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3 years ago

If the market for this labor were perfectly competitive, what would the wage rate and quantity of labor employed be?

Business

1 answer:

DochEvi [55]3 years ago

6 0

Answer:

If the market for labor was perfectly competitive, then the wage (price of labor) would be determined by the industry, not by individual firms. Therefore, individual firms would be wage takers. The equilibrium wage would be determined by the market and the supply of labor (the workers) should be perfectly elastic.

The demand of labor = marginal revenue product. Marginal revenue product is calculated by multiplying total marginal physical output by marginal revenue per unit of output.

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The roles and responsibilities of hrm professionals have evolved primarily because?

PIT_PIT [208]

Human resource management tasks and responsibilities have developed largely as a result of two important factors: (1) firms' identification of workers as their ultimate resource and (2) changes in legislation that overturned many conventional practices.

Human resource management is mostly the practice of recruiting, hiring, the deployment, and managing personnel in a business. HRM is frequently abbreviated as "human resources" (HR).

HRM has changed dramatically over the previous two decades, making it an even more vital position in today's enterprises. HRM used to involve processing payroll, sending birthday presents to staff, organizing corporate trips, and ensuring forms were completely filled out, in other words, more of an administrative duty than a strategic position critical to the organization's success.

Therefore, human resource management duties and responsibilities have primarily evolved as a result of two key factors: (1) enterprises' identification of workers as their ultimate resource and (2) legislative developments that have reversed many traditional practices.

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6 0

2 years ago

On November 30, Parlor, Inc. purchased for cash at $15 per share all 250,000 shares of the outstanding common stock of Shaw Co.

scoray [572]

Answer:

Value of goodwill = $350,000

Explanation:

In case where is investment in 100% shares of a company then that may give rise to goodwill or rise to capital reserve.

Any amount paid to acquire that interest in company more than the value of such company is recorded as goodwill.

Here, cost of acquisition = $15 $\times$ 250,000 = $3,750,000

Carrying value of net assets of the company = $3,000,000

Increase in value due to fair value = $400,000

Value of goodwill = Purchase price - Fair Value of net assets

Therefore, value of goodwill = $3,750,000 - ($3,000,000 + $400,000) = $350,000

7 0

4 years ago

Changes in the PPI can predict changes in the consumer price index because

Lelu [443]

Producers often pass along price increases to customer.

5 0

3 years ago

Outback Outfitters sells recreational equipment. One of the company’s products, a small camp stove, sells for $140 per unit. Var

dsp73

Requires is important sometimes

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3 years ago

Aggregate supply definitions The short-run aggregate supply curve shows How firms respond to changes in interest rates Changes i

scoundrel [369]

Answer:The real Gdp

Explanation:

Short run aggregate supply curve is upward sloping and it shows the relationship between the price level and output. it is upward sloping because the quantity supplied increases when the price rises. Real GDP or otherwise known as changes in aggregate demand and aggregate supply is assumed to remain unchanged because they are not caused by changes in the price level. Economic growth are one of the things that can cause change in real Gdp. Things that cause changes along a given short run supply curve can include the following: wages, increase in physical capital or advancement in technology.

3 0

3 years ago