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Yes, I meant in the short-term, in the context of a single firm being able to practice it, and how it would affect its profit margins. In the long run both wage
by CryptoPunk 6y ago
Yes, I meant in the short-term, in the context of a single firm being able to practice it, and how it would affect its profit margins. In the long run both wage maximization and profit maximization aligns with social utility maximization, which we achieve through the establishment of a free market where all interactions are mutually voluntary.