<span>An effective team would never have only one person do the work.
An effective team would work together as one to strive for their goal.
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Answer:
a. No, the firm is not minimizing the cost of production.
b. The firm should continue to increase the units of labor by reducing the unit of capital until when the ratio of Marginal product of labor to Marginal product of capital of is equal to the ratio of w to r.
Explanation:
a. Is the firm minimizing the cost of production?
The firm minimizing the cost of production where:
Marginal product of labor / Marginal product of capital = w / r
From the question, we have:
40 / 28 = 6 / 3
1.43 = 2
Since the ratio of Marginal product of labor to Marginal product of capital of 1.43 is not equal to the ratio of w to r, the firm is not minimizing the cost of production.
b. What should the firm do, if anything, to produce the same level of output at lower cost?
The firm should continue to increase the units of labor by reducing the unit of capital until when the ratio of Marginal product of labor to Marginal product of capital of is equal to the ratio of w to r.
The closest point at which this will happen is when the Marginal product of labor is 45 and Marginal product of capital is 23 where we have:
45 / 23 = 1.96, or 2 approximately.
The correct answer that would best complete the given statement above would be INTERACTIVE PROMOTION. Interactive promotion c<span>hanges the relationship between buyers and sellers from a monologue to a dialogue in which information is shared to create mutually beneficial exchanges. Other options for this question include advertising, a push strategy and public relations.</span>
A strong incentive structure aligns worker self-interest with firms' interest.
<h3>What are incentives?</h3>
These are money or other forms of benefits that are given to the workers that are in a work place.
The reason why incentives are given is to encourage and influence the behavior of the workers. The incentives are used to motivate the workers to do more for the business.
Read more on incentives here:
brainly.com/question/964887
That statement is false.
Variable cost is the type of cost that incurred everytime a product is being produced. In flexible budget, the total budget will be adjusted to the amount of changes in volume or activity, which make the variable cost pretty much the same even though the activity is declined
