Answer:
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Answer:
Therefore, we can conclude that:
the marginal product of the third worker is 9.
Explanation:
a) Data and Calculations:
The productivity of first worker = 24
Increase in productivity from second worker = 18
Increase in productivity from third worker = 9
b) The marginal product or productivity of a worker shows the increase in productivity as a result of hiring an additional worker. To obtain the marginal product, we first calculate the change in output as a result of the change in the input of the particular resource. Then, this change in output is the marginal product.
Answer:
C. New medical evidence has been released that indicates a negative correlation between a person’s beef
Explanation:
The demand for a normal good reacts to price changes as per the law of demand. A reduction in price results in an increased demand for the normal good. If the consumer's income increase, the demand rises. Normal goods are contrasted by inferior goods whose demand reduces with an increase in consumer's income.
A reduction in equilibrium price and quantity for beef could be caused by an increase in the price of beef, reduced incomes, or negative news concerning beef in the market. From the option available, the news concerning the correlation between life expectancy and beef consumption is most likely to affect demand. As a normal good, the demand for beef will decrease because consumers will consider it a low-quality product.
Arbitration is a method to solve a dispute between two or more civilized without the help of the courts.
In Arbitration, the dispute could be discussed in non-formal manners and could be compromised to the solution that is felt the most comfortable by all of the parties involved.
Answer:
a. $265,000
Explanation:
Process costing is one of method to assign cost to manufactured unit. This method is most commonly used for identical units produced.
Terada Corporation also uses process costing system. In April $241,000 units were transferred out of the department. To identify the total cost under weighted average method we can add up beginning work in process and units transferred out. We get $265,000 if we add up beginning work in process inventory and cost of units transferred out from the department.
= $24,000 + $241,000
= $265,000.
