Business, 06.05.2021 17:00 Serenitybella
A consultant interviews the hiring manager of a small, profit-maximizing firm. The manager explains that the firm used to have 15 employees but decided not to rehire when the most-recently-hired employee left the company, so the firm now has 14 employees. We can infer that Select one: a. for the 15th employee, the wage exceeded the value of the marginal product of labor. b. for the 15th employee, the value of the marginal product of labor exceeded the wage. c. the firm is too small and should rehire to replace the 15th employee. d. the firm is no longer attempting to maximize profits.
Answers: 3
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Which of the following describes a situation in which there would be decreasing marginal utility? a. buying only necessities. b. buying a car to substitute for riding the bus. c. buying food in bulk to save money in the long run. d. buying a second winter coat.
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A consultant interviews the hiring manager of a small, profit-maximizing firm. The manager explains...
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