Which of the Following Represents the General Rule of Hiring

question 335

Multiple Choice

Which of the following represents the general rule of hiring for a firm?

• A) Total physical product equals marginal factor cost.
• B) Average revenue product equals the wage rate.
• C) Marginal cost equals marginal revenue.
• D) Marginal revenue product equals marginal factor cost.

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Definitions:

Salivates

The process of producing saliva, a digestive fluid, in response to the presence of food or the anticipation of eating.

Conditioned Stimulus

A previously neutral stimulus that, after becoming associated with an unconditioned stimulus, eventually comes to trigger a conditioned response in a subject.

Operant Stimulus

A stimulus that follows a behavior and increases the likelihood that the behavior will be repeated.

Unconditioned Stimulus

In classical conditioning, a stimulus that naturally and automatically triggers a response without any need for learning.