Suppose a Competitive Firm Is Paying a Wage of $12

question 55

Multiple Choice

Suppose a competitive firm is paying a wage of $12 an hour and sells its product at $3 per unit.Assume that labour is the only input.If the last worker hired produces four units of output per hour, then to maximise profits the firm should

• A)not change the number of workers it currently hires.
• B)lay off some workers.
• C)hire another worker.
• D)There is not enough information to answer the question.

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Definitions:

Initial Objective

The starting goal or the immediate aim that sets the direction for activities or efforts to follow.

Structural Family Therapist

A type of therapist who focuses on understanding and improving the structures and patterns within a family to solve problems.

Negative Alliance

A situation in therapy where there is a lack of agreement or cooperation between the therapist and client, hindering progress.

Stable Coalition

A consistent and long-lasting alliance between individuals or groups aimed at achieving common goals.