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Mama L [17]
3 years ago
10

Explain how a firm's production function is related to its marginal product of labor, how a firm's marginal product of labor is

related to the value of its marginal product, and how a firm's value of marginal product is related to its demand for labor
Business
1 answer:
Ghella [55]3 years ago
7 0

The price paid to each factor adjusts to balance the supply and demand for that factor. Because factor demand reflects the value of the marginal product of that factor, in equilibrium, each factor is compensated according to its marginal contribution to the production of goods and services.

<h3><u>Explanation:</u></h3>

The incremental profit that is being earned for an additional single unit by subtracting the price of the product and all the variable cost that is associated with that product is the marginal contribution. It is the earnings that is obtained in total for paying all fixed expense and also for the profit generation.

The price that is spent for the every factor in order to adjust balancing the supply and demand of that particular factor. This is because of the reason that, the value of the marginal product of any factor is controlled by the demand factor. Thus in an equilibrium state there will be a compensation of each factor based on the marginal contribution to the production of goods and services.

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What factors are encouraging financial institutions to offer overlapping financial services such as banking, investment banking,
Anna11 [10]

Answer:

B. I and II only

Explanation:

I. Regulatory changes allowing institutions to offer more services II. Technological improvements reducing the cost of providing financial services

7 0
3 years ago
Canyon Trails is studying whether to outsource its Human Resources (H/R) activities. Salaried professionals who earn $390,000 wo
Doss [256]

Answer:

Benefit:                                  10,000

Explanation:

Salaries terminated:             390,000

decrease in misc overhead   30,000

outsourcing tariff:                (410,000)

Benefit:                                  10,000

The most questions most important issue is how to account the 120,000 assistant and the fixed cost that will be allocate to other department.

The truth is, this are not relevant cost.

As the company would hire this assistant in the near future if the H/R is not outsource as the company won't keep them if they aren't useful.

Also the allocate cost are cost from other operations not related to human resources. So ust be disregard from the calcualtion.

We should consider only the explicit decrease, which are the salaries and fewer tracable overhead.

4 0
3 years ago
Suppose you own a stock that you believe will produce a return of 13% in a good economy and 4% in a poor economy. Given the prob
agasfer [191]

Answer:

The correct answer is letter "B": Expected return.

Explanation:

Expected return is the return an investor expects from an investment given the investment's historical return or probable rates of return under different scenarios. To determine expected returns based on historical data, an investor simply calculates an average of the investment's historical return percentages and then, uses that average as the expected return for the next investment period.

In the example, the expected return would be:

<em>Expected return </em><em>= (return in a good economy + return in a poor economy)/2</em>

<em>Expected return </em><em>= (13% + 4%)/2</em>

<em>Expected return </em><em>= </em><em>8,5%</em>

7 0
3 years ago
Why labor and management might be at odds and why?
NikAS [45]
The most frequently employed technique of workers was the STRIKE. Withholding labor from management would, in theory, force the company to suffer great enough financial losses that they would agree to worker terms. Strikes have been known in America since the colonial age, but their numbers grew larger in the Gilded Age.
7 0
3 years ago
Read 2 more answers
An economist doing an analysis on the market for original paintings finds that a 7% increase in price will lead to an increase i
pshichka [43]

Answer:

The price elasticity of supply is 1.42.

Explanation:

The price elasticity of supply is the measure of the degree of responsiveness of quantity supplied to a change in price. It is the ratio of proportionate change in quantity supplied and proportionate change in price.

An economist doing an analysis on the market for original paintings finds that a 7% increase in price will lead to an increase in the quantity supplied by 10%.

Price elasticity of supply

= \frac{\% \Delta Qs}{\% \Delta P}

= \frac{10}{7}

= 1.42

3 0
3 years ago
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