Answer:
The question is missing the amount of output units that each additional unit of labor generates, but we can calculate how many units each additional unit of labor should produce in order to maximize profit.
In order for a firm to maximize its profit, the marginal revenue product (MRP) = marginal cost (MC).
MRP = output units per additional unit of labor x price per unit = U x $9
MC = $700
U x $9 = $700
U = $700 / $9 = 77.78, so we round up to 78 units
In order to maximize profit, each additional unit of labor must generate 78 additional units of output.
As a result of the demand increasing only slightly compared to the reduction in price, the demand must be <u>inelastic</u>.
<h3>Why is the demand inelastic?</h3><h3 />
The demand is considered to be inelastic if the price elasticity is less than 1.
The price elasticity is:
= (%Change in quantity/% Change in price)
Solving gives:
= 15 / 200 ÷ 0.50 / 3.50
= -0.525
In conclusion, the demand for the shakes is inelastic.
Find out more on inelastic demand at brainly.com/question/1899986.
Answer: (e.) The same pay as either a professor or as a chief economist at the Humane Society.
Explanation:
The correct answer would be <u>option (e)</u> because in this case there lies an ambiguity i.e. we are uncertain about skillets that an economists should be endowed with or for being a faculty member.
Therefore , it can be concluded that he would get at least as good pay as being faculty. In both cases he'll be better off.
People are known to engage in business every day. The answers to the question is below;
<h3>The
similarities between the business ventures of the Wander Girls and Roxanne Quimby</h3>
- Their businesses are both founded by women.
- They both encourages women in business ventures and other areas.
- They both encourages women to take care of themselves and not neglect themselves.
- They are advocate for self love for women.
<h3>The differences between the business ventures of the Wander Girls and Roxanne Quimby.</h3>
- Wander Girls are into travels specifically for women while Roxanne Quimby is into personal-care brand.
- Wander Girls is into service delivery while the other is into product delivery.
Roxanne Quimby is famous as she sell Burts Bees, a natural personal care brand. Elisha Brock, is known to be the founder of Wander Girls. It is an online community that aids and encouraging women to take themselves out by travel with the right resources and person.
Learn more about Business from
brainly.com/question/24553900
Answer:
30
Explanation:
Data provided in the question
Total utility consuming the 2 widgets = 240
Total utility consuming the 3 widgets = 270
So by considering the above information, the marginal utility of consuming the third widget is
= Total utility consuming the 3 widgets - Total utility consuming the 2 widgets
= 270 - 240
= 30
Basically we deduct the total utility consumes 2 widgets from the total utility consumes 3 widgets
