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d1i1m1o1n [39]
3 years ago
12

A change in the relative price of one good versus another will cause a change in marginal product and the allocation of labor re

sources. When the price of good A increases relative to the price of good B and labor is mobile, the equilibrium real wage in industry A will:
Business
1 answer:
kakasveta [241]3 years ago
4 0

Answer:

The correct answer is: increase relative to Industry B.

Explanation:

The marginal revenue product measures the conribution of each additional unit of input employed in the production process. It is calculated as the product of price of product and marginal product of input.

The profit maximizing level of wage is when the marginal revenue product of labor is equal to wages.

Suppose there are two goods, A and B respectively.

When the price of good A increases relative to good B, the marginal revenue product of labor employed in production of good B will increase as well.

This will cause the wage rate of those workers to increase in comparison to workers in industry B.

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an economic system blending elements of market economies with elements of planned economies, free markets with state interventionism, or private enterprise with public enterprise.

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Why is white-collar employment more significant in a postindustrial society than in a industrial society?
iren2701 [21]

Answer:

Explanation:

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3 years ago
A practitioner is engaged to prepare a client's federal income tax return for 20X1 and 20X2. The practitioner files the 20X1 ret
dimaraw [331]

Question Completion with Options:

A.) Notes the practitioner took when meeting with the client about the 20X1 and 20X2 tax returns.

B.) The engagement letter executed by the client for preparation of the 20X2 federal income tax return.

C.) An appraisal the practitioner prepared in connection with the 20X1 federal income tax return.

D.) Schedules the practitioner prepared, which the client needs to file in its 20X2 federal income tax return.

Answer:

Under IRS Circular No. 230, the records the practitioner must return to the client are:

D.) Schedules the practitioner prepared, which the client needs to file in its 20X2 federal income tax return.

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