Tucker Corporation sells its product for $5.00 . Tucker's industrial engineers have informed management that hiring one additional worker will increase output by five units per hour. Tucker should hire the additional worker only if the wage rate is:
a. $5.00 or less per hour.
b. $1.00 or more per hour.
c. $25.00 or less per hour.
d. none of these.
c
You might also like to view...
Which of the following statements regarding human capital is INCORRECT?
A) Human capital is the accumulated skill and knowledge of human beings. B) Education is the only vehicle for the creation of human capital because training simply reinforces what has already been learned. C) The accumulation of human capital is the source of both increased productivity and technological advance. D) Writing and mathematics, the most basic of human skills, are crucial elements in economic progress.
Intraindustry trade refers to
A) international trade of products made within the same industry. B) international trade of products made across different industries. C) trade that occurs as a result of comparative advantage. D) the exchange of non-similar items. E) trade that occurs mostly within developing countries.
The selling of a good or service abroad at a price below what is charged in the home market or below the cost of production is referred to as
A) recycling. B) a quota. C) dumping. D) a tariff.
Equilibrium price in international trade is the common price between exporting and importing countries
a. True b. False Indicate whether the statement is true or false