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Kipish [7]
2 years ago
15

An employer hiring in a competitve labor market should hire additional labor as lnog as?

Business
1 answer:
dybincka [34]2 years ago
4 0

An employer hiring in a competitive labor market should hire additional labor as long as the marginal revenue product (MRP) exceeds the wage rate.

Marginal revenue product (MRP), also called the marginal fee product, is the marginal sales created due to an addition of 1 unit of resource. The marginal sales product is calculated via multiplying the marginal physical product (MPP) of the useful resource through the marginal sales (MR) generated.

How do you calculate marginal revenue product made from labor?

The marginal revenue product fabricated from a worker is equal to the fabricated from the marginal fabricated from exertions (MPL) and the marginal revenue (MR) of output, given with the aid of MR×MPL = MRPL.

Why is marginal revenue product vital?

Marginal revenue product (MRP) explains the additional revenue generated by means of adding an additional unit of manufacturing resource. it's miles an important idea for determining the demand for inputs of production and analyzing the most advantageous amount of a useful resource.

Learn more about marginal revenue product  here:-brainly.com/question/13444663

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Alexus [3.1K]
Put no or strongly disagree
8 0
3 years ago
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Lindsay is training two new sales representatives, Lance and Ayden, to use the revised client-tracking database, which has been
Semenov [28]

Answer:

a. Be sure that Lance and Ayden know how to connect to Lindsay’s desktop.

b. Frequently ask Lance and Ayden if what she is saying makes sense.

e. Expect to review meeting content due to the limitations of virtual technology.

Explanation:

In today's world there is a wide array of different programs that allow us to virtually connect with other individuals in order to communicate, share ideas, and hold meetings. These options, unfortunately, have their downsides as well, the main one being faulty connection which leads to miscommunication. This can lead to serious problems. Therefore the best way to guarantee success is to help those attending the meeting make sure they know how to connect and participate correctly, and continuously make sure they are understanding everything that is being said. Once the meetings are done, a review will make sure that everyone is on the same page and clear up any questions that anyone may have.

6 0
3 years ago
Setrakian Industries needs to raise $71.8 million to fund a new project. The company will sell bonds that have a coupon rate of
Harlamova29_29 [7]

Answer:

39,183  bonds

Explanation:

In order to determine the number of bonds that must be sold to realize cash of $71.8 million,the price per bond needs to be established using pv formula in excel as found below:

=-pv(rate,nper,pmt,fv)

rate is yield to maturity of  6.46% divided by 2

nper is the number of coupon payments which is 25 years multiplied by 2 i.e 50

pmt is the amount of semiannual coupon  i.e $2000*5.78%*6/12=$57.8

fv is the face value of $2000 per bond

=-pv(6.46%/2,50,57.8,2000)=$ 1,832.43  

number of bonds to be issued=$71,800,000/$ 1,832.43  = 39,183  bonds

5 0
4 years ago
A price ceiling will have NO immediate effect if: a. it is set above the equilibrium price. b. the equilibrium price is above th
ioda

Answer:

A. Set above equilibrium price

Explanation:

A price ceiling is a mandatory maximum price that a seller is allowed to charge. Generally, a government may impose this in order to protect consumers, especially with regards to the purchase of essential goods.

If the price ceiling was set below the equilibrium price (option c) or if the equilibrium price is above the price ceiling (option b), it will immediately cause a shortage (option d) since the quantity demanded would be higher than the quantity supplied when the price falls. This is because people will be willing to purchase more since it is cheaper but suppliers will be willing to produce less due to lower profits. Hence, options b, c and d are eliminated.

Option A is correct because... (please refer attached diagram):

When the price ceiling is above the equilibrium price, suppliers are willing to supply more since they can make higher profits but consumers will reduce purchasing since it is expensive. However, it does not cause any immediate effect because it takes time for suppliers to be able to produce more and cannot be done immediately unless anticipated in advance. In the long run however, quantity demanded will fall from equilibrium quantity to D1 and quantity supplied will rise from equilibrium quantity to S1. Hence, causing a surplus between D1 - S1 in the long run.

4 0
4 years ago
If GDP for a certain economy is $1,200 billion at the end of year 1 and $1,300 billion at the end of year 2, the economy's growt
gavmur [86]

Answer:

a. 8.33 percent

Explanation:

The computation of the economy's growth rate between the two years is presented below:

= (GDP at the end of year 2 - GDP at the end of year 1) ÷ (GDP at the end of year 1) × 100

= ($1,300 billion - $1,200 billion) ÷ ($1,200 billion)  × 100

= ($100 billion) ÷ ($1,200 billion)   × 100

= 8.33%

The economic growth rate is always expressed in percentage form

5 0
3 years ago
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