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son4ous [18]
3 years ago
12

Labor Input Physical output 10 500 11 600 12 690 13 760 14 800 Refer to the above table, answer the following questions: A. If t

he price of the good produced is $7, what is the marginal revenue product (MRPL=11) of the 11th worker? B. Suppose the price of the good sold is $10 and the marginal factor cost of labor(MFC) is $700, how many units of labor will the firm hire?
Business
1 answer:
Mama L [17]3 years ago
7 0

Answer:

Explanation:

Labor Input       Physical output  

    10                              500

     11                               600

     12                              690

     13                              760

     14                               800

marginal output of 11 th labor = 600 - 500 = 100

price of each product = 7

marginal revenue product  of 11 th labor  7 x 100 = 700

B )

price of each of  the goods sold = 10

marginal factor cost of labour = 700

minimum no of goods to be sold to cover the labour cost

= 700 / 10 = 70

no of goods added due to  addition of 11 the labour = 100

no of goods added due to  addition of 12 the labour = 90

no of goods added due to  addition of 13 the labour = 70

so no of units of labor upto which  the firm will continue to hire

= 13 .  

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Spalkyn, a footwear company, allows its customers to shop online on its website or mobile app or at its physical stores. At the
Svetach [21]

Answer:

Ownership utility

Explanation:

Based on the information provided within the question it can be said that in this scenario Spalkyn most likely provides Ownership utility. This term refers to when a company allows for the orderly transfer of their goods or services to the buyer. Which is what Spalkyn does by giving their customers various different options when purchasing their goods, so that they can choose whichever option is easiest for them.

6 0
3 years ago
Hormel offers its food distributors a discount of 15 percent for payment within 10 days on orders of all Jiffy brand products. H
Feliz [49]

Hormel is giving its customers a cash discount.

<h3>What is cash discount?</h3>

Cash discount is the discount a seller give to a buyer by reducing the amount the buyer was supposed to pay because the buyer make his payment earlier.

Based on the given scenario Hormel offers is offering its  food distributors a discount of 15 percent if the distributor paid within the stipulated time or period of  10 days.

Inconclusion Hormel is giving its customers a cash discount.

Learn more about cash discount here:brainly.com/question/14883253

4 0
2 years ago
Commonwealth Delivery is the world's leading express-distribution company. In addition to the world's largest fleet of all cargo
krek1111 [17]

Answer:

Part a

Debit : Profit and loss $0

Debit : Cash $15,100

Debit : Accumulated depreciation $35,900

Credit : Cost $ 51,000

Part b

Debit : Profit and loss $2,200

Debit : Cash $15,100

Debit : Accumulated depreciation $35,900

Credit : Cost $ 51,000

Part c

Debit : Cash $15,100

Debit : Accumulated depreciation $35,900

Credit : Cost $ 51,000

Debit : Profit and loss $2,200

Explanation:

the journal entry for the disposal of the truck  are shown

4 0
2 years ago
David saves money from his teaching job to buy a new boat when he retires in 20 years. The boat will cost $30,000. He has $12,00
Aliun [14]

Answer:

Invest at a minimum of 7.5% annual simple interest

Explanation:

Given the goal of purchasing a boat that will cost $30,000 in 20 years, David needs to earn an interest computed below on his investment in the savings account.

Interest required = 30,000 - 12,000

= 18,000

Therefore the minimum rate of interest that will achieve this goal,

= Principal * rate * time = target amount

= 12,000 * R * 20 years = 18,000

= R = 18,000/(12,000*20) = 0.075 = 7.5%.

In addition, David could also continue his saving from his teaching job. This will reduce the minimum investment return required to achieve the goal.

6 0
2 years ago
A famous painting was sold in 1947 for ​$21 comma 320. In 1998 the painting was sold for ​$32.1 million. What rate of interest c
Elden [556K]

Answer: 15.42%

Explanation: PV ( present value) = $21,320

FV (Future Value) =$ 32.1 million.

Years(y) = 1947-1998 = 51years

r = (FV/PV)^(1/y) - 1

r = ( $32,100,000 / $21,320) ^ ( 1/51) - 1

r = ( $1505.6285)^ ( 0.0196) - 1

r = 1.15421 - 1

r = 0.0154205 X 100%

r = 15.42%

4 0
3 years ago
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