I believe outsourcing is a highly contested idea because people would rather have the products they use produced in their country. I think outsourcing is a good idea because production of a product might be cheaper in another country but sometimes that means a less of quality product.
Brainliest?
Answer:
The slope of the total output curve at the relevant point.
Explanation:
A marginal physical product can be defined as the extra output which is being generated by using an extra input. This ultimately implies that, marginal physical product of labor refers to the change in the level of output that is generated from using an additional unit of labor.
Mathematically, marginal physical product of labor is given by the formula;
Marginal physical product of labor = ΔY/ΔL
Where, ΔY is the change in total physical output.
ΔL is the change in labor.
In the short run, when the number of workers are increased it would result in a diminishing marginal product with respect to the law of diminishing marginal returns.
The marginal physical product of labor is the slope of the total output curve at the relevant point.
<em>For instance, if brainly producing 50 answers decides to employ one more tutor and is then able to produce 55 answers, the marginal physical product of labor is simply 5. </em>
Meritocracy is a system based on
a dominant ideology involving the widely shared belief that all people have an
equal chance of succeeding economically or a political philosophy stating that
power should be vested in individuals based on their hard work and skills.
In a world that is synchronized on a global scale, trade between nations is constant. Imports cannot be reduced by 20% in order to close the trade deficit.
<h3>Why it is not possible to reduce imports?</h3>
There are certain nations that will be impacted if the United States decides to cut imports by 20%.
As a result, imports from the United States will likewise be restricted in other nations.
In other words, the United States may experience a fall in exports while attempting to reduce imports. The overall impact on trade imbalances could be minimal.
The trade conflict between the United States and China is a good illustration. China responded to the United States taxes on its imports by imposing its own levies. As a result, both countries suffered.
As a result, there is no quick fix for decreasing trade deficits. A more delicate balance between consumption and production must be achieved over time.
The manufacturing industries must have favorable policies and incentives to encourage consumer demand for locally made items.
Check out the link below to learn more about trade deficit;
brainly.com/question/28708620
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pay as much as possible each month. This saves finance charges in long run.
