Why do we study opportunity cost

Complete the following table by selecting the term that matches each definition on the left.

Elanso [62]

Answer:

The correct answers are the following:

1 - C

2 - B

3 - D

4 - A

Explanation:

1 - C: The market labor demand curve is represented graphically by the relationship between the wage rate and the quantity of labor firms are willing to hire in a market due to the fact that the firms are the ones who are looking for workers and therefore they demand it.

2 - B: The market labor supply curve is represented graphically by the relationship between the wage rate and the quantity of labor that the workers are willing to provide due to the fact that they are the one who put their work in the market in order to be used.

3 - D: The marginal product of labor represents the increase in the amount of output from an additional unit of labor that an additional worker puts in the firm.

4 - A: The value of the marginal product of labor comprehends the additional revenue the firm receives from selling the output produced from and additional unit of labor that an additional worker put in the firm.

8 0

3 years ago

What are the types of experiences, especially staffing-related ones, that an organization will be likely to have if it does not

lisov135 [29]

Answer and Explanation:

There are various types of experiences that in case when the organization does not engage in HR and staffing planning which are as follows

1. Employees in shortage capacity

2. In shortage of skills

3. Lacking of motivation skills

4. Inflexible working environment

5. Inadequate workforce, etc

These types of experiences the organization is facing if it is not engaged with the HR and the staffing planning

3 0

3 years ago

During March, the production department of a process operations system completed and transferred to finished goods 25,000 units

amid [387]

Answer:

140,000 units and 130,250 units

Explanation:

The computations are shown below:

For Material cost:

= Transferred units × percentage of completion + ending work in process inventory units × percentage of completion

= 110,000 units × 100% + 30,000 units × 100%

= 110,000 units + 30,000 units

= 140,000 units

For Conversion cost:

= Beginning work in progress units × remaining completion + Transferred units × percentage of completion + ending work in process inventory units × percentage of completion

= 25,000 units × 45% + 110,000 units × 100% + 30,000 units × 30%

= 11,250 units + 110,000 units + 9,000 units

= 130,250 units

The remaining percentage would be

= 100% - 55%

= 45%

4 0

3 years ago

In the following table, determine how each event affects the position of the long-run aggregate supply (LRAS) curve.

Soloha48 [4]

Answer:

Will increase the labor force and the productive ability of the economy, which will shift the LRAS curve to the right.
Will increase the price of oil and its subproducts (gas, plastic, etc.), which will shift the LRAS curve to the left.
Will increase the productivity of the labor force, which will shift the LRAS curve to the right.

5 0

3 years ago

Money provided by a third party to help students meet the costs of attending college. It can be provided by various agencies inc

artcher [175]

Answer:

Financial aid.

Explanation:

For American citizens, the dream is of going into higher education. but the tuition cost is very expensive as not everyone can offered such expensive fees for enrolling into a course. The different course has different fees. For supporting the people in their financials, many organizations like public, state, financial institutions help them.

So here in the given scenario, the financial aid is the best option fitted.

7 0

3 years ago