If a Firm in a Competitive Labour Market Finds That

question 57

Multiple Choice

If a firm in a competitive labour market finds that, at its current level of employment, VMP > W, it will

• A) be minimising profits.
• B) increase the amount of labour it hires.
• C) be maximising profits.
• D) decrease the amount of labour it hires.

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Definitions:

Social Control

Mechanisms, strategies, and institutions used by society to regulate individual behavior and maintain social order.

Cops

Law enforcement officers tasked with maintaining public order, preventing and investigating crimes.

Criminals

Individuals who have committed crimes, which are acts that violate the laws set forth by a legal system.

Communications Technologies

Tools and systems used for transmitting, receiving, and processing information.