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3 years ago

Explain why the marginal rate of technical substitution is likely to diminish as more and more labor is substituted for capital.

1 answer:

8 0

Answer: This is because the marginal rate of technical substitution is the ratio of the marginal product of labour to that of capital and for the output to be constant opportunity cost comes in, one input has to be reduced to increase the other input.

Explanation:

The marginal rate of technical substitution (MRTS) shows the amount by which the quantity of an input can be lowered when an extra unit of another input is utilized on order for the output to remain constant.

The marginal rate of technical substitution is likely to reduce as more capital is substituted for labor because the marginal rate of technical substitution is the ratio of the marginal product of labour to that of capital and for the output to be constant opportunity cost comes in, one input has to be reduced to increase the other input.

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Robert is a successful 51-year-old, lives in the suburbs, and enjoys reading Jet and Ebony magazines. He drives out of his way t

myrzilka [38]

Answer:

Boomer blacks

Explanation:

Daniel Yankelovich and Radio One carried out a segmentation study titled The Black America Today study about African American consumers. This study was carried out in order to determine a way to better reach consumers, since general labels like Latino communities or African American communities are too broad for marketing purposes. They segmented African Americans into:

Connected Black Teens
Digital Networkers
Black Onliners
Stretched Black Straddlers
New Middle Class
Family Struggles
Black is Better
Sick and Stressed
Faith Fulfills
Broadcast Blacks
Boomer Blacks: they represented the oldest group studied by Yankelovich, with an average age of 52. They believe in black roles models, and are very tech savvy. They also belong to upper middle class or upper class.

4 0

3 years ago

Overton Company has gathered the following information. Units in beginning work in process 21,400 Units started into production

Sindrei [870]

Answer:

Equivalent Units of Production for Material = 226,700

Euqivalent Units of Production for Conversion = 216,700

Explanation:

The question is to Compute equivalent units of production for máterials and for conversion costs.

First, it should be noted that the Weighted Average Method will be employed as follows

Description Units %Mate. Equiv. Mat. % Conven Equiv. Conv

Completed & Transf. 201,700 100% 201,700 100% 201,700

Ending Work in Prog. 25,000 100% 25,000 60% 15,000

Equivalent. Produc. 226,700 216,700

Note: To determine the Equivalent material of 201,700 above is as follows

Opening Work in Progress + Units Started into Production - Ending Work in Progress

= 21,400+ 205,300 - 25,000 = 201,700 units

4 0

3 years ago

__________ is the term used to describe the situation when retailers use some combination of stores, catalogs, and the internet

marta [7]

Answer:

"Multichannel retailing" is the term used to describe the situation when retailers use some combination of stores, catalogs, and the internet to sell merchandise.

Explanation:

Multichannel retailing is a concept which is used in marketing that is continually advancing, in which an organization gives various approaches to clients to buy products and services. Basically most organizations nowadays are required to give clients different types of approaches to shop as clients need accommodation, and they need things done promptly.

6 0

3 years ago

Firm A is a new producer in the market for good X, which is characterized by linear demand and supply curves. Initially, to attr

Dafna1 [17]

Answer:

E. He is not accounting for the new consumers who will benefit from being able to consume the product.

Explanation:

With the increase in price of product, Demand equals Supply i.e., no shortage exists in the market. Thus, the equilibrium level is achieved at price of $ 10. Further, The most important advantage of increasing the price in the given question is that shortage which exists earlier no longer remains now which will benefit all the consumers including some new consumers as they will able to get the sufficient number of quantities of product for the consumption now. Financial Head of Firm is ignoring the new consumers who will benefit from able to consume the product.

Therefore, He is not accounting for the new consumers who will benefit from able to consume the product.

3 0

3 years ago

A company provided the following direct materials cost information. Compute the total direct materials cost variance. Standard c

lord [1]

Answer:

C. $78,250 Unfavorable.

Explanation:

We know,

Material cost variance = (Standard quantity × Standard price) - (Actual Quantity × Actual price)

Given,

Standard quantity = 405,000 units

Standard price = $2.00 unit

Actual Quantity = 403,750 units

Actual price = $2.20 unit

Putting the values into the formula, we can get

Material cost variance = (Standard quantity × Standard price) - (Actual Quantity × Actual price)

Material cost variance = (405,000 × $2.00) - (403,750 × $2.20)

Material cost variance = $810,000 - $888,250

Material cost variance = -78,250

Material cost variance = 78,250 (Unfavorable)

Therefore, C is the answer.

4 0

3 years ago