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mixas84 [53]
1 year ago
5

Assume that a firm hires an additional employee. If the marginal product for that employee is greater than for the previous empl

oyee hired, it must be that Select one: a. there are gains from specialization. b. all workers are not paid the same wage. c. the workers all perform the exact same set of tasks. d. the marginal product of labour is diminishing.
Business
1 answer:
Tom [10]1 year ago
8 0

If the marginal product for that employee is greater than for the previous employee hired, it must be that there are gains from specialization

<h3>What is marginal product ?</h3>
  • The marginal product or marginal physical productivity of an input (factor of production) in economics, and particularly neoclassical economics, is the change in output that results from using one more unit of a specific input (for example, the change in output when a firm's labor is increased from five to six units), assuming that the quantities of other inputs are kept constant.
  • The marginal product is the mathematical derivative of the production function with respect to that input if the output and the input are infinitely divisible, in which case the marginal "units" are infinitesimal.
  • When more of one input, such as labor, is used while maintaining a constant level of the other input, such as capital, the marginal product initially rises according to the "rule" of declining marginal returns.

To learn more about marginal product with the given link

brainly.com/question/13623353

#SPJ4

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Suppose the United States can produce either 90 apples and 20 oranges or 80 apples and 30 oranges. What is the opportunity cost
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Answer: The opportunity cost of producing 1 apple will be 1 orange.

Explanation:

Opportunity cost is defined as the loss or cost of another alternative when another alternative is being chosen by an economic agent.

In this scenario, the opportunity cost of producing every additional apple will be 1 orange due to the fact that as there's an increase in the production of apple from 80 to 90, there'll be a reduction in the production of orange from 30 to 20.

This indicates that for the increase of 10 apples, there's a reduction of 10 oranges which implies that an increase of 1 apple brings about a reduction by 1 orange.

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2 years ago
Which statement is false? a. Characteristics that would make a misstatement material include: The relative size of the misstatem
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Answer:

The correct option is  "<em>d." Characteristics that would make a misstatement material include: The misstatement makes it probable that the judgment of a reasonable person relying on the information would have been changed or influenced by the omission or misstatement.</em>

Explanation:

<em>A misstatement </em>is a false or incorrect statement. So a material misstatement is a significant statement that is false or incorrect. In the context of a financial audit, a material misstatement is untrue information in a financial statement that could affect the financial decisions of one who relies on the statement.

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2 years ago
Read 2 more answers
Paul just received his bank statement in the mail. The ending balance on the account shows that he has $385.22 available. Howeve
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2 years ago
Describe a real or made up example of a contract that includes consideration
ANEK [815]

Answer:

It is important that all contracts include consideration  in order for any agreement to be legally binding.

The example of a contract of this type is:

Renting a place to use for your sales business. You rent the place for a certain period of time (Let's say one year) and for a settled amount of money. In form of a lease, is stated and stipulated what that amount of money includes (let's say just the place) and what it doesn't include (energy and water bill) as well as the rules for using and living in the place.

This contract applies for both parts once consideration is provided by accepting the terms of conditions and the value agreed.

Explanation:

But this is not my answer I have to give credit to Brainly user  keylacordoba.

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2 years ago
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Answer:

The market price if the bond has a par value of $2,000 is A. $1,790.11

Explanation:

The Market Price, PV of the Bond can be determined as follows :

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YTM = 7 %

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Fv = - $2,000

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Using a financial calculator, the Market Price, PV is $1,790.1088 or $1,790.11.

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