Comfy Clothing is thinking of hiring Tom. If hired, he can increase total production by 100 units a week. He would cost the firm $1,500 a week in wages. If the price of each unit is $20,
a. The MR of hiring the worker is $1,500
b. The MC of hiring Tom is $1,500
c. The firm should hire Tom since MR>MC
d. All the above
d
Economics
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Refer to Figure 15-3. Suppose the monopolist represented in the diagram above produces positive output. What is the price charged at the profit-maximizing/loss-minimizing output level?
A) $38 B) $54 C) $68 D) $75
Economics
A federal government deficit is said to exist in the event that ________
A) federal outlays are less than federal revenues B) federal outlays are equal to federal revenues C) federal outlays are greater than federal revenues D) any of the above conditions exists
Economics