Answer:
The correct answer that fills the gaps are: A. increase; E. decreasing.
Explanation:
The Law of diminishing returns has a fundamental role in the productivity of a factor, since it indicates that the marginal productivity of each factor decreases as more units of it are added to the production process (leaving the rest of the productive factors in a constant amount). In this way exceeding the optimum amount of a productive factor can even result in a decrease in total productivity.
It is necessary to explain the basic concept of diminishing marginal returns. If we increase the quantity of a productive factor and leave the amount used of the rest fixed, there will come a time when the quantity of final product we obtain is less as we produce more and more. There may even come a time when, by increasing a unit of factor employed (for example, work or machinery), production decreases.
Explained in simple words, it seems that despite what may be thought a priori, increasing a factor not only does not increase the production of the good or service but can lead to a gradual decrease in the amount produced.
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NOTE: If you need to extend the explanation given, you can make a comment or add a new question. I will be very pleased to help you.
A bachelor's degree (from Middle Latin baccalaureus) or baccalaureate (from Modern Latin baccalaureatus) is an undergraduate academic degree awarded by colleges and universities upon completion of a course of study lasting three to seven years (depending on institution and academic discipline).
Answer:
Waldman Associates
Waldman does not have a contract for purposes of revenue recognition on the day the contract is received.
Explanation:
Revenue from contracts with customers becomes recognizable after the performance of the obligations and not before. Revenue is recognized when the contractor has transferred the benefits to the beneficiary and not before. Revenue, in this instance, is to be recognized based on past performance. According to IFRS 15 and ASC 606, revenue is recognized when each performance obligation has been fully satisfied. This is the point when economic benefit has been conferred on the other contracting party.
Answer:
3 units
Explanation:
Each unit sells at $3. We can calculate this by dividing $90 by 30 units = $3 per unit.
Since the total revenue with the sixth worker is $126, the total output = $126 / $3 = 42 units
Marginal product of the sixth worker = total output with six workers - total output with five workers = 42 - 39 = 3
Marginal product refers to the change in total output resulting from an increase in the number of inputs (workers in this case).
