Answer:
Even when competitive firms are unable to calculate marginal revenue product directly, <u>competition in the labor market</u> will push wage rates toward the marginal revenue product of labor.
Explanation:
The labor market is made up of employers seeking for labor and employees offering their labor services. The law of supply and demand also applies to this market, when more employers are seeking employees, the price (= salary) will increase.
For example, if many companies are making a profit and they need more labor, the salaries will rise because the demand is rising.
Also the suppliers, the potential employees, compete against each other for the best possible jobs.
Generally, the price of <u>other goods</u> is an important determinant of demand for a product.
<h3>What are the determinants of demand? </h3>
The determining factor for demand level of a product includes changes in income, prices of related goods, consumer expectations, consumer tastes etc.
Therefore, the price of <u>other goods</u> is an important determinant of demand for a product.
Read more about determinants of demand
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Answer:
A. 2500
Explanation:
10,000 shares x $5 x .05= 2500
Because it does that so you will need ramen noodles and chalk to draw grass to chickens can grow in the sky.
Answer:
A) debit interest expense, $1000
Explanation:
to determine the accrued interest expense = $100,000 x 6% x 2/12 = $1,000
the journal entry should be:
December 31, 2018, accrued interest expense on note payable:
Dr Interest expense 1,000
Cr Accrued interest payable 1,000
Accrual accounting establishes that expenses must be recognize during the period that they occur regardless of when they are paid. So we must recognize 2 months worth of interest.
