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lara31 [8.8K]
3 years ago
14

Riva crafts and sells hard cider as a part-time job. She can bottle and sell four cases in a week. She is considering hiring her

friend Atul to help her. Together, Riva and Atul can bottle and sell seven cases per week. What is Atul’s marginal product?
Business
1 answer:
Dovator [93]3 years ago
8 0

Answer:

3 cases

Explanation:

Marginal product refers to change in the total output when an additional input is employed. For example, output is 5 units when 2 laborers are employed. When another unit of input i.e 3rd laborer is employed, the output rises to 9 units. In this case marginal product of the 3rd unit of labor would be 9 - 5 i.e 4 units.

In the given case, before Atul is hired, the production was 4 cases per week. After his being hired, it rose to 7 cases per week. Thus Atul's marginal product in the given case would be 7 - 4 i.e 3 cases.

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3 years ago
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prisoha [69]

Answer;

Firms --> Market For Goods and Services --> Households

Explanation;

In product markets, business firms supply and sell goods and services while households demand and buy them.  Households supply and sell factors of production, such as labor, while business firms demand and buy them.

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3 years ago
Waterway has a standard of 2 hours of labor per unit, at $12 per hour. In producing 3800 units, Waterway used 7350 hours of labo
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Answer:

Direct labor time (efficiency) variance= $3,000 favorable

Explanation:

Giving the following information:

Standard= 2 hours of labor per unit, at $12 per hour.

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<u>To calculate the direct labor quantity variance, we need to use the following formula:</u>

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7 0
3 years ago
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Answer:

Letter a is correct. <u>Situational factors.</u>

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