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lukranit [14]
3 years ago
9

A firm currently produces 3,500 units of output per week. After an additional worker is hired, output rises to 3,750 units per w

eek. If the weekly wage paid to a worker is $500, what is the firm's short-run marginal cost? A. $500 B. $250 C. $2 D. None of the above is correct.
Business
1 answer:
MrRissso [65]3 years ago
4 0

Answer:

C. $2

Explanation:

The marginal cost is the cost for producing an additional unit of the product. According to this and as the statement says that with the additional worker the output rises to 3,750, teh first thing is to find the number of additional units that were produced:

3,750-3500= 250

With the new worker, the firm produces an additional 250 units that cost $500 because this is the salary of the new worker and to calculate the cost of one additional unit you have to do the following:

250 units ⇒ $500

     1 unit  ⇒      x

x=( 1*500)/250= 2

The firm's short-run marginal cost is $2.

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The amount of a good that buyers are willing and able to purchase at a given price.
inysia [295]

Answer:

Quantity demanded is the amount of a good that buyers are willing and able to purchase at a particular price. Many things determine demand, but only price can determine the quantity demanded of a specific good. If you have the money and are willing to buy 2 ice cream cones a week, at $2 per cone, the quantity demanded would be 2 cones a week. Now, what happens if the price increases to $4 a cone? If you are like most people, the quantity of ice cream cones you demand will decrease as the price rises. In this case, assume your quantity demanded is now only 1 cone a week, which is what you are willing and able to buy. Notice that as the price of the cones increases, the quantity of ice cream cones demanded decreases. This means quantity demanded is negatively related to price-which means they have an inverse relationship. Economists refer to this relationship as the law of demand. The law of demand states that, other things being equal, when the price of a good rises, the quantity demanded of that good falls. The reverse is also true-when the price of a good falls, the quantity demanded of that good rises. The combination of the quantities people are willing and able to buy of a good or service at various prices constitutes a demand schedule. When the demand schedule is graphed, the demand curve is downward sloping.

7 0
2 years ago
The growers of Sunny Day Citrus have determined that their chief priority for choosing a transportation mode within the United S
Leya [2.2K]

Answer:

Rail transportation

Explanation:

Considering the situation described above in the questions, Sunny Day Citrus should use RAIL TRANSPORTATION to ship their oranges.

There are basically four means of shipping goods, these include road, maritime, rail, and air shipment.

However, considering the need to achieve quick transit time, low margins, low cost, and the highest level of reliability the best means of use is RAIL TRANSPORTATION.

This is because while Air shipment is the fastest, it is the most expensive. Also, the Maritime or Ship may be the lowest in terms of cost, but since it is within the United States, it would be relatively expensive compared to rail and also is the slowest in terms of transit time.

Similarly, the road may be faster and relatively cheaper compared to air, but not as cheaper compared to the rail in a long distance.

Rail transportation offers cheaper, low margins, reliability as it is difficult to have accidents and robbery of such commodities inside the train. It is also quite faster compared to ship.

Hence, in this case, the right answer is RAIL TRANSPORTATION

8 0
3 years ago
Which of the following is not one of the four types of analyses outlined in the text as a method for analyzing sales organizatio
Readme [11.4K]

Answer:

e. market-share analysis.

Explanation:

e. market-share analysis because it is not only dependent on sales. Other factors are other industries markets total sales . It is not directly associated with analyzing sales organization effectiveness. Sales organization is responsible for selling and obtaining maximum profits. Optimum profits through least investments is their primary objective. Market share analysis is dependent on a particular period and the sales  during that period ,target company's sales and total market sales.

8 0
3 years ago
The straight-line depreciation method and the double-declining-balance depreciation method: A. Produce the same depreciation exp
Artemon [7]

The relationship between the straight-line and double-declining-balance method is that they D. Produce the same total depreciation over an asset's useful life.

<h3>How are the straight-line and double-declining-balance methods related?</h3>

While they do not produce the same depreciation every year, they will eventually depreciate an asset in the same way overtime.

What this means is that both methods will depreciate an asset by the same amount at the end of the asset's life. However, the depreciation amounts will vary by method on an annual basis.

In conclusion, option D is correct.

Find out more on depreciation methods at brainly.com/question/26948130.

6 0
2 years ago
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Alexxandr [17]

Answer:

You might want to tape "evolve" in this case the answer is the GATT

Explanation:

The World Trade Organization's predecessor, the General Agreement on Tariffs and Trade (GATT), was established after World War II in the wake of other new multilateral institutions dedicated to international economic cooperation – notably the Bretton Woods institutions known as the World Bank and the International Monetary Fund. A comparable international institution for trade, named the International Trade Organization was successfully negotiated.

The World Trade Organization (WTO) is an intergovernmental organization which regulates international trade. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. The WTO deals with regulation of trade between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements, which is signed by representatives of member governments and ratified by their parliaments.

3 0
3 years ago
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