A Firm Has Hired the Profit-Maximizing Number of Workers When

question 37

Multiple Choice

A firm has hired the profit-maximizing number of workers when the wage is:

• A)less than the price of the product.
• B)greater than the average product of the last worker hired.
• C)equal to the average product of the last worker hired.
• D)equal to the value of the marginal product of labor of the last worker hired.

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Definitions:

Cyril Briggs

An African-Caribbean American writer and a leader in the New Negro Movement and the African Blood Brotherhood.

Richard Wright

An American author of novels, short stories, poems, and non-fiction, known for his works concerning the African American experience.

National Negro Conference

A historic gathering aimed at addressing issues facing African Americans, often focusing on civil rights and social justice.

Industrialists

Business leaders and entrepreneurs who own or manage industrial enterprises, playing a key role in the development and growth of the industrial sector.