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Suppose a competitive firm pays a wage of $12 an hour and sells its product at $3 per unit.Assume that labour is the only input.If hiring another worker would increase output by five units per hour, then to maximise profits the firm should
Depreciation Expense
The orderly assignment of the financial value of a real asset over its life of usefulness.
EBIT
The financial performance metric, Earnings Before Interest and Taxes, deducts all expenses from a firm's income except for interest and tax expenses.
Return On Equity
A measure of a corporation's profitability, calculated as net income divided by shareholder's equity, indicating how effectively management is using a company’s assets to create profits.
Total Equity
The total of all stockholder's equity (both preferred and common stock) plus retained earnings within a company.
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