Answer:The formula for calculating marginal product of labour is output/no of workers
Explanation:For each day ,you will divide the output by the number of workers to get the MPL
Day 1 = _ because no production took place
Day 2 = 60/1=60
Day 3 = 100/2 =50
Day 4 = 130/3 = 43.3
Day 5 = 150/4 =37.5
Day 6 =160/5 =32
This in in line with the law of diminishing marginal product of labour .
Answer:
C
Explanation:
The statement uses an active verb and has clear, concise information that specifically applies to a job rather than a class.
Answer:
The correct answer is letter "B": Epicurus.
Explanation:
Greek philosopher Epicurus (341 b.C. - 270 a.C.) was immortalized in the Latin poem "<em>On the nature of things</em>" -Lucrecio- in which Epicurus is attributed that the object of wisdom is to suppress the obstacles that oppose to happiness. This does not imply the pursue of unbridled pleasure, but of a measured lifestyle in which the spirit can enjoy friendship and the cultivation of knowledge.
Answer:
There are two types of profit and costs in nay business, which are accounting costs/profit and the economic costs/profits.
Accounting costs include everything that is tangible or the monetary costs a firm pays, while the economic costs include the cost which is intangible(Opportunity costs) as well as tangible.
Here in this question, the profit of the firm therefore is,
a. From an accountant;s definition = 130000-(6000+42000+7000) = 75000.
b. From an economist's definition = 130000-(6000+42000+7000+65000+6000) = 4000.
Hope this helps you. Thankyou.
