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Marina CMI [18]
3 years ago
8

You have been hired by the No Hassle Collection Agency to provide economic advice. The owner of the agency tells you that No Has

sle's only variable input is the number of collection agents. The hourly wage for collection agents is $40.00. The marginal revenue product curve for collection agents reaches its maximum at five workers with a marginal revenue product of $34.00. What advice would you give this firm?
Business
1 answer:
bearhunter [10]3 years ago
6 0

Answer:

The marginal revenue product has a property known as diminishing marginal return.

The property of diminishing marginal return tells us that theres an amount of input that maximizes revenue, and after this point is reached, additional units of input less addional revenue until diminishing it.

In this example, the Collection Agency is way past the maximum revenue point (located at $34.00 per worker). It needs to lay off employees until it goes from the current $40.00 marginal revenue product, until $34.00 marginal revenue product.

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In emerging industries _________. a. product-differentiation efforts are focused on product refinement as a basis of product dif
Ilya [14]

Answer:

The correct answer is (B)

Explanation:

Companies which are first movers generally take a competitive advantage over other companies based on experience, technology and first-mover advantage. First movers usually control the market and that makes it hard for other companies to enter the market. Perceived technology helps such companies to gain more customers and their trust which leads them to take the maximum market share possible.

6 0
3 years ago
Aaron, korben and zane are preparing to work on a big project for the firm. they meet to decide who is going to complete which t
marin [14]

The activity that Aaron, Korben and Zane is involved in is the division of labor. This is a process or a step where a group or in an organizations provides and assigns specific tasks or divides task among the members or employees in a group or organization.

5 0
3 years ago
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Eneri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10000 $9.20 Purchases: June 18 9
Gre4nikov [31]

Answer:

$206,000

Explanation:

Beginning inventory                         10,000*9.2       $92,000

Purchases during the month       (9000*8+ 6000*7) $114,000

Cost of Goods available for sale                                   $206,000

3 0
3 years ago
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Diane is the office manager at Pamentas, a luxury watch manufacturer. She organizes the office operations and procedures, assign
Alexeev081 [22]

Answer:

C) first-line manager

Explanation:

First-line managers are managers that are charged with the responsibility of operating and see to the day-to-day running of their departments.

Their functions include managing work flow, resolving employee problems, assigning tasks to entry level employees, monitoring work quality of entry employee, and informing the middle managers and executive managers of results achieved and problems being encountered at lower level of the company.

Therefore, Diane is most likely a first-line manager at Pamentas based on scenario presented in the question.

7 0
3 years ago
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Initially a bank has a required reserve ratio of 10 percent and no excess reserves. If $1,000 is deposited into the bank, then,
mixer [17]

Answer:

$100 would be held as required reserves

$900 would be available to be given out as loans

Explanation:

The required reserve is the minimum amount set by the Central bank that must be held as reserves by banks.

If $1000 is deposited and 10% is the required reserves, 0.1 × $1000 = $100 would be held as required reserves.

$1000 - $100 = $900 would be available to be given out as loans.

I hope my answer helps you.

5 0
3 years ago
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