Economic theory holds that the most profitable pay level, all things being equal, would be at the
A) lowest possible level.
B) market rate.
C) highest possible level.
D) mid-range level.
E) CPI rate.

Question

Quizplus · Accepted Answer

The market rate is the point at which the supply of labor matches the demand for labor, resulting in an efficient allocation of resources. This rate ensures that a business is able to attract and retain workers without overpaying for their services, maximizing profits while maintaining a competitive edge in the market.

Economic Theory Holds That the Most Profitable Pay Level, All