A firm will be better off by hiring an additional worker only when:The overall benefit is greater than the overall cost of having all the workers it has.The extra benefit is greater than the extra cost of doing so.Wages in the labor market drop.O The price of what it produces increases.

A firm will be better off by hiring an additional worker only when: The overall benefit is greater than the overall cost of having all the worker O The extra benefit is greater than the extra cost of doing so. Wages in the labor market drop. O The price of what it produces increases.

A firm will be better off by hiring an additional worker only when: The overall benefit is greater than the overall cost of having all the worker O The extra benefit is greater than the extra cost of doing so. Wages in the labor market drop. O The price of what it produces increases.

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: The Markets For The Factor Of Production

Section: Chapter Questions

Problem 2CQQ

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Question

A firm will be better off by hiring an additional worker only when:
The overall benefit is greater than the overall cost of having all the workers it has.
The extra benefit is greater than the extra cost of doing so.
Wages in the labor market drop.
O The price of what it produces increases.

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