Due to the first rule of labor markets, a firm strives to maximize its profits and will therefore never pay more for a worker than the value of his/her marginal productivity to the firm. Therefore, the option A holds true.
<h3>What is the significance of profit maximization?</h3>
A process of following and adapting such methods that derive maximum revenue to the firm is known as profit maximization. It should be the primary goal of any firm in the market.
The first rule of labor markets says that when a firm strives for profit maximization, it does not pay the worker or the labor, more than the marginal productivity that the worker bring to the firm.
Therefore, the option A holds true regarding profit maximization.
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The question seems to be missing. The complete question has been added for better reference.
Due to the ________ a firm strives to maximize its profits and will therefore never pay more for a worker than the value of his/her marginal productivity to the firm.
a. first rule of labor markets
b. demand product value
c. third rule of labor markets
The answer is 2 times.
Accounts recievable turnover ratio = net sales / average accounts recievable
=1,000,000 ÷ (700,000+300,000 ÷ 2)
Answer: adverse selection
Explanation:
From the question, we are told that an
insurance company is likely to attract customers like Clancy who want to purchase insurance because he knows better that the company that he is more likely to make a claim on a policy.
The idea above is called adverse selection. This is a situation whereby either the seller or the buyer believes that he or she has more information than the other person regarding a particular product.
Answer: The adjusting entry is:
Debit ($) Credit ($)
Supplies expenses 4,648
Supplies 4,648
<em>Being adjustment to account for supplies expenses incurred at year end</em>
Explanation: The supplies account is an asset account, so it has a debit balance. To arrive at the supplies expenses amount journalzed above, we have to do a movement schedule for the supplies account as follows:
Opening balance $1,804
Purchases during the period 3,283
Supplies expenses (XXX)
Balance 439
To get the value of XXX above, we do $1,804+3,283-XXX=439; using subject of the formula, XXX = $1,804+3,283-439 = $4,648.
Answer: The correct answer is "c. thinking leads to behaving and results in feeling.".
Explanation:Conscious low effort decision making can follow a hierarchy of effects in which thinking leads to behavior and results in feeling. Because when making conscious decisions of low effort the consumer agrees to think and in turn these thoughts lead to feelings that are reflected in a behavior.
