It is generally more profitable for a firm to pay workers more than the going wage rate:
A. in sectors where skills are scarce.
B. in industries in which worker motivation doesn’t really matter.
C. in areas in which turnover is not very costly.
D. All of these are true.
A. in sectors where skills are scarce.
Economics
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Immigrants were valued as a vital source of labor and, consequently, they were greeted with open arms after the 1830s
Indicate whether the statement is true or false
Economics
At the XYZ Co, a unit of capital costs 3 times as much as a unit of labor. If the isoquants are convex, and the firm does not change its input mix in the long run, we can conclude that
A) MPK = 3 ? MPL. B) the firm will not hire any capital. C) the firm will hire 3 times as much labor as capital. D) the firm will hire 3 times as much capital as labor.
Economics