A firm should hire an additional worker as long as:
a. the marginal cost of employing an additional worker is positive.
b. the additional revenue from employing the worker is higher than the firm's average cost of production.
c. the marginal cost of employing an additional worker exceeds the marginal benefit to the firm.
d. the additional revenue from employing the worker exceeds the additional cost of employing the worker.
d
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A firm that is technologically efficient
A) must be economically efficient, but a firm that is economically efficient is not always technologically efficient. B) must be economically efficient, and a firm that is economically efficient must always be technologically efficient. C) is not always economically efficient, and a firm that is economically efficient is not always technologically efficient. D) is not always economically efficient, but a firm that is economically efficient must always be technologically efficient.
If the government wanted a tax to not burden consumers much, it would want to tax an industry with:
a. elastic supply and demand curves. b. inelastic supply and demand curves. c. inelastic supply and elastic demand. d. elastic supply and inelastic demand.