When a Firm Is a Profit Maximizer,what Will Be the Effect

question 13

Multiple Choice

When a firm is a profit maximizer,what will be the effect on the labour market

• A)It is driven to have the workers to produce as much product as possible.
• B)It will measure its success by the number of employees it has.
• C)Its labour cost will be minimized.
• D)It does not care directly about the number of workers it hires.

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Definitions:

Psychographics

Psychographics involves the study of consumers' lifestyles, interests, attitudes, and values to understand their purchasing behavior.

Lifestyles

The aggregation of choices, behaviors, and attitudes by which individuals express their personal values, interests, and social identities.

Leisure Time

Free time not consumed by work or essential duties, allowing individuals to engage in activities of their choice for relaxation or pleasure.

Consumption Process

The series of steps or actions taken by consumers from the moment they recognize a need, search for information, make a purchase, and post-purchase evaluation.