The significance of Total product, Average product, and Marginal product is that they show how effective, and efficient a manufacturing process is.
<h3>How do these metrics show productivity?</h3>
Taking the labor component in production as an example, one can see the impact of these metrics.
The total product will show just how much goods and services in total that the given amount of labor was able to produce. This gives management an idea of the effectiveness of the labor in producing goods and services.
The average product then shows how efficient labor is because it gives an idea of the products produced per labor.
Marginal product is very important as well because it helps management to know when to stop hiring labor. This point will be the production level that sees the marginal product being less than the cost of hiring additional labor.
These three metrics are therefore important to management because they help to determine effectiveness, efficiency, and cost of production.
Find out more on marginal product at brainly.com/question/24698689.
The answer is <span>a. attempt to make large payments or bribes to influence policy decisions of foreign governments.</span>
The reciprocals of one another is the term that describes the relationship between the flow rate and the capacity of each labor resource that works in a process.
<h3>What is a flow rate in production?</h3>
Its means the amount of flow units such as a customers, money, goods going through the business process per unit time.
Hence, the flow rate and capacity of each labor resource are reciprocal because they work together in a process unit.
Read more about flow rate
<em>brainly.com/question/24356835</em>
Your answer should be 40 million dollars
Answer:
Total Liabilities = $62.273 million
Explanation:
<em>The accounting equation state that :</em>
Total assets = capital + liabilities.
<em>This is a fundamental relationship that underpins the preparation of financial statements</em>
<em>Capital for a company is represented by the shareholders funds which is the book value of issued common stock, share premium plus the retained earnings.</em>
So we can apply the equation to the figures of Chester Corporation
81.965 =( $2.540 + 17.152 ) + liabilities
Liabilities = 81.965 - ( $2.540 + 17.1552 )
= $62.273 million
Total Liabilities = $62.273 million