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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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<em>Equivalent units are used to apportion cost between completed units and work in progress. They represent notional whole units which represent incomplete work. </em>

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Equivalent units (EU)

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Opening inventory     25,000     0% × 25,000     =   0

Fully worked            110,000    100% × 110,000 =   110,000

Closing inventory    30,000      100%× 30,000 =   <u>30,000</u>

Total equivalent unit of material                           <u>140,000</u>

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<em>Note that for the opening inventory already 100% material work has been done the preceding period , so there wont be any work left to be done in respect of materials.</em>

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