All categories

3 years ago

Explain how firms decide how much labor to hire to produce a certain level of output

1 answer:

7 0

The firms focus on improving marginal returns. Apart from this, they focus on specialization which increases the output. The amount of labor the firm plans to hire depends on the level of output it requires. The firm keeps adding new workers until output reaches its crest or peak.

You might be interested in

Illinois law requires that a pre-printed offer to purchase that is intended to become a binding contract have which of the follo

DerKrebs [107]

Answer:

Option A-Real Estate Sales Contract

Explanation:

Illinois laws requires that a pre-printed offer to purchase that is intended to become a binding contract should have under heading Real Estate Sales Contract

3 0

3 years ago

When a recession is caused by a negative AD shock, we would expect inflation to _______________ and unemployment to ____________

Ilya [14]

Answer:

The answer is fall and rise

Explanation:

Hope this helps:)...if not then sorry for wasting your time and may God bless you:)

7 0

2 years ago

Read 2 more answers

One day, Barry the Barber, Inc., collects $500 for haircuts. Over this day, his equipment depreciates in value by $80. Of the re

zheka24 [161]

Answer:

Gross Domestic Product

= $500

<em>GDP is the final value of goods and services. The haircut is valued at $500 so is GDP. </em>

Net National Product:

= GDP - Depreciation

= 500 - 80

= $420

National Income

= $420

<em>This is the income that a resident of the country earns and $420 is what Barry earned in net income.</em>

Personal Income

= National income - Retained earnings

= 420 - 120 - 50

= $250

Disposable Personal Income (Dollars)

= Personal income - income taxes

= 250 - 90

= $160

4 0

3 years ago

What is the best study group?

Tom [10]

Answer:

Study group are the institutions which provide students with the lectures and note. They help students for preparing assignments and hep them with their presentations. There can also be various study groups which help students with thesis writing.

Explanation:

The main purpose of study groups is to bring all the intellectual at one platform. There are multi talented youth who has different skills. These students are united at one platform and their intellectual is exchanged and enhanced by healthy discussions.

5 0

3 years ago

In the month of June, a department had 10,000 units in beginning work in process that were 70% complete. During June, 40,000 uni

butalik [34]

Answer:

Cost per material= $9

Cost per conversion = $8.51 unit

Explanation:

We would assume the company uses weighted average method of valuation.

Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked.

Cost per Equivalent unit= Total cost / Equivalent unit

Completed units = transferred in + opening inventory -closing inventory

= 40,000 + 10,000 - 5,000 =45,000 units

Equivalent unit of material = (100%× 45,000) + (100%× 5000)= 50,000

Cost per material = $450,000/50,000= $9

Equivalent unit of Conversion cost =(100%× 45,000) + (40%× 5000)= 47,000

Cost per conversion cost = $400,000/ 47,000 units

= $8.51 unit

Cost per material= $9

Cost per conversion = $8.51 unit

6 0

3 years ago