Solved

Use the Following to Answer Questions 11-16

Question 50

Multiple Choice

Use the following to answer questions 11-16:
Use the following to answer questions 11-16: -If hiring the 6th worker increases total product by 7 units and the price of each unit is $2, A) the firm should not hire the 6th worker as MB<MC B) marginal revenue equals $2 C) the firm should hire the 6th worker as MB>MC D) the firm should not hire the 6th worker as MB<TC
-If hiring the 6th worker increases total product by 7 units and the price of each unit is $2,


A) the firm should not hire the 6th worker as MB<MC
B) marginal revenue equals $2
C) the firm should hire the 6th worker as MB>MC
D) the firm should not hire the 6th worker as MB<TC

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q42: A firm produces 500 units per week.It

Q43: Marginal revenue<br>A)Is the additional revenue incurred by

Q44: If AVC=$5 and AFC=15,then ATC=<br>A)$10<br>B)$5<br>C)$15<br>D)$20

Q45: Use the following to answer questions 4-8:<br>

Q46: With fixed costs of $200,a firm has

Q47: Managers undertake an investment only if<br>A)Marginal benefits

Q48: Use the following to answer questions 11-16:<br>

Q49: A firm is thinking of hiring an

Q51: Jim' burger produces 500 burgers per week.Each

Q52: Use the following to answer question<br> <img