Which of the Following Is Not Included in Factory Labor

question 128

Multiple Choice

Which of the following is not included in factory labor costs?

• A) Gross earnings.
• B) Employer payroll taxes.
• C) Fringe benefits.
• D) All of these are included.

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Definitions:

Marginal Utility

The supplementary satisfaction or benefit obtained from using an additional unit of a product or service.

Utility Maximization

An economic principle that suggests consumers aim to get the greatest satisfaction possible from their available resources.

Consumer's First

A philosophy or policy placing consumer interests and satisfaction at the forefront of business decision-making.

Marginal Utility-To-Price Ratio

The comparison of the additional satisfaction received from consuming one more unit of a good to the price of that unit, used to maximize utility.