Answer:
marginal revenue product of labor is equal to the marginal cost of labor.
Explanation:
In a competitive capitalist economy, firms adopt their strategy of maximizing profit by producing on the scale where marginal revenue (price) equals marginal cost (cost of producing one more unit). The same applies to the rationalization of productive inputs, such as labor. The firm will adopt the amount of production-maximizing labor in which marginal labor productivity (how much more worker produces) equals marginal labor cost (cost of hiring an extra worker). As long as marginal labor productivity is higher than marginal labor cost, the firm has hired. The moment these accounting identities match, the firm will stop contracting because this is the point of maximum productivity that will be able to maximize profit.
Explanation:
The study of organizational behavior in a company can be beneficial for managers to optimize people management practices.
The attitudes of employees in an organization are responsible for creating an organizational climate focused on harmony and ethics, so it is necessary for managers to know the profile and motivations of employees, to develop strategies that will help in creating a favorable organizational culture. the development of skills and abilities.
Knowing organizational human capital is extremely necessary to analyze how employees communicate individually and in teams, in order to develop tactics that maximize their potential and keep them motivated and engaged, so that there is integration and increased employee productivity, an essential factor for assist in business maximization and success.
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The most basic part of a WAN services contract is the manner by which the service provider supplies investigating, organize administration, and security administration administrations. Media transmission specialist co-ops offer WAN availability administrations. A few suppliers presently additionally give security administration administrations.
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Media communications organizations are in charge of building and transporting client IP movement. In some cases this IP movement is packaged with devoted Internet get to, giving shared broadband access association wide. In the event that associations outsource their WAN infra-structure, administration and security must stretch out to the service provider.
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Answer: See explanation
Explanation:
a. State and describe the concept that leads to "conflict of goals between a firm's managers and its shareholders. Give a modern day example of this concept, and discuss some potential solutions.
This is referred to as the agency problem. This brings about conflict of goals between the manager and the shareholders. An example is when the managers use the resources of the company for their own personal benefits or in a scenario whereby the managers fake the earnings so that the stock prices will rise temporarily.
b. State and describe the concept that states, "factors of production are somewhat immobile." Give an example with detail.
This is referred to as imperfect market theory. When transferring labor, capital or other resources, there are costs attached to the transfer and restrictions as well. .