Answer:
The correct answer is (B)
Explanation:
Economists are helpful to predict future economic and financial phenomenon’s. In that regard, statistical or mathematical models are considered more appropriate and it is said that they provide better results. In the above scenario, Syd is attempting to construct an economic model for that, the suitable technique to examine the cause and effect to predict the outcomes are mathematical functions. The reason is that mathematical models are more appropriate to predicts cause and effect.
Answer:
Socio-Demographic characteristic
Explanation:
Answer:
The correct answer is: marginal product; average product of labor
Explanation:
Marginal product of a resource or input can be defined as the increase in output because of employing an additional unit of that resource or input.
It can be calculated by the ratio of change in output to change in input.
The variable factor in the short run is labor. Average unit produced by each labor unit is termed as the average product of labor.
It is calculated by the ratio of total output to quantity of labor employed.
Answer:
cost of goods available for sales= $3,180
Number of units= 50 units
Explanation:
Giving the following information:
Wattan Company reports beginning inventory of 10 units at $60 each. Every week for four weeks it purchases an additional 10 units at respective costs of $61, $62, $65, and $70 per unit for weeks 1 through 4.
To calculate the cost of goods available for sales, we need to use the following formula:
cost of goods available for sales= beginning inventory + cost of goods purchase during the year
cost of goods available for sales= 10*60 + 10*61 + 10*62 + 10*65 + 10*70
cost of goods available for sales= $3,180
Number of units= 5*10= 50 units
<span>Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero. when the firm hires 6 workers the firm produces 90</span>
