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vazorg [7]
3 years ago
14

NEED ANSWER ASAP

Business
1 answer:
myrzilka [38]3 years ago
6 0

Answer:

i dont know if it is right but i think it is D

Explanation:

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Suppose that XYZ Company hires labor and capital in competitive input markets. Assume that labor costs $200 per day and that a u
GuDViN [60]

Answer:

a) Yes, the firm is minimizing the cost of current production. This is because MRPL / w = MRPC / r = 0.20.

b) The long run adjustments that the firm would likely make in response to the wage increase is to use more labor and less capital until MRPL / w = MRPC / r, which is the condition for the cost minimization of a firm.

Explanation:

a) Given the information provided, is the firm minimizing the cost of current production? Explain why or why not.

The condition for the cost minimization of a firm is as follows:

MRPL / w = MRPC / r ……………………………. (1)

Where:

MRPL = Labor's marginal product = 40

w = Cost of labour = $200

MRPC = Capital's marginal product = 30

r = Cost of capital = 150

Therefore, we have:

MRPL / w = 40 / 200 = 0.20

MRPC / r = 30 / 150 = 0.20

Since MRPL / w = MRPC / r = 0.20, this implies that these conditions are consistent with equation (1). Therefore, the firm is minimizing the cost of current production.

b) If the daily wages were to increase, explain the long run adjustments that the firm would likely make in response to the wage increase.

If the daily wages were to increase, the MRPL / w in equation (1) in part a above will fall and we will have:

MRPL / w < MRPC / r …………………… (2)

Since equation (2) is no longer consistent with equation (1), the firm is NOT minimizing the cost of current production.

Therefore, the long run adjustments that the firm would likely make in response to the wage increase is to use more labor and less capital until MRPL / w = MRPC / r, which is the condition for the cost minimization of a firm.

7 0
3 years ago
____________ include veterans’ payments, welfare, and social security payments..
zvonat [6]

Answer:

<u><em>Statement of Payments</em></u>

Explanation:

<em><u>Statement of Payments</u></em> include veterans’ payments, welfare, and social security payments..

<u><em>Social Security Benefits </em></u>are payments made to qualified retirees, disabled persons, to their spouses, children and survivors etc.

<u><em>A statement of payments</em></u> is  usually submitted with income tax return to receive the Senior Citizens'€™ Exemption.

7 0
3 years ago
A beta distribution center worker was injured when she tried to remove items on the shelf and not a heavy box onto her for a wee
LenaWriter [7]

Answer:

C. Teach procedures for stacking items in straight, even loads.

Explanation:

7 0
3 years ago
The us saving and loan crisis of 1970s
cluponka [151]

Answer:

none of these describe the savings and loan crisis

7 0
3 years ago
Read 2 more answers
Your uncle has $340,000 invested at 7.5%, and he now wants to retire. He wants to withdraw $35,000 at the end of each year, star
timama [110]

Answer:

17.27 years

Explanation:

For this question we use the NPER formula that is shown on the attachment below:

Provided that  

Present value = $340,000

Future value = $25,000

PMT = $35,000

Rate of interest = 7.5%

The formula is shown below:

= NPER(Rate;PMT;-PV;FV;type)

The present value come in negative

So, after solving this, the number of year is 17.27 years

5 0
3 years ago
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