If the Marginal Product of Labor Exceeds That Cost of Hiring

question 7

Multiple Choice

If the marginal product of labor exceeds that cost of hiring an additional worker,the firm should ________.

• A)fire some workers
• B)raise the wage rate
• C)add more workers
• D)lower the wage rate

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Definitions:

Accounting Firms

Businesses specializing in providing financial services including auditing, taxation, financial reporting, and advisory services to their clients.

Entrepreneurial Effectiveness

The measure of an entrepreneur's ability to achieve desired business outcomes, such as growth, innovation, and sustainability.

Networks

A collection of interconnected people or organizations that exchange information and resources for professional or personal gain.

Best Referral System

refers to an efficiently designed process or program that encourages satisfied customers or clients to refer new customers or clients to a business.