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

question 235

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 labour of the last worker hired.

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Definitions:

Subarachnoid space

The area between the arachnoid membrane and pia mater around the brain and spinal cord, filled with cerebrospinal fluid.

Meninges

Protective membranes that cover the brain and spinal cord, providing defense against injury and infection.

Neurotransmitters

Chemical messengers that transmit signals across synapses between neurons or from neurons to muscles.

Dermatomes

Areas of skin supplied by sensory nerves from a single spinal root, crucial for diagnosing conditions affecting the nerves and skin.