Marginal productivity theory assumes that a worker’s income is a function of the contribution of that worker to the value of the output. in business, this is called the "value-added" approach.
There is a correct theory called marginal productivity theory. Wages are paid at a level equal to the marginal revenue product of labor, the MRP (value of the marginal product of labor). MRP is the increase in income caused by the increase in output produced by the last employed worker.
The marginal productivity theory of income distribution proposes that each individual should receive income based on their contribution to total output. The marginal productivity theory of income distribution has been criticized for the following reasons. Income from inheritance is inconsistent with the theory.
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Answer:
The correctt answer that fills the gap is Double.
Explanation:
GDP per capita, income per capita or income per capita is an economic indicator that measures the relationship between the level of income of a country and its population. For this, the Gross Domestic Product (GDP) of said territory is divided by the number of inhabitants.
The use of per capita income as an indicator of wealth or economic stability of a territory makes sense because through its calculation, national income is interrelated (through GDP in a specific period) and the inhabitants of this place.
The objective of GDP per capita is to obtain data that shows in some way the level of wealth or welfare of that territory at a given time. It is often used as a measure of comparison between different countries, to show differences in economic conditions.
Answer:
The amount of gross margin is 28 if Hoover uses the weighted average cost method
Explanation:
Based on this information, the amount of gross margin is 28 if Hoover uses the weighted average cost method.
When using the weighted average method, you divide the cost of goods available for sale by the number of units available for sale, which yields the weighted-average cost per unit.
From the scenario, the two identical inventory items purchased are:
First cost ........$33.00.
Second cost ..$35.00.
Weighted Cost = (33 x 1) + (35 x 1)] / 2 = $34
Gross profit = $62.00 (sales price) - $34 (cost) = $28
Answer:
The correct answer is Formulation.
Explanation:
The decision-making process refers to all the necessary activities from identifying a problem to finally solving it by implementing the selected alternative; therefore, it is framed in the solution of problems where alternative solutions must be found.
When one speaks only of decision-making, it refers to a stage within the process and there must be at least more than one alternative solution, otherwise the decision would be reduced to carrying out the corresponding action or not.
The decision-making process presented here must have a premise, it must be carried out rationally or "as should be done" resulting in a normative model or prescriptive model to make decisions that serves as an objective guide to solve a problem of most optimal way.
This rationality in accordance with a normative model means making decisions according to the criteria of cost and benefit. That is, to carry out the activity only when the expected benefits are higher than the associated costs, in this way the activity that offers the greatest utility is carried out. In this context, utility as a difference of benefits and costs is associated with a measure of well-being or improvement, which implies always quantifying the options.