When a Firm Hires Another Employee And,as a Result,total Output

question 33

Multiple Choice

When a firm hires another employee and,as a result,total output increases,this change in total output is also known as

• A) total output.
• B) marginal employment.
• C) marginal product.
• D) labor contribution.
• E) marginal benefit.

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Definitions:

Annual Income

The total amount of money earned by an individual or organization in one year from all sources before taxes.

Positively Correlated

A relationship between two variables where if one variable increases, the other one also increases.

Positively Correlated

Refers to a relationship between two variables where they move in the same direction, meaning as one variable increases, the other variable also increases.

Outdoor Temperature

The temperature of the air outside, which can vary widely depending on geographic location, time of day, and season.