A monopolist will hire workers up to the point at which the wage equals to marginal revenue.
Given that monopolist will need to hire workers.
We are required to find the point up to which the monopolist will hire the workers.
Monopolist is the person or institution who has the largest power of the market means monopolist can change or influence the price according to him or his requirements.
From the definition of monopoly we can say that a monopolist will hire workers up to the point at which the wage equals the marginal revenue.
Wage is a part of cost and it is a variable cost. Variable cost is the cost which is not fixed for all the units. Variable cost increases with the increase in the units of the good.
Hence a monopolist will hire workers up to the point at which the wage equals to marginal revenue.
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COMPLETE QUESTION:
Demand Supply
P = 50 - QD P = 10 + 1/3 QS
QD = 50 - P QS = 3P - 30
Refer to Table 4-6.ȱȱ
The equations above describe the demand and supply for Aunt Maudȇs
Premium Hand Lotion.ȱȱ
The equilibrium price and quantity for Aunt Maudȇs lotion are $20 and
30 thousand units.ȱȱ
What is the value of consumer surplus?
Answer: $450,000
Explanation:
P = 50 - QD P = 10 + 1/3 QS
QD = 50 - P QS = 3P - 30
Using the above equation,
Consumer surplus = $450,000
Answer:
Outsourcing
Explanation:
Outsourcing is a term often used in business relationships that describes a practice in which companies ensures that best candidates are employed for a particular work often contract job, without getting involved in the process of sourcing and appointing internally. It can be used for various operations such as audition works, procurement, planning strategy, etc.
Hence, in this case, the correct answer is OUTSOURCING
Answer: it would be 100 business travlers who will pay 600$ for a ticket
Explanation: well if you do the math 600×100=60,00 and that would pay for the airline expenses and extra the other option wouldnt be enough because it would only add up to 15,000 300×50=15,00 so it would be enough
