Answer:
Economists generally agree that
c. differences in average wages do not by themselves provide conclusive evidence about the magnitude of discrimination in labor markets.
Explanation:
This means that there are many factors that cause differences in average wages. It also implies that discrimination in labor markets cannot be explained by the differences in average wages. Discrimination in the labor markets is caused by differences in race, gender, religion, age, and disability considerations. Other factors that contribute to differences in average wages include the presence and use of technology, globalization of labor, and the decline of organized labor in the modern economy.
Answer and Explanation:
1.Increasing opportunity costs
2.Increasing marginal costs
Answer: Yes, the firm should continue to produce in the short run as its revenues cover all of its total variable cost of $16,000.
Explanation:
Given that,
Produces = 3,000 units
Total cost = $36,000
Fixed cost of production = $20,000
price of each good = $10
Total cost = Total fixed cost + total variable cost
$36,000 = $20,000 + Total variable cost
Total variable cost = $36,000 - $20,000
= $16,000
Revenues = 3,000 units × price of each good
= 3,000 × $10
= $30,000
Yes, the firm should continue to produce in the short run as its revenues cover all of its total variable cost of $16,000.
Answer:
8 business functions:
Explanation:
1. Finance's role is to fund, manage budgets, accounting, financial controls, and audits.
2. Marketing's role is processing like promotions, pricing, sales and distributions.
3. Information Technologies role is to developed and operate systems and applications.
4. Customer Service's role is managing customers and handling their needs or requests like inquiries or returns.
5. Production's role is manufacturing products or delivering for different services.
6. Distribution's role is the process of teaching the customer with the product you are delivering or service you are providing.
7. Design's role is prioritizing and making sure the design of the product or service stands out as it's own business function.
8. Governance's role is firm in direction and control. They manage the performance of management.
<span>Selling your ideas to middle and supervisory management is necessarily a part of a person own way of marketing the idea as well as on the ideas feasibility. For the idea of collection agency, middle and supervisory level must be highlighted with the revenue part. They should be informed like appointing an agency will actually help in reducing bad debts and will increase company revenue. This is how the idea should be sold.</span>