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Nutka1998 [239]
3 years ago
7

The demand for labor depends primarily on the additional output produced as a result of hiring an additional worker and A. the a

dditional revenue received from selling the output produced as a result of hiring an additional worker. B. the number of workers willing to produce the additional output. C. the payment made to the worker for producing the additional output. D. the elasticity of demand for the output produced by the worker.
Business
1 answer:
7nadin3 [17]3 years ago
7 0

Answer:

The correct answer is option A.

Explanation:

The demand for labor is said to be a derived demand as it is derived from the demand for products being produced using labor. It depends on the marginal productivity of labor and marginal revenue product of labor.

In other words, we can say that the demand for labor depends on the increase in the output produced due to hiring an additional unit of labor and the revenue earned from the sale of that additional output.

The demand curve of a firm is also called its marginal revenue product of labor curve. The marginal revenue product of labor is equal to the marginal product of labor times output price.

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Match each term with the best definition given blow. Note: Not all definitions will be used.
Virty [35]

Answer:

1. Allocation Base

Definition: A measure that causes or influences the incurrence of a cost.

2. Direct Labor Time

Definition: A source document that shows how a worker spent time each week.

3. Ticket Indirect Costs

Definition: Costs not easily traceable to producing a product, job or service.

4. Job Coat Shoot

Definition: A detailed record of costs incurred to complete a specific job.

5. Job Order Costing

Definition: An accounting system used by companies that offer customized or unique products or services.

6. Materials Requisition Form

Definition: A form that lists the quantity of direct materials to be used in a job.

7. Overapplied Overhead

Definition: The amount of actual overhead is less than the applied overhead.

8. Underapplied Overhead

Definition: The amount of actual overhead is greater than the applied overhead.

9. Predetermined Overhead

Definition: Estimated manufacturing overhead divided by estimated cost driver.

10. Rate Process Costing

Definition: An accounting system used by companies to make standardized or homogeneous products or services.

3 0
2 years ago
Barriers to trade reduce the amount of output that can be supplied by foreign companies and, as a result, cause prices in the ma
oksano4ka [1.4K]

Barriers to trade reduce the amount of output that can be supplied by foreign companies and, as a result, cause prices in the market to be higher than they would otherwise be. This results in consumers buying less

<h3>What are barriers to trade?</h3>

Barriers to trade refers as certain hurdles which restrict an individual or organisation to practice trade activity effectively. These barriers can be regulatory barriers, physical barriers and so on.

These trade barriers are launched to support small-scale business and introducing jobs in the industries to prevent unemployment.

These trade barriers results in high prices in the market due to reduce amount output supplied by foreign companies. This will result in less buying behaviour by consumer.

Learn more about barriers to trade, here:

brainly.com/question/19109348

#SPJ1

7 0
1 year ago
What is one force facing U.S businesses today ?
Rashid [163]
Employee healthcare , hiring employee increeccing profit
5 0
2 years ago
Manufacturing reports the following data for the month: Purchases of raw materials, on account $55,250 Materials requisitions: D
xxMikexx [17]

Answer:

Journal 1

Direct Materials $49750 (Debit), Indirect Materials $3700,(Debit)  Direct labor $ 51000 (Debit), Indirect labor $ 2500 ( Debit), Manufacturing Overhead Account $106960 (Credit)

Journal 2

Manufacturing Overhead Account $106960 (Debit), Accounts Payable $106960

Explanation:

Journal 1

Materials and Labor (both direct and indirect) resource acquired shows an accumulation of resources needed for manufacturing process.

Therefore these resources are being recorded in their respective accounts and transferred to manufacturing overhead account.

Journal 2

Both materials and Labor acquired for manufacturing process are still owing.The journal represent a present obligations in settlement of the Manufacturing overhead (Both for Materials and Labor)

7 0
3 years ago
What could the owner of a movie theater expect as the possible result from an increase in movie ticket prices?
never [62]

Answer:

C

Explanation:

Fewer Movie goers will pay a hier price

8 0
3 years ago
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