1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
statuscvo [17]
3 years ago
13

When the representative firm maximizes profits _________. a. the marginal product of labor equals the wage.b. l product of labor

equals the wage. c. production is at its maximum. d. labor costs are minimized. e. the slope of the production function is at its flattest.
Business
1 answer:
adelina 88 [10]3 years ago
3 0

Answer:

a. the marginal product of labor equals the wage

Explanation:

The marginal product of labor represents the increase in output as a result of employing one more unit of labor. It is the additional output associated with an extra unit of labor.  The wage rate is the amount paid to workers for the provision of labor services.

For a firm to profit from an extra worker, the output from that worker must be equal or higher than the amount paid to the employee. In other words, the marginal product of labor must be equal to the wage rate.  Should the wage exceed the marginal cost, the firm will incur losses.

You might be interested in
A service fee charged by the bank would fall under which account?
valina [46]

Answer:

B. expense

Explanation:

This is an administrative expense which reports the fees incurred by a company for the expenses associated with its checking account transactions.

3 0
3 years ago
Jay is an 21 year old college senior. He reads on a financial blog that interest rates are being lowered by the Federal Reserve.
IceJOKER [234]

Answer:

A.

Explanation:

6 0
3 years ago
Read 2 more answers
Sometimes it is necessary to _____ after installing a new software program and before using it the first time.
Natasha2012 [34]
A. Restart your computer
8 0
3 years ago
Read 2 more answers
Units Unit Cost Inventory, Jan. 1 8,000 $11 Purchase, June 19 13,000 12 Purchase, Nov. 8 5,000 13 If 9,000 units are on hand at
Lostsunrise [7]

Answer:

The answer is: $100,000

Explanation:

Under LIFO (last in, first out) costing method, we use the oldest costs are used to determine the ending inventory:

We were given the following data:

  • Jan. 1: 8,000 purchased at $11 per unit
  • June 19: 13,000 purchased at $12 per unit
  • Nov. 8: 5,000 purchased at $13 per unit

If the ending inventory had 9,000 units, then its total cost is:

Ending inventory = (8,000 units x $11 per unit) + (1,000 units x $12 per unit)

Ending inventory = $88,000 + $12,000 = $100,000

3 0
4 years ago
_____ is an approach to personal selling that assumes that the buying process for most buyers is essentially identical and that
Setler [38]

Answer:

Mental states selling

Explanation:

Mental states selling, or the formula approach to personal selling, assumes that the buying process for most  buyers is essentially identical and that buyers can be led through certain mental states, or steps, in the buying  process.   Relies on a structured sales presentation just like the stimulus response.  These mental states includes (AIDS) attention, interest, desire, and action

3 0
4 years ago
Other questions:
  • For more advanced language learners, these can provide both news and drama from which teachers can create motivational practice
    9·1 answer
  • A shareholder's fundamental right to inspect books and records of a corporation will be properly denied if the purpose of the in
    15·1 answer
  • Which of the following would likely be covered under homeowners insurance but NOT by renter's insurance?
    6·1 answer
  • What is a graphical representation of the combination of goods and services that can be produced in a situation?
    11·2 answers
  • A firm has a stock price of $68.00 per share. The firm's earnings are $85 million, and the firm has 20 million shares outstandin
    11·1 answer
  • Listen to the NPR news piece about Rachel Carson, the author of A Fable for Tomorrow. You will note that the radio article menti
    10·1 answer
  • Mike interviewed Dan for a sales clerk position, and Mike really liked Dan. They got along great in the interview, and they are
    11·1 answer
  • Which of the following describes the results of an increase in supply on price and quintity in the market?a. Both price and quan
    10·1 answer
  • Nelson Ovalles worked as a cable installer for Cox Rhode Island Telecom, LLC, under an agreement with a third party, M&M Com
    7·1 answer
  • Recognition of normal balances The following items appeared in the accounting records of the Tape Box, a retail music store that
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!