Often owners of firms who hire managers must install incentive or bonus plans to ensure that the:
A. company will have positive economic profits.
B. manager will work hard.
C. company is financially secure.
D. manager will maintain employee morale.
Answer: B
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Which of the following is the best example of opportunity cost?
A) a company's expenditures on a training program for its employees B) the rate of return on a company's investment C) the amount of money that a company can earn by depositing excess funds in a money market fund D) the profit that a company forgoes when it decides to drop one product line in favor of another one
An example of an excludable good or service is a:
A. movie in a theater. B. city park. C. rainbow. D. levee system.
If the demand curve facing the monopolist is P = 70 ? 14Q, then the slope of its marginal revenue curve is:
A. ?35. B. ?7. C. ?28. D. ?14.
If a firm wants to maximize profits, it should hire workers up to the point at which
A. marginal factor cost = marginal revenue product. B. total factor cost = total revenue. C. marginal utility = marginal cost. D. total social benefit = total social costs.