Question text In choosing to optimize the number of employees hired, a company should continue hiring...
Question text In choosing to optimize the number of employees hired, a company should continue hiring until Select one:
a. the additional cost imposed on the company from hiring the next employee is equal to the additional cost imposed on the company from the previous employee who was hired.
b. the benefit derived from the first employee hired is equal to the benefit derived from the last employee hired.
c. the additional cost imposed on the company from hiring the next employee is decreasing faster than the increase in the additional benefit derived from the next employee hired.
d. the additional benefit derived from the next employee hired is equal to the additional cost imposed on the company from hiring that next employee.
Homework Answers
Answer
Option d
d. the additional benefit derived from the next employee hired is equal to the additional cost imposed on the company from hiring that next employee.
the firm hires workers up to the marginal revenue product equal to the wage means the additional benefit derived from the next employee hired is equal to the additional cost imposed on the company from hiring that next employee.
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