Answer:
Explanation:
Labor Input Physical output
10 500
11 600
12 690
13 760
14 800
marginal output of 11 th labor = 600 - 500 = 100
price of each product = 7
marginal revenue product of 11 th labor 7 x 100 = 700
B )
price of each of the goods sold = 10
marginal factor cost of labour = 700
minimum no of goods to be sold to cover the labour cost
= 700 / 10 = 70
no of goods added due to addition of 11 the labour = 100
no of goods added due to addition of 12 the labour = 90
no of goods added due to addition of 13 the labour = 70
so no of units of labor upto which the firm will continue to hire
= 13 .
Answer:
Cost price formula = Cost + Profit
Explanation:
The Cost price formulas count two factors the gives price of product and services. The cost price formula has two factors cost of product and profit percentage that seller want to generate from specific product or services.
Answer:
D
Explanation:
Liability means being responsible for something, usually by law, so liability insurance is when insurance protects you from charges from the other party's injuries and/or damage to their car in the case of an accident.
Training, education, or experience to validate you can do the job you are applying for
Experience
Achievements
Reliable
Answer:
The high school student should analyze the point at which the marginal cost equals the marginal benefit.
In other words, he or she should see if the increased costs of attending Petesburg University are more or less equal to the increased benefit that is gained from graduating from a more prestigious university.
The student should also analyze the possible opportunity cost in the future. Attending amore renowned college can result in better job prospects than doing otherwise. Higher salaries in the future could be given up if he or she chooses the cheaper option.