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gogolik [260]
1 year ago
9

An employer hiring in a competitive labor market should hire additional labor as long as Multiple Choice the wage rate is less t

han MP. MC exceeds MR. average product exceeds MP. the MRP exceeds the wage rate.
Business
1 answer:
KATRIN_1 [288]1 year ago
6 0

The correct answer is-  the MRP exceeds the wage rate.

<h3>How does MRP influence wage rates?</h3>

Basic economic theory suggests that wages depend on a worker's marginal revenue product MRP. (this is basically the value that they add to the firm which employs them.)

MRP is determined by two factors: MPP – Marginal physical product – the productivity of a worker.

<h3>What factors increase wages?</h3><h3>Productivity:</h3>

Wage increase is sometimes associated with increase in productivity.

Workers may also be offered additional bonus, etc., if productivity increases beyond a certain level.

Learn more about MRP and wage here:

<h3>brainly.com/question/21252933</h3><h3 /><h3>#SPJ4</h3>
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ncome Statements under Absorption Costing and Variable Costing Gallatin County Motors Inc. assembles and sells snowmobile engine
Mnenie [13.5K]

Answer:

<u>Income statement according to the absorption costing</u>

Sales                                                                                         2,600,000

Less Cost of Goods Sold

Opening Stock                                                          0

Add Cost of Goods Manufactured

Direct materials                                                   1,218,000

Direct labor                                                           522,000

Variable factory overhead                                     87,000

Fixed factory overhead                                        130,500

Less Closing Stock (1,957,500/4,350)×350      (157,500)       1,800,000

Gross Profit                                                                                   800,000

Less Period Costs :

Selling and administrative expenses:

Variable selling and administrative expenses                           (60,000)

Fixed selling and administrative expenses                                (25,000)

Net Income                                                                                    715,000

Explanation:

<em>Product/Manufacturing Cost - Absorption Costing = Direct Materials + Direct Labor + Variable Overheads + Fixed Overheads</em>

<em>Period Cost - Absorption Costing  = All Non - Manufacturing Costs</em>

<u />

7 0
3 years ago
Social recognition, in which social media is used to recognize employee performance on a daily basis, has not yet been found to
uysha [10]

Answer:

The correct answer is letter "A": True.

Explanation:

<em>Social media</em> can be useful for different purposes but is <em>not the best platform through which executives should provide employee appraisal</em> because of its informal character. There are some other dynamic approaches such as 360-degree feedback in which not employers but also coworkers can rate employees' performance in their work frame, being this one of the most effective methods to boost their efficiency.

7 0
3 years ago
On a common-size balance sheet all accounts for the current year are expressed as a percentage of:
OLga [1]

Answer:

d. Total assets of the current year.

Explanation:

All accounts of the current year regardless of their nature, what I mean with this is that any account could add or subtract, all that kind of operations at the end give you the total result of the current year, and every account of the respective year could be expressed as a percentage of the total assets of the respective year, for example:

                                                                                                                                                 

Total assets year A         $1000                        Total assets year A  100%  

cash  year A                     $200                         cash  year A              20%        

equipment  year A          $600                          equipment  year A    60%

buildings    year A           $200                          buildings   year A       20%

Every account correspond to the same year of the calculation.

7 0
3 years ago
Distinguish between the resource market and product market in the circular flow model. In what way are businesses and households
Firlakuza [10]

Answer:

Resource Market : <u>Sellers (households)</u> sell factors of production to <u>buyers (businesses)</u>, in return of factor incomes.  

Product Market : <u>Sellers (businesses)</u> sell goods & services to <u>buyers (households)</u>, in return of price expenditure for goods & services.

Explanation:

Circular flow of Income is flow of payments & receipts for goods, services & factor services between sectors (firms & households) of economy.

Households sell factors of productions i.e land, labour, capital, entrepreneur to buyers businesses . They get factor incomes i.e rent, wages, interest, profit in return from them .

Businesses sell goods & services to buyers households. Households spend factor incomes earned from supplying production factors, in paying prices for those goods & services.

Product Market : Involves flow of factor services, final products & services - from households to firms, from firms to households respectively.

Money Market : Involves flow of monetary factor payments, prices expenditure- from firms to households, from households to firms respectively

6 0
3 years ago
Ed and Marta are paid $3,250 after taxes every month. Monthly expenses include $1,200 wo''""'" on housing and utilities, $550 fo
Digiron [165]

Answer:

Savings Ratio = 6.15%

Explanation:

  • To calculate the savings ratio, income statement should be prepared at first.
  1. You should find the Income statement in the picture attached

According to the Income statement Ed and Marta has $200 available for savings after taking out all the expenses.

  • After preparing the Income Statement, now we can calculate the savings ratio by using the formula mentioned below.

Formula: Savings ratio =  \frac{Income available for saving}{Income available for living expenditure\\}

After applying the formula we get:  Savings ratio = \frac{200}{3250}= 0.0615 = 6.15%

Interpretation: As the ratio is about how much income you have for the savings in percentage. It is a great tool to determine weather you can save more or are savings enough, which in turn will help you in future decision making.

Ed and Marta's savings ratio is about 6% which is enough for them and means that they are saving much, although it's not even near to favorable percentage which is 10% but considering their will power to save even 6% is good. Further they should compare this to past savings ratio to get the idea of where they are standing at right now. Even better would be comparing this ratio with their desired savings if they have any in their mind.

4 0
3 years ago
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