Profit Maximization by Firms Ensures That the Equilibrium Wage Always

question 113

True/False

Profit maximization by firms ensures that the equilibrium wage always equals the value of the marginal product of capital.

---

Definitions:

Floodplains

Flat areas adjacent to rivers that are subject to flooding and are composed of sediment deposited by the river.

Entrenched Meanders

Meandering rivers or streams that have cut deeply into the landscape, creating steep banks or cliffs, often a result of a drop in base level or uplift of the land.

Regional Uplift

The upward movement of the Earth's surface over a broad area, often due to tectonic forces, leading to changes in landscape and elevation.

Low-gradient River

A river with a gentle slope, resulting in slow water movement and often meandering courses.