Answer:
labor input pairs of jeans marginal physical value of marginal
per day product physical product
0 0 0 0
1 10 10 $300
2 36 26 $780
3 56 20 $600
4 68 12 $360
5 74 6 $180
6 76 2 $60
7 76 0 0
8 74 -2 -$60
The marginal revenue product is the value of marginal physical product, and you calculate it by multiplying marginal physical product times the unit price of the pair of jeans.
Answer:
The correct answer is A) the substitution effect
Explanation:
In other words, the substitution effect is when sales fall because the consumers change into cheaper alternatives when its price rises.
I would say a biomedical researcher because they need a PhD and that's one of the highest degrees you can get
Answer:
Identify whether each of the following events in this scenario occurs in the resource market or the product market.Event - Resource Market - /Product Market
1. Cho spends $10 to buy a box of aspirin.
Purchase of goods In the product market. Cho(families) purchase from a Firm
2. Bob spends $225 to purchase medical services from the Medical Clinic.
Purchase of services In the product market. Bob(families) purchase from a Firm
3. Cho earns $600 per week working for the Medical Clinic
Resource market. Families offer their labor to firm in exchange of cash
Inflow from a firm into households:
a. The $225 per week Bob earns working for Pillmart Pharmacy
c. The aspirin Cho receives The firm provide with output
Explanation:
A flow of goods or dollars from the firm (Medical Clinic) into the household:
would be either the services and good the clinic offers or the amount paid to the household for rent, wages and interest in return of the factor of production
CIO is the correct answer
