Some of the characteristics are:
1. Labour is original and indispensable factor of production
2. Labour is an active factor of production
3. Labour is perishable than any other commodity 4. Labour cannot be separated from the labourer and Others.
Characteristics
1. Labour is original and indispensable factor of production:
Labour is original and indispensable factor of production without it the work of production is not possible.
2. Labour is an active factor of production:
Land and capital are considered as the passive factor of production, because they alone cannot start the production process. Production from land and capital starts only when a man makes efforts. Production begins with the active participation of man
3. Labour is perishable than any other commodity:
Labour is more perishable than other factors of production. It means Labour cannot be stored. The Labour of an unemployed worker is lost forever for that day when he does not work.
4. Labour cannot be separated from the labourer:
Land and capital can be separated from their owner, but Labour cannot be separated from a labourer. Labour and labourer are indispensable for each other. For example—It is not possible to bring the ability of a teacher to teach in the school, leaving the teacher at home. The labour of a teacher can work only if he himself is present in the class.
Explanation:
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Answer and Explanation:
The Preparation of cash flows from operating activities section using the direct method is shown below:-
Splish Brothers Inc.
Statement of Cash Flows using Direct method
For the Year ended 2020
Particulars Amount
Cash Flows from operating activities:
Cash collection from:-
Customers
($49,300 + $189,500) $238,800
Dividend Revenue $17,900 $256,700
Less: Cash payments for
Interest ($10,400)
Income Taxes (15,000)
Salaries and wages (57,700)
Operating Expenses ($28,400)
Cash payment to
Suppliers for Merchandise ($115,400) $226,900
Net Cash provided by operating activities $29,800
Since the cash payment reflects the cash outflow so this items would be represented in a negative sign and the cash collections reflects the cash inflow so this item would be represented in a positive sign
Answer:
$370.69
Explanation:
Given the following :
Capacity (n) = 430
Cost incurred by airline per flight = $4000 + $60 per passengers
If ticket price = T ; (430 - 0.58T) are expected to book.
Determine the ticket price, T, that will maximize the airline's profit.
Profit = Revenue earned - cost incurred
Revenue earned = capacity * price = nT
Cost incurred = $4000 + $60n
Profit = nT - (4000 + 60n)
If ticket price = T ; (430 - 0.58T) are expected to book. Then n = (430 - 0.58T)
Profit = (430 - 0.58T)T - ($4000 + 60(430 - 0.58T))
Profit = 430T - 0.58T^2 - ($4000 + 25800 - 34.8)
Profit = 430T - 0.58T^2 - 4000 - 25800 + 34.8
Profit (P) = - 0.58T^2 + 430T −29834.8
Taking the first derivative of P
P' = 2(-0.58T) + 430
P' = - 1.16T + 430
Hence solve for price (T) when P' = 0
0 = - 1.16T + 430
1.16T = 430
T = 430 / 1.16
T = 370.68965
Price = $370.69
Answer:
B). $12
Explanation:
As per the given data, the AFC(Average Fixed Cost) for employing 25 factors of labor and 16 factors of capital would be $12.
We are given the production function,
Q = 
where,
K = allotted input in short-term
Rental rate of each unit/factor(r) = $15
Wage per factor(w) = $5
As we know, the two inputs are labor, as well as, capital;
To find AFC, we need TC;
so,
TC = (Fixed cost + Variable cost)
TC = (240(15 * 16) + 125(25 * 5) = 365
Thus,
AFC = $ 12
