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mr_godi [17]
4 years ago
15

Explain how a firm decides how many workers to hire. If the wage was constant at $25 per day, howmany workers should be hired? E

xplain how you got your answer.
Business
1 answer:
bearhunter [10]4 years ago
8 0

Answer:

This is based on the micro-economics concept,

MRP=MRC

The principle states that in order to maximize profit a firm should employ the quantity of a resource at which its marginal revenue product (MRP) is equal to its marginal resource cost (MRC)

MRC is the wage rate in pure competition and in this case.

As each worker will bring in at least as much revenue as their wages cost. If the wage was $25, you would hire 4 workers. The MRC is 25 and MRP is 30, thus if a 5th worker would be hired, the amount paid would exceed the MRC, or what is coming in, thus you cannot increase to a fifth worker.

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Sacrificing your own self interests for the good of the overall goal is ______.
Firlakuza [10]
That is intiative, its basically commiting yourself to doing something and putting everything else behind you
8 0
3 years ago
Read 2 more answers
Bill Builder entered into a contract with Carl's Carpets to supply him with the carpeting he needed to complete the renovation o
pshichka [43]

Answer:

consequential damages

Explanation:

According to my research on different types of law suits, I can say that based on the information provided within the question Bill can recover the 900 he lost from Carl as consequential damages. These are damages have happened because of one party's failure to meet a certain deadline or contractual obligation and can be proven in court. Therefore since Bill can prove that he lost the 900 because of Carl's negligence he will most likely win that case.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0
3 years ago
Suppose HP’s minorities work at a multicultural plant, which provides a comfortable learning environment before they are assigne
artcher [175]

Answer:b. Resource acquisition

Explanation:Resource Acquisition focuses on defining the needs for the project, and obtaining the right resources for the team and other resources and tools available to manage the effort.

Acquiring resources is the process of securing team members, equipment, materials or other resources required to deliver the project. The key input to acquiring resources is the project plan. The Acquire Resources process is repeated at several stages throughout the project as the need arises.

4 0
3 years ago
If competitors can copy or match the products and services the firm offers, it will be difficult to develop a sustainable compet
balu736 [363]

Answer:

resources that are valuable, rare, costly to imitate, and non-substitutable

Explanation:

If competitors can copy or match the products and services the firm offers, it will be difficult to develop a sustainable competitive advantage through product excellence. A firm can, however, develop an advantage through product excellence with resources that are valuable, rare, costly to imitate, and non-substitutable

Apart from product excellence, Intangible assets that have no physical presence like Brand reputation, trademarks and intellectual property are all intangible assets unlike physical resources, cannot buy from the market by other competitors. They are developed within a company and constitute the source of sustainable competitive advantage.  

In particular, the resources that generate competitive advantage are those that possess the VRIO characteristics,which implies that they are  

Valuable, hence there will be no competitive disadvantage

Rare, hence there will be no competitive parity

Imitate, - are costly and difficult to imitate hence they cannot be copied

Organised to Capture Value - which means they are non-substitutable.

4 0
3 years ago
A landowner in Texas is offered $200,000 for the exploration rights to oil on her land, along with a 25% royalty on the future p
Shtirlitz [24]

Answer:

b. She should develop herself as the EMV of developing is $1.125 million, which is higher than the EMV of selling.

Explanation:

The probability of discovered oil = 0.25 (25%)

Selling the exploration right= Selling Price + Probability of discovered oil × Royalty% × Future Profit

= $200,000 + 0.25 × 0.25 × $7,500,000 = $668,750

Developing = Probability of finding the oil × Future Profits - Cost of Well

= 0.25 × $7,500,000 - $750,000 = $1,125,000

= $1.125 million

Therefore the EMV for selling the exploration rights is less than the developing, the landowner will develop the site by his own.

4 0
3 years ago
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