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2 years ago

if the firm sells its product at the market price of $10 per unit, the marginal revenue product of the fourth worker is

Business

2 answers:

suter [353]2 years ago

6 0

The marginal revenue product of the fourth worker is $50

<h3>What is the marginal revenue product?</h3>

The product of the fourth worker is equal to the marginal product of the fourth worker.

The amount that production increases when a fourth worker is added and multiplied by the price of the product.

MRP = (26-21)*$10

MRP = $50.

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shtirl [24]2 years ago

6 0

The marginal revenue product of the fourth worker if the firm sells its product at the market price of $10 per unit is $50.

<h3>What is marginal revenue product?</h3>

The marginal revenue product (MRP) of labor refers to the extra revenue earned by hiring an extra unit of labor.

Marginal product(MP): This is the the extra unit of output produced as a result of additional unit of input.

MRP of the fourth worker = MP of the fourth worker × price of the product.= (26 - 21) units × $10= 5 × $10= $50

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You might be interested in

How is a contingent liability reported if it is considered ""reasonably possible?""

viva [34]

This is because a loss would be recorded (debit) and liability established (credit) in advance of the settlement.

Responsibility is the responsibility of the individual or company and is usually the amount. Debts are settled over time by the transfer of economic interests, including money, goods, or services. The liabilities shown on the right side of the balance sheet include loans, liabilities, mortgages, income receivable, borrowings, guarantees, and accrued expenses.

Liability can be compared to assets. Debt is what you owe or owe. An asset is something you own or owe.

Main findings

Responsibility (generally) is something that owes someone else.

Liability may also mean legal or regulatory risk or obligation. In

accounting, companies compare liabilities to assets.

Current liabilities are short-term financial liabilities of companies that are due within a year or within the normal business cycle (such as accounts payable).

Long-term (long-term) liabilities are liabilities that are recorded on the balance sheet and are due within one year.

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3 0

2 years ago

If you deposited $1,000 in a savings account that paid an annual percentage rate of 1 percent and that compounds quarterly, how

WARRIOR [948]

We will have an amount of $1,010.04 at the end of a year if you did not take out any funds.

<h3>What formula will be used to calculate the balance?</h3>

The future value formula will be used to calculate the total balance after a year.

Given that: A = $1,000, i = 1%, n = 1, m = 4

Future value = $1,000 * (1 + 1%/4)^(1*4)

Future value = $1,000 * (1 + 0.0025)^4

Future value = $1,000 * 1.0025^4

Future value = $1,000 * 1.01003756254

Future value = $1,010.03756

Future value = $1,010.04

Therefore, we will have an amount of $1,010.04 at the end of a year if you did not take out any funds.

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6 0

2 years ago

At a price of $8.5 per ticket, a musical theater group can fill every seat in their 1800 seat performance hall. For every additi

sasho [114]

Answer:

The ticket price that maximizes revenue is $18.10

Explanation:

Hi, first we need to construct the revenue equation in terms of the additional dollar charge (that would be X). That is:

$Revenue=Price*Quantity$

$Revenue=(8.5-X)(1,800-65X)$

So we expand it:

$Revenue=15,300-552.5X+1,800X-65X^{2}$

$Revenue=-65X^{2} +1247.5X+15,300$

This is a parabola, and we need to find its vertex, which in our case that would be the maximum additional dollar charge in order to obtain the highest revenue possible, to find the vertex, we need to consider that:

$Y(X)=AX^{2}+ BX+C$

And to find the X-coordenate we have to use the following equation.

$Vertex(X)=\frac{-B}{2A}$

In our case, A= -65; B= 1,247.5, so, all should look like this:

$Vertex (X)=\frac{-(1247.50}{2(-65)} =9.6$

That means, we need to make 9.6 increments of $1 in order to obtain the max revenue possible, therefore, the price would be

Price = $8.50 + $1(9.6)= $8.50 + $9.6 =$18.10

Best of luck.

7 0

3 years ago

Zibb is a transnational electronics company based in Germany. It has factories in China, Mexico, and India. The company aims to

Brrunno [24]

It’s C) The geocentric orientation

I hope this helped out, have a nice day! :)

5 0

3 years ago

A 20-year loan of 2,500 is repaid with payments at the end of each year. Each of the first ten payments equals 175% of the amoun

Firdavs [7]

Answer:

The answer is 156.25

Explanation:

In the 1st year:

- Interest: 2,500 x 5% = 125

- Payment amount: 125 x 175% = 218.75

- Principal: 218.75 - 125 = 93.75

Hence, the principal payment in 20 year loan as follow:

10 x 93.75 + 10 x X = 2,500

=> X = 156.25

4 0

4 years ago