Answer:
Estimated as Elastic Demand
Explanation:
Elastic demand is where a change in price causes a significant change in demand, therefore 20 hats to 15 hats can be considered significant and we can conclude that it's elastic demand.
Answer:
correct option is B: $29,000
Explanation:
given data
apartments = 15
family homes = 45
office buildings = 25
pay for cleaning staff = $12.50/hour
solution
we get here Total Budgeted hours that is
type Number Hrs/Clean No of Cleans Total Hours
Apartments 15 4 4 240
Homes 45 6 4 1080
Office 25 10 4 1000
Total Budgeted hours need per month 2320
Budgeted cost per month that is 12.50/hrs so it will 29000
so correct option is B: $29,000
I feel like we should but your teachers want more education time at my school we have 40 minutes of P.E
Answer:
explanation of opportunity cost:
A. Because of scarcity, people must make choices, and each choice incurs a cost
exampes of opportunity cost:
A. The money spent on a movie ticket cannot buy a Blu-ray player
C. The time spent preparing for a test cannot be spent playing computer games
Explanation:
The opportunity cost refers to the return or ouput of the resource used in the best alternative decision.
That means, the wages we get fro ma certain job most be compared with the wages we could do in another to really check if we are making a gain or not with our job.
Same applies for capital and other factors.
Answer:
The income received by an individual who supplies labor services equals the incremental benefit generated to the firm by the individual´s labor
Explanation:
The marginal productivity theory of income or wages states: firms pay a salary that is equal to the extra benefit a (that is why is marginal; an extra unit in this case is an extra unit of labor) worker represents in output of production. In other words, if the firm employees a new worker, its salary would be equal to the extra output produced by him or her (marginal product of labor). Because of this, wages depend on the production function each firm has. The mathematical formula to get the marginal product of labor is: dF/dL, where F is the production function and L represent labor in it.
