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evablogger [386]
3 years ago
11

Kate is a florist. Kate can arrange 20 bouquets per day. She is considering hiring her husband william to work for her. Together

kate and william can arrange 35 bouquets per day. What is william’s marginal product?
Business
1 answer:
Grace [21]3 years ago
4 0

Answer:

Marginal product is the addition to the number of goods produced when 1 worker is added to the workforce. In this case one worker will be added to the workforce if William is hired. When will is hired the bouquets per day increase from 20 to 35. This means that the addition to the number of bouquets is 15(35-20). So When William is hired the number of goods increase by 15 which means William's Marginal product is 15.

Explanation:

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Answer:

Increase by 4.8%

Explanation:

The 4% price reduction will cause an increase in demand by 2.4%.  

\Delta Q/Q=\epsilon_p*\Delta P/P=(-0.6)*(-0.04)=0.024

The 2% rise in income will cause an increase in demand by 2.4%

\Delta Q/Q=\epsilon_I*\Delta I/I=(1.2)*(0.02)=0.024

If we take into account both variations and add them, we have an increase in demand by 2.4%+2.4% = 4.8%

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True or false: production runs can be scheduled in one or two shifts.
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The answers are as follows:
1. TRUE.
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2. FALSE
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3. FALSE.
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Staff turnover refers to the rate at which employees are leaving a company and new employees are been absorbed. High staff turnover will make the company to spend more money on resources and training of new staffs.  
4. TRUE.
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5. FALSE
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8. FALSE.
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