprises.

Environmental Impact

The effect that human activities have on the environment, including natural resources, wildlife, and climate change.

Blended Value

A concept that proposes all organizations, whether for-profit or nonprofit, generate value that consists of economic, social, and environmental components.

Organizational Funds

Resources that are specifically allocated for the use and operations of an organization.