Suppose the MRP of the 49th Worker at a Firm

question 36

Multiple Choice

Suppose the MRP of the 49th worker at a firm is $25 and that the market wage rate is $15. We know that if this firm operates in perfectly competitive product and labor markets

• A) the firm is paying wages above the minimum wages.
• B) the firm's profits would increase if it fired some workers.
• C) the firm would be more profitable if it hired more workers.
• D) the firm should use more capital.

---

Definitions:

Big Data

Refers to extremely large datasets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.

Terabytes

A unit of computer storage capacity that is approximately equal to a trillion bytes or 1024 gigabytes, used to quantify data volume.

Volume

The intensity level of sound output from a device, which can usually be adjusted by the user.

OrderStatus

A descriptor or identifier used to indicate the current progress or stage in the processing or delivery of an order.