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
Answer:
The answer is entrepreneur
Explanation:
Diane showed the trait of an entrepreneur. An entrepreneur is someone who tries to solve a particular problem or challenge by setting up a business. He takes up the risk and tries to fight it in order to be successful because of the passion he has for the business. Entrepreneur also sources for the capital for the business which can be in form of borrowed money or equity contribution.
<u>Answer:</u>
<em>The purpose of the news media is to </em><u><em>provide information
</em></u>
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<u>Explanation:</u>
The news media gives target information that enables individuals to use sound decisions. The motivation behind news media is to offer projects and administrations that illuminate, teach, instruct, and enhance general society and help educate everyday talk fundamental to American culture. It is CPB's specific duty to empower the advancement of substance that includes innovative hazard, and that tends to the requirements of unserved and underserved spectators, particularly youngsters and minorities. CPB goes about as a watchman of the essential purposes for which open telecom was set up.
Market economy is the economic system which private businesses can operate freely with minimal state control
The question is incomplete, it lacks options.
A) Norris La Guardia Act
B) National Labor Relations Act
C) Occupational Safety and Health Act
D) Fair Labor Standard Act
Answer:
National Labor Relations Act
Explanation:
The National Labor Relations Act was enacted in 1935. It is also known as the Wagner Act. This law enacted to enable employees in various organizations to organize different forms of trade union and collectively bargain with their employers.
The National Labor Relation Acts enables employees to bargain for an increase in salary, better working conditions such a provision of safety equipments for workers in a work environment.
