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Mama L [17]
4 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]4 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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Which form of bankruptcy allows a debtor with a regular income to extinguish his or her debts from future earnings or other prop
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"Chapter 13" form of bankruptcy allows a debtor with a regular income to extinguish his or her debts from future earnings or other property over a period of time.

<h3>What is chapter 13 form?</h3>

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The benefits of filling chapter 13 form:

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5 0
2 years ago
Which term refers to selling commodities of similar grade and quality to two or more different buyers at different prices, withi
iren2701 [21]

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Price discrimination

Explanation:

Price discrimination is a method used by various firms; it is a selling system that charges clients different costs for similar items. They charge clients different prices and the prices depend on whatever the customer can pay. In unmodified price discrimination, the dealer charges every client the most extreme value the individual customer can pay. Under the Robinson-Patman Act of 1936, it is illegal to sell the same quality of products at different prices.

8 0
4 years ago
Consider a household that possesses ​$200 comma 000 worth of valuables such as jewelry. This household faces a 0.02 probability
Mariulka [41]

Answer:

The household should not buy this policy

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E(U) $200,000 - $70,000 + $70,000 - $15,000

E(U) = $ $185,000^{0.5}

E(U) $430.11

8 0
3 years ago
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