The Change in a Firm's Revenue as a Result of Hiring

question 252

Multiple Choice

The change in a firm's revenue as a result of hiring one more worker

• A)is the definition of the marginal product of labor.
• B)is equal to the firm's marginal cost.
• C)is the definition of the marginal revenue product of labor.
• D)will be negative if the demand for the firm's output is inelastic.

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Definitions:

Appeal Decision

is challenging a decision made by a lower court or administrative body, seeking a review and reversal by a higher court.

Consent Order

A consent order is a legal document in which parties in a dispute agree to a resolution without admitting guilt or wrongdoing, often used in regulatory matters and family law disputes.

Disputed Behavior

Refers to actions or conduct that are contended or contested by one or more parties in a legal or formal setting.

Injunction

A court order that either prohibits a party from doing a specific act (restraining order) or orders a party to carry out a specific act (mandatory order), typically to prevent harm or to preserve the status quo during litigation.