The change in a firm's revenue as a result of hiring one more worker
A) is equal to the firm's marginal cost.
B) will be negative if the demand for the firm's output is inelastic.
C) is the definition of the marginal revenue product of labor.
D) is the definition of the marginal product of labor.
C
Economics
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Elasticity is
a. a measure of how much buyers and sellers respond to changes in market conditions. b. the study of how the allocation of resources affects economic well-being. c. the maximum amount that a buyer will pay for a good. d. the value of everything a seller must give up to produce a good.
Economics
How is the separation of ownership from control related to the principal-agent problem?
What will be an ideal response?
Economics