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adoni [48]
3 years ago
5

"A soybean farmer sells soybeans in a perfectly competitive market and hires labor in a perfectly competitive market. The market

price of soybeans is $6 a bushel, the wage rate is $30, the farmer employs eight workers and the marginal product of the eighth worker is 4 bushels. What would you advise this farmer to do?"
Business
1 answer:
Natalija [7]3 years ago
6 0

Answer:

Reduce employment because the wage paid is more than the marginal revenue product.

Explanation:

If the wage rate is $30, then the marginal cost for the eight worker is $30.

The marginal revenue product of the eight worker is given by the marginal product multiplied by the price per bushel:

MR = 4\ bushels*\frac{\$6}{bushel}\\MR=\$24

Since the marginal revenue product of the eight worker is less than the marginal cost (MR < MC), the farmer should reduce employment.

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As an HR manager in charge of employee appraisal, Bernice Hunter uses an appraisal method that utilizes narrative information, s
Studentka2010 [4]

Answer: Behaviorally anchored rating scale

Explanation:

  The Behaviorally anchored rating scale is one of the type of appraisal method that is used to combining all the performance, productivity and skills of an employee at the time of appraisal process.

 The main objective of the behaviorally anchored rating scale is to bring the main qualified criteria of the appraisal and then based on the employee performance and the eligibility the appraisal are given to an employees in an organization.    

 According to the question, the Bernice is basically using the  behaviorally anchored rating scale method for the purpose of utilization the narrative information for outlining the performance and behavior.  

    Therefore, Behaviorally anchored rating scale is the correct answer.

5 0
3 years ago
Using wheat to produce bread is an example of..?
Dennis_Churaev [7]
E.product morphing is an example
4 0
2 years ago
The manager of a cost center has the responsibility for making decisions affecting ______.
Yuki888 [10]

The manager of a cost center has the responsibility for making decisions affecting revenues and costs.

Revenue is the full earnings produced with the aid of a given source a belongings predicted to yield a big annual revenue. Revenue refers to the overall earnings a enterprise generates through its middle operations like income of services or products, rents on a property, routine payments, hobby on borrowings, and many others. revenue calculations come before getting rid of any prices, which include discounts and returns.

Cost denotes the quantity of money that a corporation spends at the creation or production of products or offerings. It does now not consist of the markup for profit. From a seller's point of view, cost is the amount of money that is spent to supply a very good or product. Fee is defined as to be priced at something or to lose. An instance of cost is for a loaf of bread to be priced at $3. An instance of value is to give up your freedom to offer freedom to any other man or woman.

Learn more about revenue here:- brainly.com/question/25623677

#SPJ4

6 0
2 years ago
A company has advance subscription sales totaling $45,000 for the upcoming year when four quarterly journals will mailed to cust
labwork [276]

Answer:

Journal  entry.

Debit creditors account with $15,000 and credit company's sales account with $15,000

Being quarterly journal subscription paid in advance last year.

Explanation:

The advance subscription payments customers are taken as creditors of the company. The company owes them the service of mailing the quarterly journals to them. The total creditors payment ($45,000) will be recorded as credit entry in the books of the company's creditors account and as the company discharges the liability, the amount is passed to debit side of the creditor's account. We assume equal quarterly subscription amount, which will result in $15,000 for each quarter in a year.

3 0
3 years ago
Travis Company purchased merchandise on account from a supplier for $5,700, terms 2/10, net 30. Travis Company paid for the merc
almond37 [142]

Answer:

Dr. Account Payable  $5,700

Cr. Discount Income  $114

Cr. Cash                      $5,586

Explanation:

Term 2/10, net/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after purchase and net credit period of 30 days.

According to given data

Purchases = $5,700

As the payment is made within discount period, so discount will be availed

Discount  = $5,700 x 2% = $114

Amount to be paid = $5,700 - $114 = $5,586

7 0
3 years ago
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