Answer: Option (d) is correct.
Explanation:
Correct option: For the 10th worker, the marginal revenue product is $120 per day.
If she hires 9 workers then the store can sell 200 pounds of produce per day
If she hires 10 workers then the store can sell 230 pounds of produce per day
Extra units produce from hiring 10th worker = 230 - 200 = 30 pounds of produce per day
Store earns = $4 for each pound
Therefore, the marginal revenue product for the 10th worker = selling price of each pound × Extra units produce from hiring 10th worker
= $4 × 30
=$120
Answer:
5575
Explanation:
The computation is shown below;
<u>Factor Elasticity Increase Effective Increase
</u>
A B A × B
Capital 0.3 10% 3.00%
Labor 0.7 5% 3.50%
Increase due to Productivity 5.00%
Total Increase in Output 11.50%
(3% + 3.5% + 5%)
Original Output 5000
Increase in Output (5000 × 11.5%) 575
Increase Output (5000 + 575) 5575
Answer:
C. Spencer will win because regardless of whether Glen was acting within the scope of his employment, Sally is liable for his negligence
Explanation:
Spencer will win the lawsuit and Sally is liable for negligence.
This is because, Sally was the person originally hired to do the roofing job.
She hired other workers to help her with the job, so she's liable to their actions and inactions.
Sally is operating under a working agreement (contract) and has already charged a fee of $10,000 so any punitive damages would be her responsibility.
Spencer was moving around and Glen threw some roofing shingles without any word of warning to people that might be in harm's way. So for Glenn's actions, Sally is liable for his negligence.
Answer: Increase; increase
Explanation:
Efficiency is so vital to business and manufacturing. The ability of a business to produce and curb minimal loss will give a boast on production and encourage manufacturers to do more, especially when they have the ability to produce in large quantity (by batches) and still get a good ratio for the number of goods manufactured. This is where machines has aided productivity, as they were introduced, productivity increased and they were minimal loss and time waste when producing. When technology allows for more of this effective machines, manufacturers will produce more and there would be a boast in investment.
