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Author Question: One way by which firms differentiate their products is to find a market niche. Indicate whether ... (Read 73 times)

MirandaLo

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on: Jun 29, 2018
One way by which firms differentiate their products is to find a market niche.
 
  Indicate whether the statement is true or false

Question 2

Suppose a competitive firm is paying a wage of 12 an hour. Assume that labor is the only input. If hiring another worker would increase output by four units per hour, then to maximize profits the firm should
 
  A) layoff some workers.
  B) not change the number of workers it currently hires.
  C) hire the extra worker.
  D) There is not enough information to answer the question.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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billybob123

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Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

D


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