Assume the Following Is True: in the Past,many Firms Promised

Multiple Choice

Assume the following is true: in the past,many firms promised their workers a certain type of pension plan in exchange for lower wages.Recently,these firms reneged on their promise by changing to another pension plan that was significantly less valuable to older workers (but was more valuable to younger workers) .Assuming the original promised plan was expected to be profitable,why would firms change their plans?

A) Firms had to report the costs of these plans to stockholders.
B) Firms wanted to motivate older workers to work harder.
C) Due to technical change, the skills of older workers became less valuable.
D) Firms placed a higher value on having a good reputation.