If the Marginal Resource Cost of the Tenth Worker Hired

question 176

Multiple Choice

If the marginal resource cost of the tenth worker hired by a firm is $4 and the wage of the tenth worker is $3, the firm will hire ten workers if the marginal revenue product of the tenth worker is

• A)$3
• B)less than $3
• C)greater than or equal to $3
• D)greater than or equal to $4
• E)less than $4

---

Definitions:

Shop-Floor

The area in a manufacturing facility where goods are produced or assembled.

European Industrialization

The transformation from agrarian and handicraft economies to industrial and machine-manufacturing dominated societies in Europe, beginning in the late 18th century.

American Industrial Expansion

The phase during which the United States experienced rapid industrial growth, significantly transforming its economy and society in the late 19th and early 20th centuries.

Capital Infusions

The injection of funds into a business or organization, typically to support growth or stabilize financial health.