When we focus on the firm as a supplier of a good or a service, we assume that the firm is a profit maximizer. When we focus on the firm as a demander of labor, we assume that the firm's objective is to
a. minimize wages.
b. minimize variable costs.
c. maximize the number of workers hired.
d. maximize profit.
d
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In the 1930s and 1940s, the Technicolor company was able to leverage its bargaining power over the movie industry because Technicolor was the sole producer of cameras and films needed to produce color films
Indicate whether the statement is true or false
Which of the following statements is true?
A. If a good is nonrivalrous in consumption then it is nonexcludable, too. B. A good can be rivalrous in consumption but not nonexcludable, too. C. An apple is nonrivalrous in consumption. D. Many economists maintain that the market fails to produce nonexcludable private goods. E. none of the above
In general, the current stock of pollutants (St) may be modeled as St = Et + (1 - d)St-1 where d is the ________ and Et is the ________
A) social discount rate, previous stock level B) social discount rate, current emissions C) stock dissipation rate, previous stock level D) stock dissipation rate, current emissions
Agriculture is an example of
A) perfect competition. B) oligopoly. C) monopoly. D) monopolistic competition.