The number of each type of book is what is unknown, so we can represent those quantities with variables. Let x = the number of hardbacks and y = the number of paperbacks. Then we know that: x + y = 65 (the total number of books sold) We also know the total cost of both editions, which is $1356. It can be written algebraically as: 28x + 12y = 1356 We now have a system of two equations, which can be solved by substitution. It would be easier to solve the first equation for either x or y and substitute that into the second equation.
Due to the first rule of labor markets, a firm strives to maximize its profits and will therefore never pay more for a worker than the value of his/her marginal productivity to the firm. Therefore, the option A holds true.
<h3>What is the significance of profit maximization?</h3>
A process of following and adapting such methods that derive maximum revenue to the firm is known as profit maximization. It should be the primary goal of any firm in the market.
The first rule of labor markets says that when a firm strives for profit maximization, it does not pay the worker or the labor, more than the marginal productivity that the worker bring to the firm.
Therefore, the option A holds true regarding profit maximization.
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The question seems to be missing. The complete question has been added for better reference.
Due to the ________ a firm strives to maximize its profits and will therefore never pay more for a worker than the value of his/her marginal productivity to the firm.
a. first rule of labor markets
b. demand product value
c. third rule of labor markets
Answer:
The correct option is C
Explanation:
The deficit or shortage on the current account of the country, is defined as the measurement or determination of the trade of the company where the goods and the service value, it imports exceeds or increase the value of the products it exports.
The current account of the country states the foreign transactions of the country within the time period.
So, when there is deficit or shortage on the current account, it means that usually, it will cause deficit in the finance as well as the capital account of the country.
Answer:
Answer Illustration : Opportunity Cost of producing Wine is lesser in France, Opportunity Cost of producing Sweaters is lesser in Tunisia. So, France has comparative advantage in Wine, Tunisia in Sweater.
Explanation:
Opportunity Cost is the cost of next best alternative foregone while choosing an alternative.
Opportunity Cost of producing Sweaters & Wine in France & Tunisia are quantities of other goods (Sweaters or Tunias) sacrifised while choosing either. Sweater Opportunity Cost - Wines sacrifised, Wine Opportunity Cost - Sweaters sacrifised.
The country has a comparative advantage in a good if it can produce it with relatively less opportunity cost (in terms of other good sacrifised) than other country.
Ex : Production Possibilities
Wine Sweater Trade off (Wine :Sweater)
France 10 5 1:0.5 or 2:1
Tunisia 8 24 1:3 or 0.33:1
- France produces Wine with lesser opportunity cost (sweater sacrifised) than Tunisia [0.5 sweater < 3 sweaters] ; it has comparative advantage in Wine.
- Tunisia produces Sweater with less opportunity cost (wine sacrifised) than France [ 0.33 wine < 2 wines] ; it has comparative advantage in Tunisia
Answer:
D. organizational citizenship behavior.
Explanation:
In this scenario exemplified in the question, it can be said that Davy has all work behaviors except the behavior of organizational citizenship.
This behavior can be described as one that is not mandatory as part of the functional requirements of a job position, but an employee who presents organizational citizenship helps the company to promote a culture favorable to the maintenance of ethics and the development and performance of the organization as one all.
Any informal action by the worker that benefits the organization is part of the behavior of organizational citizenship. Some of these dimensions of behavior are altruism, loyalty, conscience, self-development, obedience, etc.
These behaviors are capable of promoting the well-being of the employee and the entire organization.
