<span>In a purely competitive labor market, a profit-maximizing firm will hire labor up to the point where the marginal revenue product of labor equals the revenue product equals the cost of hiring an extra worker. In purely competitive market there are a lot of companies producing a standardized product. The prices of the product are determined by the consumer demand of the product and the supplier is not allowed to decide the price. </span>
Answer:
The cost of the 28 units sold is $548
Explanation:
In the given question,
On March 1 it purchase 12 units for $15 = 12 units × $15 = $180
On March 2 it purchase 12 units for $24 = 12 units × $24 = $288
On March 6 it purchase 7 units for $20 = 7 units × $20 = $140
And, on march it sold 28 units for $63 each
The 28 units could be taken from
12 × $15 = $180
12 × $24 = $288
And remaining 4 units × $20 = $80
So, the total cost of units sold = $180 +$288 +$80 = $548
To identify the advantages and disadvantages of packaging materials it is necessary to analyze the purpose, durability and protection of the product.
<h3 /><h3>What is the best packaging for a product?</h3>
It will be one that protects the characteristics of the product, is durable and sustainable. Leaves, for example, are safe biodegradable materials for packaging some foods, but they still need more technological development for scale production.
Another example is that vegetable fibers are also sustainable materials but are also being used experimentally in the sustainability awareness phase.
Therefore, the ideal packaging will be one that protects the necessary characteristics of the product and is ecologically sustainable for the protection of the environment.
Find out more about sustainability here:
brainly.com/question/25350238
Answer:
It will be between $1.00 and $ 1,20
Explanation:
Solution
Given:
From the given question, the price of a flax seed in west Virginia is presently at $1.00
From the law of one price states that since the price of a pound of flax seed is $1.20 in Kentucky,
Then,
The price of a flax seed pound will be between 1.20 and 1.00
Therefore, the price of the flax seed in Kentucky as compared to that of west Virginia will be placed in between prices of $1.20 and $1.00 after the supply by sellers in both market has been adjusted or raised.
Answer: Material Efficiency
Explanation: Material Efficiency is concerned with the use of physical processes that uses less material to produce higher outputs using recycled materials thereby reducing wastes.
Material efficiency uses the strategy of re-manufacturing and modular manufacturing, reuse and recycling of product components, using less material in product designs and redesigning manufacturing processes to use less energy, less water and less raw materials.
Material efficiency help not only in reducing manufacturing costs but also in reducing wastes and associated costs.
