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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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Test the following sentences to see if headwords and verbs agree:
Maru [420]

Answer:

a). The statement on the income tax form about the deduction for children and other dependents was simply unreadable.

b). The type of career that many graduates are hoping to pursue pay high salaries and provide long vacations.

c). Apparently, the use of robots in factories has been responsible for a great deal of worker dissatisfaction.

d). The problems associated with government deregulation have been responsible for the economic plight of several major airlines in recent years.

e). The impact of computers on our lives is comparable to the impact of the industrial revolution.

f). The amount of money and time I spend on computer games <u>is</u> more than I can afford.

Explanation:

Subject-verb agreement is described as the grammatical rule according to which the subject, as well as, the verb must agree with one another in number. As per the rules, if the subject(noun or noun phrase) is singular, it will take a singular verb while if the subject is plural(noun or noun phrase), it will carry a plural verb.

According to this rule, <u>the first and third sentence fails to follow this agreement</u>. The first sentence inadequately carries a plural verb 'were' with the singular noun ('The statement') and similarly, the third sentence wrongly employs plural verb 'have' with the singular noun 'the use.' The other sentences are grammatically appropriate as the verbs and noun phrases agree in number.

3 0
2 years ago
John Maynard Keynes believed that wages may be inflexible in the downward direction. Consequently, an economy Question 3 options
Nuetrik [128]

Answer:

An economy could get stuck in a recessionary gap

Explanation:

Keynes believed that wages may be inflexible in the downward direction and which would consequently cause an economy to get stuck in the recessionary gap. The recessionary gap happens when a country's real GDP is lower than it's gross domestic product at a state of full employment. It shows the difference between the actual and potential production in an economy. But with the actual being smaller or lower than the potential production.

3 0
3 years ago
Hours of labor or number of workers are common ways of measuring a company's _________?
vovangra [49]

Answer:

productivity

Explanation:

to measure a company's productivity hours of labor or number of workers are taken into consideration. means efficient usage of labor

4 0
3 years ago
A company has three product lines, one of which reflects the following results: Sales $235000 Variable expenses 135000 Contribut
Zepler [3.9K]

Answer:

If management decides to eliminate this product line, the company’s net income will reduce by $22,000

Explanation:

<em>A product should be shut down if doing so would make the savings in fixed costs associated with the product to exceed the lost contribution. Other wise , the product should remain.</em>

<em>In a shut down decision , the following relevant cash flows should be considered:</em>

  1. <em>Lost contribution from the product to be shut down</em>
  2. <em>Savings in fixed directly attributable to the product under consideration.</em>

                                                                                                           $                                                                                            

Lost contribution from shut down                                        (100,000)

Savings in fixed cost (60% × 130,000)                                 <u>  78,000</u>

Net loss from shut down                                                      <u>  (22,000)</u>

Net loss from shut down = $(22,000)

If management decides to eliminate this product line, the company’s net income will reduce by $22,000

                     

3 0
3 years ago
Daleview has a cable television service provider. Non-subscribers are not permitted a ’free-ride.’ This means that the service p
Zigmanuir [339]

Answer:

The correct answer is letter "C": bans viewing by non-subscribers.

Explanation:

In economics, the free-rider problem arises when individuals refuse to pay their fair share or pay less for something others are paying. This situation occurs when individuals can consume a given resource without limits and when there is regulation over the resource consumption.

Thus, <em>Daleview is avoiding the free-rider problem in its TV cable service by setting bans to non-subscribers accounts.</em>

7 0
2 years ago
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