Q65 Principles of Microeconotof 80Dan Jones owns a small business and currently employs ten workers. The market wage is currentlyS10.50 an hour. In order to maximize his profits, he should hire an additional worker if which of thefollowing is true?O The contribution of this worker to revenue is SI0.00 per hourO The marginal revenue product of this worker is $9.50O The marginal revenue product of this worker is SI1.00OThis worker can be emploved at the wage of S10.00 an lhourGoalbc dO The fringe benetits paid to this worker are less than the wage rateAnsrer the question abore by chckung on the correer respoas

Marginal revenue is the additional revenue that the firm will generate when an additional unit of…

Answered: Q65 | bartleby

Business

Economics

Q65

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter10: Labor Markets And Income Distribution

Section: Chapter Questions

Problem 3SQP

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

Question

Q65

Principles of Microeconot
of 80
Dan Jones owns a small business and currently employs ten workers. The market wage is currently
S10.50 an hour. In order to maximize his profits, he should hire an additional worker if which of the
following is true?
O The contribution of this worker to revenue is SI0.00 per hour
O The marginal revenue product of this worker is $9.50
O The marginal revenue product of this worker is SI1.00
OThis worker can be emploved at the wage of S10.00 an lhour
Goalbc d
O The fringe benetits paid to this worker are less than the wage rate
Ansrer the question abore by chckung on the correer respoas

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