Assume that skilled labor costs twice as much as unskilled labor, a profit maximizing firm will hire until the marginal product of unskilled labor is half that of skilled labor.
A profit maximizing firm is a firm that tries to create products that are of good quality at the barest or smallest cost.
The marginal product falls after an additional amount of the resource has been added. It is the extra amount that is gained due to the addition of an extra unit.
Due to the fact that both the skilled and unskilled would decrease eventually, the company would have to hire both at equal marginal products.
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Answer:
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A thesis statement should be clearly stated and narrowly focused. False
Answer:
The correct option is option C
$18,600 $3,100 $3,100 $3,100 $3,100 $3,100 $3,100
Explanation:
Year0- $18600
Year1 - $3100
Year2 - $3100
Year3. $3100
Year5. $3100
Year6. $3100
That is the timeline of the loan from the lender's perspective.
