Answer:
The correct answer is marginal product.
Explanation:
The marginal product of labor is the change in the output or total product because of hiring an additional unit of labor. In other words, the amount that an additional worker adds to the revenue is its marginal product.
It can be expressed as,
The marginal product of labor depends on the quantity of capital and labor already employed.
Answer:
The appropriate amount of Bad Debt Expense is $3,345.20.
Explanation:
The appropriate amount of Bad Debt Expense can be calculated as follows:
Bad debt expense = (Percentage of accounts receivable not yet due it will not collect * Accounts receivable not yet due) + (Percentage of receivables up to 30 days past due it will not collect * Amount of receivables up to 30 days past due) + (Parentage of receivables of receivables greater than 30 days past due it will not collect * Amount of receivables greater than 30 days past due) - Allowance for Uncollectible Accounts (credit) ……………………… (1)
Substituting the relevant values into equation (1), we have:
Bad debt expense = (7% * $7,500) + (20% + $2,300) + (46% * $2,000) - $400 = $3,345.20
Therefore, the appropriate amount of Bad Debt Expense is $3,345.20.
Answer:
d. cost-less will go out of business, and durable will gain higher power over its customers.
Explanation:
Durable ceramics, inc will only reduce its prices if this is to its advantage. We live in a capitalist world where companies make decisions based on their own benefits. In this case, in order for Durable ceramics, inc to lower its prices and have no losses, it would expand its sales. In this way, Durable ceramics, inc would be able to capture customers from its competitors, and could make them go bankrupt.
Thus, we can conclude that if Durable ceramics, inc reduced its prices, Cost-Less would go out of business and Durable would gain greater power over its customers.
Answer:
Substitution
Explanation:
Principle of subsitution states that no consumer should buy a product for a high price of he can get an alternative (duplicate) that is of a cheaper price.
Substitutes are alternatives that provide similar satisfaction to the customer.
When the price of one product goes up the customer has a choice of going for an alternative.
For example honey and sugar are substitutes. When the price of one goes down people will go for the cheaper alternative. This acts as a price control mechanism.
