The Marginal Product of a New Worker Is 80 Units

question 18

Multiple Choice

The marginal product of a new worker is 80 units and the marginal expense of a new worker is $800.The marginal product of hiring current workers another hour is 10 units and the marginal expense of hiring current workers another hour is $12.If the firm needs extra hours of work (assuming the work could be done by either the new or current workers) ,it should

• A) hire new workers.
• B) hire current workers more hours.
• C) be indifferent between hiring new workers or hiring current workers more hours.
• D) not hire anyone for the added hours of work.

---

Definitions:

Self-Advancement

The act of improving one's position, status, or self-interest, often through personal development or career progression.

Welfare

Systems or policies that provide assistance and support to individuals in need to ensure their basic living conditions and well-being are met.

Civil Rights

Rights that protect individuals' freedom and ensure equality under the law, regardless of race, religion, or other characteristics.

Economic Theories

are conceptual frameworks that explain how economic markets work, guiding the analysis of economic behavior, policies, and decision making.