Multiple Choice
If an additional worker can produce an additional 20 units of output which can be sold for $4 per unit, what is the maximum wage that this perfectly competitive firm should pay to hire this worker?
A) $80
B) $80 minus the firm's profit markup
C) It depends on what the going wage rate is in the labor market.
D) There is insufficient information to answer the question.
Correct Answer:
Verified
Correct Answer:
Verified
Q64: The substitution effect of a wage decrease
Q65: Personnel economics is<br>A)the study of the factors
Q66: If Alan Shaw reduces his work hours
Q67: Which of the following helps to explain
Q68: Workers who dislike risk<br>A)prefer to be paid
Q70: A reason why a perfectly competitive firm's
Q71: Why are there superstar baseball players but
Q72: The price of a factor of production
Q73: The primary purpose of labor unions is
Q74: Customer discrimination occurs when<br>A)a firm pays workers