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Answer: $1000
Explanation:
Marginal Revenue Product simply refers to the additional revenue that's gotten when one or more unit of input is used. It is the marginal revenue that us gotten as a result of additional resource.
From the question, we are informed that clearing one acre brings in $1,000 in revenue, therefore the marginal revenue product of hiring one low-skilled worker to clear woodland for one month is $1000
Answer:
a. commission
Explanation:
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Answer:
6.5% at simple interest requires 30.77 years
6.0% at compounding of 6.5% requires 18.85 years
Explanation:
We want a PV of $1 to befome $3 in the future
n = 30,769
Compounding interest:
n = 18.85417668
n = 18.85
In the first account he would have 30,000 and the other account would have <span>13,333.33 for each rate</span>