The Benefit to the Firm from Hiring One Additional Worker

question 162

Multiple Choice

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

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

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Definitions:

Long-Lived Assets

Assets with a useful life extending beyond one year, used in the operation of a business, such as equipment or buildings.

Allocated To Expense

A method of assigning or distributing costs among various accounts or periods as expenses.

Net Income

The net earnings of a business following the subtraction of all costs and taxes from the gross income.

Predictor

A statistical measure or model used to estimate future trends or outcomes based on historical data.