Employer FICA Tax Is Paid by the Employer and Is

question 139

True/False

Employer FICA tax is paid by the employer and is added to the employee's earnings.

---

Definitions:

Profit-Maximizes

Strategies or actions by firms aimed at increasing their profits to the highest possible level.

Total Cost

The market value of the inputs a firm uses in production.

Marginal Cost

The supplementary cost that comes with the creation of one more unit of a product or service.

Perfectly Competitive

A market structure characterized by a large number of small firms, a homogeneous product, and free entry and exit, leading to price taking behavior.