Which of the following addresses agency costs
a. advertising for employee positions in as many outlets as possible
b. hiring only from job fairs
c. instituting longer work days
d. replacing closed offices with cubical office spaces
d
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How do firms in monopolistic competition compete?
What will be an ideal response?
Refer to the table below. If Sweet Grams is a perfectly competitive firm and the market price $1.25 per unit, what is the profit-maximizing total quantity for Sweet Grams to produce?
Sweet Grams makes graham cracker snack packages. Sweet Grams is a multi-plant firm with two production facilities. The above table summarizes the total marginal cost of production at various output levels in the separate plants. Assume Sweet Grams is a perfectly competitive firm.
A) 27,000
B) 30,100
C) 57,100
D) 68,000
The slope of the short-run aggregate supply curve shows that:
A. as overall price levels decrease, firms are willing to produce more. B. firms are constrained to a certain level of output in the short run, regardless of the price. C. firms are constrained to a certain price in the short run, regardless of level of output. D. as overall price levels increase, firms are willing to produce more.
The economic decision rule is to undertake an action only when the marginal benefits of that action are greater than its total costs.
Answer the following statement true (T) or false (F)