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Natali5045456 [20]
3 years ago
10

Even when competitive firms are unable to calculate marginal revenue product directly, ______________________________ will push

wage rates toward the marginal revenue product of labor.
Business
1 answer:
Alona [7]3 years ago
8 0

Answer:

Even when competitive firms are unable to calculate marginal revenue product directly, <u>competition in the labor market</u> will push wage rates toward the marginal revenue product of labor.

Explanation:

The labor market is made up of employers seeking for labor and employees offering their labor services. The law of supply and demand also applies to this market, when more employers are seeking employees, the price (= salary) will increase.

For example, if many companies are making a  profit and they need more labor, the salaries will rise because the demand is rising.

Also the suppliers, the potential employees, compete against each other for the best possible jobs.

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A stakeholder is any person or organization that has a legitimate interest in a specific project or policy decision. As an economist, whenever you are required to discuss the costs and benefits.

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Which of the following is an assumption of the decision-making process followed by consumers to maximize utility? rev: 04_09_201
kari74 [83]

Answer:

The correct answer is: The consumer considers the prices of the products.

Explanation:

When taking the decision regarding how to maximize utility the consumers will consider the prices of the products. The consumer will be able to maximize utility at the point where the marginal utility of money spent on each commodity is equal.

We can represent it as,

\frac{MU\ of\ good\ A}{Price\ of\ good\ A} = \frac{MU\ of\ good\ B}{Price\ of\ good\ B}

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2 years ago
Name three or four items that are not covered under homeowners insurance.
Lera25 [3.4K]

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4 0
3 years ago
Consider the following threeminusyear project. The initial afterminustax outlay or afterminustax cost is​ $1,500,000. The future
Elan Coil [88]

Answer:

1.875 years

Explanation:

The payback period is the period required for a project to repay its initial investments.

Pay back period = initial investments/ initial investments

In this case: Initial investments: $ 1,500,000.00

cash flows :

Year       initial invest Accumulated Depreciation

0     ( 1,500,000.00)  (1,500,00.00

1     800,000    800,000

2     700,000   700,000/800,00

Payback period = 1 year + 700,000/800,000

   = 1.875 years

8 0
3 years ago
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