A Competitive Firm Produces an Output of 200 Units for a Price

question 62

Multiple Choice

A competitive firm produces an output of 200 units for a price of $15 per unit.The extra output produced by one extra worker is 5 units.In order to maximize it profit,the firm should pay a wage equal to _____.

• A)$20
• B)$75
• C)$15
• D)$10

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Definitions:

Normative Commitment

A commitment to the organization based on feelings of obligation.

Performance Review

A formal assessment where an employee's work performance is evaluated and discussed.

Hiring Process

A series of steps taken by employers to recruit, select, and onboard new employees effectively.

Performance Evaluation

The systematic assessment of an individual's job performance, typically conducted by supervisors or managers to make informed decisions regarding employment matters.