Assume that skilled labor costs twice as much as unskilled labor, a profit maximizing firm will hire until the marginal product of unskilled labor is half that of skilled labor.
A profit maximizing firm is a firm that tries to create products that are of good quality at the barest or smallest cost.
The marginal product falls after an additional amount of the resource has been added. It is the extra amount that is gained due to the addition of an extra unit.
Due to the fact that both the skilled and unskilled would decrease eventually, the company would have to hire both at equal marginal products.
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D
This is shown because when a item in demand is needed it becomes price and thus becomes lower of supply and gains value
Answer:
$6,000
Explanation:
Since it is stated in the question that "Typically, the credit card bill is paid in full in the following month", it implies that cash will be disbursed in October for purchases of goods made in September, while cash will be disbursed in November for purchases of goods made in October.
Based on this, Lambert's expected cash disbursement in October for purchases of goods made in September is $6,000, while his expected cash disbursement in November for purchases of goods (a new computer) made in October is $4,500.
Answer:Flexible
Explanation:
According to the question, clothing store tracks the sale at each location so, they are taking a very large base of consumers and they are considering each consumer that is why the quality information is flexible.
Demands of each consumer may vary such that one wants cotton fabric, another wants polyester so this makes the information more flexible as it may vary largely.
