Scenario 18-1
Madison Kelp owns three boats, which participate in commercial fishing for fresh Pacific salmon off the coast of British Columbia.As part of her business, she hires a captain and several crewmembers for each boat.In the market for fresh Pacific salmon, there are thousands of firms like Madison's.While Madison usually catches a significant number of fish each year, her contribution to the entire harvest of salmon is negligible relative to the size of the market.
-Refer to Scenario 18-1.According to the labour market theory,which one of Madison's incentives does her demand for crewmembers and her supply of fresh Pacific salmon result from

Question

Quizplus · Accepted Answer

According to labour market theory, Madison's demand for crewmembers and supply of fresh Pacific salmon are driven by her primary goal of maximizing profit. This is because she hires crewmembers as a means to increase her fishing capacity and catch more salmon, which she then supplies to the market to generate revenue and profit. Intrinsic desire, altruistic motives, and desire to supply to local restaurants may be contributing factors, but they are not the primary incentive for her economic decisions in this scenario.

Scenario 18-1 Madison Kelp Owns Three Boats, Which Participate in Commercial Fishing