Answer:
Money serves several functions: a medium of exchange, a unit of account, a store of value, and a standard of deferred payment.
Answer:
L = 2084.75 W^-0.3
Explanation:
The computation of the demand of the labor is shown below:
At the optimum input
As we know that
MRTS = MPL ÷ MPK = w ÷ r
0.7(K ÷ L)^0.3 ÷ 0.3(L ÷ K)^0.7 = w ÷ 50
7K ÷ 3L = w ÷ 50
K = (3 ÷ 350)wL
Now apply the production function
Q = K^0.3L^0.7
500 = ((3 ÷ 350)wL)^0.3 L^0.7
500 = (3 ÷ 350)^0.3 × w^0.3 × L
L = 2084.75 × w^-0.3.
Answer:
B True
Explanation:
Global firms like McDonald, Pepsi, Unilever use global advertising by changing labels and translating the words to convey the same message and projecting the global brand image.
Consumer goods which are identical across the markets are particularly suitable for global advertising, since there is no separate development of advertising strategy in different countries, it results in significant cost savings and adds improvement in the bottom line of the financial statements.
Answer:
It is more profitable to continue processing by $5.2 per desk.
Explanation:
Giving the following information:
An unfinished desk is produced for $36.45 and sold for $64.35.
A finished desk can be sold for $76.00.
The additional processing cost to complete the finished desk is $6.45.
<u>We need to determine the effect on the income for further processing the desk.</u>
Contribution margin per unfinished desk= 64.35 - 36.45= $27.9
Contribution margin per finished desk= 76 - 36.45 - 6.45= $33.1
It is more profitable to continue processing.