If a firm finds that, at its current level of employment, VMP < W, then it has
A) reached maximum profits.
B) reached minimum profits.
C) not hired enough labor to maximize its profit.
D) hired too much labor to maximize its profit.
D
Economics
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Currency devaluation ______export producers because_______
a. Helps; exports are more expensive b. Hurts; exports are more expensive c. Helps; exports are less expensive d. Hurts; exports are less expensive
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The income elasticity of demand measures
a. the relative certainty of future income b. how elastic supply is compared to demand c. the percent change in quantity demanded relative to the percent change in income d. the percent change in income relative to the percent change in quantity demanded e. how much income will stretch to make expected payments
Economics