Answer:
The correct answer is letter "C": when the marginal magnitude is below the average magnitude, the average magnitude falls.
Explanation:
The average-marginal value is an Arithmetic rule implemented in Economics that states that when the marginal value is above the average value, the average value tends to rise, In case the marginal value is below the average value, the average value tends to fall. The average value remains the same when it is equal to the marginal value.
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.
Learn more about profit maximization here:
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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:
If the the single cable TV firm from Sydney now has a new competitor coming into town, what will most likely happen with the price of the service is that it will go down and become more accessible to consumers, as a direct consequence of the generation of competition from market between the companies involved.
The concept of competition plays a central role in economic theory. it is a situation by which different actors (companies or consumers) compete for a share in the same activity, typically the sale or purchase of a product or service. For economic operators, it is often an advantage to have limited competition on their own side of the market and a lot of competition on the opposite side, as it allows for high profits. From the point of view of society, as high a competition as possible is usually an advantage, as it ensures the best possible utilization of society's resources.
Answer:
The correct word for the blank space is: Timeliness.
Explanation:
Timeliness is a characteristic the Financial Statements must meet by which executives in decision-making positions could be able to read and comprehend what the information reflects on the company's well being so they can take proper action to correct the course of the company or find the way to keep it and improve it.
