After Hiring 151 Units of the Variable Input (Say Labor)

question 103

Multiple Choice

After hiring 151 units of the variable input (say labor) a firm determines the MFC to be $0.33 and the MRP to be $0.30.The firm should:

• A)increase the output of its product.
• B)increase the use of labor.
• C)decrease the use of labor.
• D)produce 151 units.
• E)produce 33 units of the output.

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Definitions:

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A term used to describe questions or statements that are designed to elicit emotional responses or include assumptions, potentially biasing the response.