Answer:
pay a wage rate less than labor's MRP
Explanation:
A monopsonistic employer in an unorganized (nonunion) labor market will: "pay a wage rate less than labor's MRP"
The above statement is based on the idea that Monopsony is a market situation whereby a single buyer or firm is the only purchaser of a good or service, which in most cases has to do with the purchase of labor.
And given the fact that the firm is the sole purchaser of labor, where there is no labor union, there is a high tendency that such firm or employer pays a wage rate less than labor's marginal revenue productivity.
Answer:
A price increase of 1% will reduce quantity demanded by 4%
Explanation:
If the price elasticity is 4 then, this demand is highly responsive to changes in price.
So it will decrease by more than the price increase.
we must remember that the price-elasticity is determinate like:
↓QD / ΔP = price-elasticity
if the cofficient is 4 then a 1% increase in price:
↓QD / 0.01 = 4
↓QD = 0.04
Quantity demanded will decrease by 4%
Answer:
- Materials - 100,400
- Conversion - 95,600
Explanation:
Equivalent Units = Units Completed and Transferred out + Ending Work in Progress.
Materials Equivalent Units
Ending Work in Progress = 90% * 16,000
= 14,400 units
Equivalent Units = 86,000 + 14,400
= 100,400 units
Conversion Equivalent Units
Ending Work in Progress = 60% * 16,000
= 9,600 units
Equivalent Units = 86,000 + 9,600
= 95,600 units
D for sure is the correct answer
