Which of the Following Is Correct

question 231

Multiple Choice

Which of the following is correct?

• A)Any event that changes the supply or demand for labor must change the value of the marginal product.
• B)A profit-maximizing firm hires workers so long as the wage rate exceeds the value of the marginal product of labor.
• C)An increase in the supply of labor increases both employment and wages.
• D)A decrease in the demand for labor decreases wages but increases employment.

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Definitions:

Retailers

Retailers are businesses that sell goods or services directly to consumers, acting as the final link in the supply chain from manufacturers to consumers.

Consumers

Individuals or groups who purchase products or services for personal use rather than for manufacturing or resale.

Retail Partner

A business alliance between manufacturers and retail stores, where both parties work together to sell products to the end consumer, often involving special agreements or exclusive deals.

Michael Kors

A globally recognized luxury fashion brand known for its handbags, clothing, and accessories, founded by the designer Michael Kors.