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Vera_Pavlovna [14]
3 years ago
9

A farmer who has fixed amounts of land and capital finds that total product is 24 for the first worker hired; 32 when two worker

s are hired; 37 when three are hired; and 40 when four are hired. The farmer's product sells for $3 per unit and the wage rate is $13 per worker. The marginal revenue product of the second worker is
Business
1 answer:
adelina 88 [10]3 years ago
6 0

The marginal revenue product of second worker is <u>$24 </u>.

<u>Explanation</u>:

The marginal revenue product measures the amount by which the addition of one more worker increases a firm's total revenue.

<em><u>Given</u></em>:  

Total product produced by first worker- 24

Total product produced by two workers- 32

Total product produced by three workers- 37

Total product produced by four workers- 40

Cost of one product- $3

Wage of a worker- $13

Marginal revenue product of second worker=<u> $24 </u>

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Target is American

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3 years ago
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Eagle Company reported Salaries and Wages Payable of $1,500 at the beginning of the year and $5,000 at the end of the year. The
ivanzaharov [21]

<u>Given:</u>

Wages payable at the beginning of the year = $1500

Wages payable at the end of the year = $5000

Salaries and wages expense as per the income statement = $112400

<u>To find:</u>

Cash paid for salaries and wages

<u>Solution:</u>

The calculation of the cash paid for salaries and wages is as follows,

Wages payable at the end of the year-Wages payable at the beginning of the year = \$5000-\$1500=\$3500

Cash paid = \$112400-\$3500=\$1,08,900

Therefore, the cash paid for salaries and wages during the year is $1,08,900.

Wages and salaries are paid by the organization or management to the workers or the employees in return for the work done by them for the company.

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4 years ago
In terms of the product life cycle, the soft-drink market is basically a mature market. There are still many profitable small re
garik1379 [7]

Answer:

a. Product differentiation

Explanation:

Product differentiation -

It is the marketing strategy , which tries to differentiate their goods and services from rest of the competition , is known as the product differentiation .

This strategy involves highlighting the different and unique features which they offer .

Hence , from the question , the strategy required by the small bottlers to use is the Product differentiation , to survive in the upcoming competition market .

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3 years ago
The new bridge would require 14 piers to support it and it was known that each time a pier is sunk into the harbor it would take
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Answer:

$21,000

Explanation:

The new bridge would take 30 man hours of labor at $50 per hour, in activity based costing, this means that ,

30*50 = 1500.

Now, it will require 14 piers to support it each time a pier is sunk into the harbor,hence the final calculation will be:

30*50*14 = 21000.

Hope this Helps.

Goodluck.

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B. The total cost of commuting from any given distance to work will increase because the indirect cost of the commute will rise.

C. The total cost of commuting from any given distance to work will reduce because the direct cost of the train ticket will fall.

D. The total cost of commuting from any given distance to work will increase because the direct cost of the train ticket will rise

Answer:

A. The total cost of commuting from any given distance to work will reduce because the indirect cost of the commute will fall

Explanation:

Technological advances in wireless communication technology, would reduce the indirect cost of long commutes from any given distance which would cause a reduction in the total cost of commuting, as a function of the effect of geographic area of cities. Direct cost of train ticket would not be affected as the efficiency of the services that train and car riders would offer would increase, as well as the satisfaction they would also enjoy from such technological advances.

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