Answer:
Explanation:
Labor Input Physical output
10 500
11 600
12 690
13 760
14 800
marginal output of 11 th labor = 600 - 500 = 100
price of each product = 7
marginal revenue product of 11 th labor 7 x 100 = 700
B )
price of each of the goods sold = 10
marginal factor cost of labour = 700
minimum no of goods to be sold to cover the labour cost
= 700 / 10 = 70
no of goods added due to addition of 11 the labour = 100
no of goods added due to addition of 12 the labour = 90
no of goods added due to addition of 13 the labour = 70
so no of units of labor upto which the firm will continue to hire
= 13 .
Answer:
The total contribution to the​ country's GDP from companies Bigdrill and​ Bigoil is $600 million.
Explanation:
GDP = market value of the goods and services
= $600 million
Therefore, the total contribution to the​ country's GDP from companies Bigdrill and​ Bigoil is $600 million.
Answer:
Outputs of operations management processes are always tangible goods.
Explanation:
Operations management focuses on the production and distribution processes of both goods and services. Its main goal is to improve the efficiency and effectiveness of the processes involved.
When applying operations management o service processes, you must pay attention to how the service is delivered to customers, e.g. procedures, schedules, activities, etc.
Answer:
Explanation:
These are competence needs. These needs are based on the idea that a person needs to feel a sense of mastery when they are undertaking tasks at a job. When the manager gives the worker a sense of accomplishment by noticing when they are doing the job well, this is a way of fulfilling those needs.
B) By the real GDP per capita
