Answer:
a) Y = 500
b) Wages: 2.5
Rental price: 2.5
c) labor Share of output: 0.370511713 = 37.05%
Explanation:
if K = 100 and L = 100
Y = 500
wages: marginal product of labor = value of an extra unit of labor
dY/dL (slope of the income function considering K constant while L variable)
With K = 100 and L = 100
Y' = 2.5
rental: marginal product of land = value of an extra unit of land
dY/dK (slope of the income function considering K variable while L constant)
L = 100 K = 100
Y' = 2.5
c) we use logarithmic properties:
50 was the land while 10 the labor
2.698970004 = 1.698970004 + 1
share of output to labor: 1/2.698970004 = 0.370511713
Financial records, A company’s competitors. Got it from quizlet!
Answer:
The correct answer is d. lowering price.
Explanation:
Sustainable competitive advantages are company those abilities and traits that are difficult to duplicate or exceed; and provide a superior or favorable long term position over competitors.
Lowering price is good stratergy to compete with new competitors comming in the industry. However in long run you have to focus on building processes that generate value for customers and both internal and external stake holders.
Answer:
<em>A mission statement is usually disseminated internally. While the company vision is future-focused, the mission combines forward thinking with present goals.</em>
Explanation:
1. Life is Good: To spread the power of optimism
2. Patagonia: Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.
3. American Express: We work hard every day to make American Express the world's most respected service brand.
4. Warby Parker: To offer designer eye wear at a revolutionary price, while leading the way for socially-conscious businesses.
Answer: $4,375
Explanation:
Annual Depreciation at end of year 5 is the same as every year as this is classical straight line depreciation.
= (Cost - Salvage value) / Useful life
= (40,000 - 5,000) / 8
= $4,375
