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pychu [463]
3 years ago
6

On a 100-acre farm, a farmer is able to produce 3,000 bushels of wheat when he hires 2 workers. He is able to produce 4,400 bush

els of wheat when he hires 3 workers. Which of the following possibilities is consistent with the property of diminishing marginal product? a. The farmer is able to produce 5, 600 bushels of wheat when he hires 4 workers. b. The farmer is able to produce 5, 800 bushels of wheat when he hires 4 workers. c. The farmer is able to produce 6,000 bushels of wheat when he hires 4 workers. d. All of the above are correct.
Business
1 answer:
olasank [31]3 years ago
7 0

Answer:

Option (a) is correct.

Explanation:

According to the law of diminishing marginal productivity, if there is an increase in the input in the production of a certain commodity then as a result there is an increase in the output of that commodity, initially but further increase in the input will have no impact on the output of the commodity or will have a negative impact.

In our case, when farmer hires 3rd worker, the output increases by 1,400(4,400-3,000) bushels. According to the law of diminishing marginal productivity, if he hires 4 workers then there is an increase in the output but less than the 1,400 bushels.

This condition will be satisfied in the option (a), where output increases by 1,200 bushels.

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Answer:

Desired and welcomed in various social situations

Explanation:

Mass media reaches the large audiences, whether it is internet, television or radio. The influence on everyday life is therefore very strong, whether it is the way we vote, our individual views and believes or shaping of our knowledge about certain topic based on true or false information.

7 0
3 years ago
Moskowitz Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 91 Ma
Molodets [167]

Answer:

Moskowitz Corporation

The net operating income (loss) under variable costing in Year 2 is closest to:

= $56,000.

Explanation:

a) Data and Calculations:

Selling price per unit                                                            $ 91

Manufacturing costs:

Variable manufacturing cost per unit produced:

Direct materials                                                    $ 13

Direct labor                                                            $ 7

Variable manufacturing overhead                      $ 3            23

Contribution per unit                                                         $ 68

Fixed manufacturing overhead per year                 $480,000

Selling and administrative expenses:

Variable selling and administrative expense per unit sold $ 6

Fixed selling and administrative expense per year $ 84,000

                                                       Year 1         Year 2

Units in beginning inventory          0            3,000

Units produced during the year   12,000   10,000

Units sold during the year             9,000   10,000

Units in ending inventory              3,000     3,000

Year 2:

Income Statement:

Sales Revenue ($91 * 10,000) =  $910,000

Variable manufacturing costs      230,000 ($23 * 10,000)

Variable selling and admin.            60,000 ($6 * 10,000)

Contribution margin                   $620,000

Fixed manufacturing costs          480,000

Fixed selling and admin. costs      84,000

Net operating income (loss)      $ 56,000

8 0
2 years ago
A company has large number of employees who have various roles and responsibilities. many times the company has encountered situ
Dennis_Churaev [7]

The answer to the question is the least privilege policy.

The least privilege policy refers to a concept in computer security where users in a computer network are limited in terms of their ability to access things in the network according to the level of access needed for them to do their job. Thus, a person who works in Finance for example, would have a higher level of access compared to someone who works in Operations.  

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3 years ago
Purely domestic firms will be at a disadvantage to mnes in the event of market disequilibria because
Amanda [17]

Purely domestic firms will be at a disadvantage to men's in the event of market disequilibria because domestic firms lack comparative data from its own sources.

<h3>What are domestic firms?</h3>

Most or all of the operations of domestic companies are conducted within the US. They might export goods or import supplies, but these activities often make up a modest portion of overall corporate activity. US securities regulations primarily apply to domestic enterprises. Typically, their financial reports are created using widely accepted accounting principles (GAAP).

To know more about domestic firms visit:

brainly.com/question/13770538

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8 0
11 months ago
The account balances and income statement of Winfrey Towing Service on June 30, 2018, follow:
Alina [70]

Answer:

1. WINFREY TOWING SERVICE

Statement of Comprehensive Income

                                           $

Service revenue               10,800

Rent expense                    (550)

Salaries expense              (1,900)

Dividends paid                  <u>(4,000)</u>

Net income                        <u> 4,350</u>

Statement of Retained Earnings

                                             $

Retained earnings b/f      3,900

Add: Net income               4,350

Retained earnings c/f       8,250

2. Statement of retained earnings report changes in retained earnings of a company in a given accounting year.

Explanation:

In this question, we need to obtain the net income of the company, which  is service revenue minus expenses minus dividend. Then, the statement of retained earnings is prepared by taking cognisance of the retained earnings brought forward and add the net income for the year.

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