Question

In one to two sentences, explain how to calculate the net benefit if you know the marginal benefit and marginal cost for each additional employee that a firm hires in full sentences

Answer 1

[AI-generated answer — Bot GPT 3.5]

To calculate the net benefit of hiring an additional employee, subtract the marginal cost of hiring that employee from the marginal benefit gained. If the marginal benefit is greater than the marginal cost, then hiring the additional employee will result in a positive net benefit for the firm.