To Maximize Profits for a Given Level of Resources, the Firm

question 35

Multiple Choice

To maximize profits for a given level of resources, the firm will:

• A) go to the highest isocost line possible
• B) go to the highest PPF possible
• C) go to the highest isorevenue line possible
• D) go to the highest isoquant possible

---

Definitions:

Human Relations Techniques

Methods and strategies used to maintain and improve interpersonal relations, particularly in a workplace context.

Labor Union

An organization of workers formed to protect and advance their rights and interests, commonly through collective bargaining.

Maslow's Hierarchy

A psychological wellness theory based on satisfying inherent human necessities in order, ultimately leading to self-actualization.

Alderfer's ERG Theory

A theory in psychology that categorizes human needs into three categories: Existence, Relatedness, and Growth, positing that these needs can influence people's behavior.