Peter, an Employee of Light Ware Was Terminated from His

question 43

Multiple Choice

Peter, an employee of Light Ware was terminated from his job without wages and benefits for a period of three months. This was in violation of META. Under META his claim is subject to:

• A)Court.
• B)Administration.
• C)Employer.
• D)Arbitration.

---

Definitions:

Marginal Costs

The increase in aggregate expenses due to the production of an additional unit of a good or service.

Industry Output

The total production or supply of goods and services produced by a specific industry within a certain period.

Profit

The financial gain achieved when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Game Theory

The study of behavior in situations of interdependence. Used to explain the behavior of an oligopoly.