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According to the rule of optimal input usage, a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the company. It is well known that many companies have management training program in which new trainees are paid relatively high starting salaries and are not expected to make substantial contribution to the company until after the program is over (program may run between 6 to 18 months. In offering such training programs, is a company violating the optimality rule? describe.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M947795

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