If a Firm Finds That the Wage Rate (W) Is

question 364

Multiple Choice

If a firm finds that the wage rate (W) is less than the value of marginal product (VMP) , then to maximize its profit the firm should hire

• A) less labor, which will increase the VMP.
• B) more labor, which will decrease the VMP.
• C) no more or less labor, because profits are greatest when W < VMP.
• D) more labor, because hiring more labor will increase both W and VMP until they are equal.

Understand the stages of Piaget's sensorimotor development and their characteristics.

Recognize the development of fine motor skills in infants.

Identify the concept of object permanence and its importance in cognitive development.

Describe how infants interact with their environment and people around them across different stages of development.

---

Definitions:

Guidelines

Recommended practices or principles designed to steer actions or decisions in specific situations.

Labor Relations

Is the process of dealing with employees who are represented by a union.

Represented

Pertains to something being symbolized, depicted, or stood for by someone or something else.

A Union

An organized association of workers formed to protect and further their rights and interests.