All categories

3 years ago

You are the manager of a firm producing green chalk. The marginal product of labor is:

Business

1 answer:

ella [17]3 years ago

5 0

Answer:

24L^- 1/2

Explanation:

Given that

Marginal product of labor is

MPL = 24L^- 1/2

Power sign is not given in the question so we considered it

The price of green chalk= $1 per unit

The wage rate = $12 per hour

By considering the above information, the revenue product of labor would be

= 24L^- 1/2

= Price of green chalk × 24L^- 1/2

= $1 × 24L^- 1/2

= 24L^- 1/2

You might be interested in

The process through which a product or service takes root initially in simple applications at the bottom of a market and then mo

Kryger [21]

Answer: Disruptive innovation

Explanation: Disruptive innovation is an application of nicer finding that relay new conditions and demand at operation at current time that establishes a new demand and graphical diagram of civil and specialized aids inside and between companies and how they are effectively and practically used. Ultimately, it interrupts an existing demand and value network, taking over conventional demand-dominating companies, commodities, and unions.

6 0

3 years ago

G according to the neoclassical theory of distribution, the real wage earned by any worker equals that worker's marginal product

alexgriva [62]

<span>A. According to the neoclassical theory, technical progress that increases the marginal product of farmers causes their real wage to rise. B. The real wage in (a) is measured in terms of farm goods. That is, if the nominal wage is in dollars, then the real wage is W/PF, where PF is the dollar price of farm goods. C. If the marginal productivity of barbers is unchanged, the their real wage is unchaged. D. The real wage in (c) is measured in terms of haircuts. That is, if the nominal wage is in dollars, then the real wage is W/PH, where PH is the dollar price of a hair-cut. E. If workers can move freely between being farmers and being barbers, then they must be paid the same wage W in each sector. F. If the nominal wage W is the same in both sectors, but the real wage in terms of farm goods is greater than the real wage in terms of haircuts, then the price of haircuts must have risen relative to the price of farm goods.</span>

6 0

3 years ago

Net sales revenue is $720,000. Beginning and ending net accounts receivable are $62,000 and $58,000, respectively. Calculate the

neonofarm [45]

Based on the sales revenue and the net accounts receivable, the receivables turnover ratio is 12 times .

<h3>What is the receivables turnover ratio?</h3>

This can be found as:

= Net sales revenue / Average accounts receivable

Solving give:

= 720,000 / (62,000 + 58,000) / 2

= 720,000 / 60,000

= 12 times

Find out more on receivables turnover ratio at brainly.com/question/27523896.

#SPJ1

5 0

1 year ago

Your self-concept, personality type, and learning styles all affect your _____.

lyudmila [28]

Your self-concept, personality type, and learning style all affect your potential career choice<span />

4 0

3 years ago

Read 2 more answers

Johnson Waterworks Corporation provides plumbing services. Transactions during the first year of operations are provided below.â

lisov135 [29]

Answer:

$ 26,100

Explanation:

Given:

Cash received = $13,000

Amount Paid for equipment to be used for plumbing repairs = $1,500

Amount borrowed = $10,000

Amount paid in rent for the year = $400

Amount paid for plumbing supplies = $300

Amount received for completing a plumbing repair = $3,400

Plumbing supplies left at the end of the year = $400

Now,

the total cash = Total Amount received - Total Amount paid

The total cash = ($ 13000 + $ 10000 + $ 3400) - ($ 1500 + $ 400 + $ 300)

The total cash = $ 24,200

Now

the assets from equipment = $ 1,500

Thus,

the total assets at end of the first year = The total cash + the assets from equipment + Plumbing supplies left at the end of the year

The total assets at end of the first year = $ 24,200 + $ 1,500 + $ 400

The total assets at end of the first year = $ 26,100

5 0

2 years ago