The Benefit to the Firm from Hiring One Additional Worker

question 59

Multiple Choice

The benefit to the firm from hiring one additional worker is called the

• A) marginal revenue product of labour.
• B) marginal revenue.
• C) marginal profit.
• D) total revenue.

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Definitions:

Prosocial Behavior

Actions intended to benefit others, including helping, sharing, donating, and volunteering.

Altruism

The selfless concern for the well-being of others, often leading to helping behaviors without expectation of personal gain.

3 Months

A specific duration of time equivalent to approximately 90 days or a quarter of a year.

Just World

The cognitive bias or belief that the world is fundamentally fair, leading individuals to rationalize an otherwise inexplicable injustice as deserved by the victim's actions.