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jekas [21]
3 years ago
9

If the marginal product of labor falls whenever more labor is used, and labor is the only factor of production used by the firm,

than at every output level the firm's short-run average variable cost exceeds marginal cost. T/F
Business
1 answer:
valentina_108 [34]3 years ago
6 0

Answer:

False

Explanation:

If the marginal product of labor falls whenever more labor is used, and labor is the only factor of production used by the firm, than at every output level the firm's short-run average variable cost is less than marginal cost.

At the point of diminishing marginal productivity or returns, while marginal product is falling, marginal cost is rising because they have an inverse relationship.

Furthermore, at the point of diminishing returns, with marginal product falling with increasing output, marginal cost will rise above average cost because the cost of each additional unit of labor will be higher than the the previous, hence the average will be lower.

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The market for chewing gum is in equilibrium with a current price of 50 cents per pack and a quantity of 100,000 packs per day.
frez [133]

Answer:

A) an increase in the price of other kinds of candy

Explanation:

If the price of substitute products (other types of candy) increases, then the suppliers of chewing gum can increase their price without the quantity demanded decreasing. If the decrease in the price of chewing gum is smaller than the increase in the price of substitute products, the quantity demanded will increase.

If there was a price increase of the main ingredients used to produce chewing gum, then the supply curve would shift to the left (option B is wrong).

If the workers signed an agreement that lowered their wages, then the supply curve would shift to the right (option C is wrong).

A decrease in the number of young people in the market would decrease the quantity demanded for chewing gum, which in turn would decrease the equilibrium price (option D is wrong).

A decrease in income would also decrease the quantity demanded, which would in turn decrease the equilibrium price (option E is wrong).

5 0
3 years ago
Living Wages - This is the topic of debate. I am looking for a help on two things. How to write the paper and how to prepare the
vazorg [7]

Answer:

the answer is as follows

Explanation:

First of defining real wages is a cumbersome process. The living wage calculator developed by MIT professor Amy Glasemeier in 2004 eased the way a little but that too has it's issues.

The paper you are trying to write should start with this that how the idea of living wages is in itself difficult to be adopted as it is. Second the free market approach has been more successful in the economic history and a lot of evidence and data is available on that. The analysis that your paper will develop should outline the concerns that mainstream economists have regarding living wages and support it with some actual data.

The presentation would be rather easy after writing the paper. Which will include some graphs and data and some scholarly citations and it should work.

3 0
3 years ago
This document shows that you are allowed to work in the United States:
Stolb23 [73]

Answer:

d. work permit

Explanation:

The work permit is also referred to as the Employment Authorization Document or EAD. A work permit has the same design as a driver's license. It is issued by US Citizenship and Immigration Services (USCIS).

Foreigners coming into the US need to obtain a work permit to enable them to seek employment. The work permit card is presented to potential employers as proof that a person is duly authorized to work in the USA.

7 0
4 years ago
Read 2 more answers
Open-end mutual funds Group of answer choices All of these. calculate the NAV based on the total value of assets held divided by
lesya [120]

Answer:

calculate the NAV based on the total value of assets held divided by the number of fund shares outstanding and may experience fluctuations in the number of shares outstanding on a daily basis

Explanation:

In the Open-end mutual funds it does not limit the no of shares what they are offering, purchase and sold on demand. In the case when the investor buy the shares in the opne-end fund so in this the fund is issued and at the time when the shares are sold by someone so they would be bought back from the fund

It should be determined the NAV depend upon the total amount of assets divided by the number of fund oustanding shares and might be experience fluctations

8 0
3 years ago
Liham para sa kaibigan​
Citrus2011 [14]

Answ          weres the leter

Explanation:

4 0
3 years ago
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