You need to know how many hours it took these workers to make the rugs to determine the labor cost.
Answer:
The firm should increase output and reduce price
Explanation:
For a monopolist, there can be one of the following three scenarios at a time point in time:
Scenario one, MR = MC: For a monopolist, profit is maximized at the point where marginal revenue (MR) is equal to to marginal cost (MC), i.e. where MR = MC.
Scenario two, MR < MC: But when the MR < MC, it indicates that the monopolist is currently producing a higher quantity of output and it is not maximizing profit. In order to maximize profit, the monopolist has to reduce output until MR = MC.
Scenario three , MR > MC: But when the MR > MC, it indicates that the monopolist is currently producing a lower quantity of output and it is not maximizing profit. In order to maximize profit, the monopolist has to increase output until MR = MC. Also, the monopolist has to reduce price in order to sell the increased quantity of output.
From the question, the monopolist falls into scenerio three as MR > MC, i.e. $45 > $35. Therefore, the monopolist should increase output until MR = MC and reduce price in order to maximize profit.
Answer:
The material cost of the work in process at March 31 is d. $0
Explanation:
Note: Equivalent unit of Work in process of Material is 0 as material are added at the end of process which leads to total cost of material of work in proccess = 0.
No, its not illegal to order a pizza for someone else
Answer: Investment in human capital
Explanation:
The investment in human capital is one of the important element in the economical concept as it helps in developing the growth and productivity of an economy and also expanding the various types of skills, ideas and knowledge.
The human capital is one of the type of intangible asset in an organization that helps in analyzing the economic value on the basis of the employees skills and ability.
According to the given question, the investment in human capital is one of the long run growth in the economy. Therefore, Human investment capital is the correct answer.
