Which of the Following Is True

question 121

Multiple Choice

Which of the following is true?

• A) The value to a firm of hiring another worker is the worker's value of marginal product.
• B) A firm will hire more workers if the wage rate is greater than the value of marginal product.
• C) The value of marginal product is the cost of hiring a worker.
• D) The value of marginal product increases as more workers are hired.
• E) The value of marginal product equals the price of the good produced divided by the marginal product.

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a product and the quantity of the product demanded.

Computer Software

Programs and operating information used by a computer to perform specific tasks or functions.

Quantity Demanded

Refers to the total amount of a good or service that consumers are willing and able to purchase at a specific price level.