Answer:
Present value= $62,722.875≈ $62,723
Explanation:
To calculate present value use this formula
Present value= Yearly payment*{[1-(1+rate)^-period]/rate}
Present value= 8,500*{[1-(1+0.11)^-16]/0.11}
Present value= 8,500* {0.8117/0.11}
Present value= 8500*7.379= $62,722.875
Answer:
Diminishing marginal product of labor.
Explanation:
Remembering the law of diminishing marginal product which states that by additing unit of labour, while keeping other factors constant would over time lead to lesser output of labour.
Thus one may expect a sports team who continues to add players (additional unit of labour) to its roster above the minimum in the field would eventually not lead to increase efficiency in the field since other factors are kept constant such as increase training for players.
Answer:
Lies below its demand curve and is steeper than its demand curve.
Explanation:
The marginal revenue curve for a monopolist lies below the demand curve because of the quantity effect. The quantity effect refers to the fact that even a monopolist must lower its price if it wants to sell a larger quantity of goods or services.
The slope of the marginal revenue curve is steeper than the demand curve because it reflects the market power of the monopolist. Instead, the marginal revenue curve for a perfectly competitive firm (with 0 market power) is horizontal or perfectly elastic.
Answer:
d) All of above
Explanation:
A partnership agreement provides guidelines on how two or more partners will manage their partnership business. It is the contract that dictates each partner's roles, profit and loss sharing formula, and personal liability of each in case of insolvency.
In the absence of a partnership agreement, the law prescribes that partners share profits and losses equally. All partners assume equal rights to responsibilities and liabilities.
