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Nata [24]
2 years ago
8

Let L represent the number of workers hired by a firm, and let Q represent that firm's quantity of output. Assume two points on

the firm's production function are (L = 5, Q = 125) and (L = 6, Q = 152). Then the marginal product of the 6th worker is:
Business
1 answer:
JulijaS [17]2 years ago
7 0

Answer:

Explanation:

Given:

  • (L1 = 5, Q1 = 125)
  • (L2 = 6, Q2 = 152)

So we can form the linear equation that model this situation:

The standard form of it is:

Q = mL + b

So the slope of it is:

  • m =(Q2 - Q1) / (L2 - L1)

<=> m = (152 - 125) / (6 -5)

<=> m = 27

Then the marginal product of the 6th worker 27 units of output.

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saul85 [17]

The selling price per hat is mathematically given as

S=$62

<h3>What is the selling price per hat?</h3>

Direct labor hours required to produce first 100 hats=10hr

Direct labour cost =20hr*60$/hour = $1200

Other Direct cost =100hats*19$/hat = $1900

Total Direct cost. = $3100

Selling price is 200% of Direct production cost

$3100*200% = $6200

The selling price per hat = $6200 / 100hats

The selling price per hat = $62

In conclusion, The selling price per hat = $62

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3 0
2 years ago
What are some well paying animal related jobs that don't require lots of school?
devlian [24]

Answer:

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Explanation:

these are all examples of high paying animal related jobs that do not require less of school, though depending on the facility, they may require schooling.

7 0
2 years ago
Which of the following is a problem associated with the rational method of developing questionnaire items?
7nadin3 [17]

Answer:

2. Participants might give socially desirable or false answers rather than honest ones because the questions are transparent.

Explanation:

A questionnaire comprises of questions in open-ended or closed-ended formats used to effectively get informations from a selected sample size in a specific period of time. When designed correctly or properly, questionnaires can be used to gather user data(thoughts, views, opinions) in a short period of time.

The problem associated with the rational method of developing questionnaire items is that participants might give socially desirable or false answers rather than honest ones because the questions are transparent.

8 0
2 years ago
Suppose good x has a negative income elasticity of demand. This implies that good x is
zloy xaker [14]

An <u>inferior good.</u>

<u></u>

For inferior goods, when income rises demand falls.

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The CEO of a large beverage company led the company in the takeover of its two largest bottlers. The CEO pushed for the merger b
ruslelena [56]

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Conceptual Skills

Explanation:

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