Which of These Is an Attempt to Minimize Costs and Maximize

question 6

Multiple Choice

Which of these is an attempt to minimize costs and maximize profits?

• A) Offering a generous pension to retain workers in the long term
• B) Paying workers enough to purchase the products they make
• C) Keeping wages and benefits low, and work hours long
• D) Granting workers extended paid time off from work

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Definitions:

Taxable Income

The portion of an individual's or corporation's income that is subject to taxes according to federal, state, or local laws.

Tax Liability

The total amount of tax that an individual or business owes to the government.

Average Tax Rate

The proportion of total income that is paid as taxes, calculated by dividing the total amount of taxes paid by the total income.

Elastic Supply

A situation where the quantity supplied of a good responds significantly to changes in its price.