Which of the Following Is a Condition for Maximum Profit

question 236

Multiple Choice

Which of the following is a condition for maximum profit?

• A) VMP = W.
• B) VMP = MC.
• C) MP = W.
• D) MC = W.

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Definitions:

Human Capital

The qualifications, acquaintance, and life experiences that a person or society possesses, assessed in light of their financial impact or charge to a business or nation.

Past Discrimination

Refers to historical instances where individuals or groups were treated unfairly or prejudiced against based on characteristics such as race, gender, religion, or nationality.

Gender Wage Gap

The average difference in earnings between women and men in the workforce, often highlighted as a measure of gender inequality.

Efficiency Wages

A theory suggesting that higher wages can enhance worker productivity by increasing morale, reducing turnover, and attracting more skilled employees.