The Change in a Firm's Revenue as a Result of Hiring

question 252

Multiple Choice

The change in a firm's revenue as a result of hiring one more worker

• A)is the definition of the marginal product of labor.
• B)is equal to the firm's marginal cost.
• C)is the definition of the marginal revenue product of labor.
• D)will be negative if the demand for the firm's output is inelastic.

---

Definitions:

Expected Returns

The anticipated profit or loss from an investment, considering all potential outcomes and their probabilities.

Delivery Van

A Delivery Van is a type of vehicle used for transporting goods and products from one location to another, especially in the context of logistical operations or delivery services.

Interest Rate

The percentage of a sum of money charged for its use over a specified period, typically expressed as an annual percentage rate (APR).

Expected Rate

The predicted average rate of return or growth over a specific period of time.