1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
JulsSmile [24]
3 years ago
15

After hiring 151 units of the variable input, labor, a firm determines the MFC to be $.30 and the MRP to be $.33. The firm shoul

d Group of answer choices increase the price of its product. decrease production of its output. increase the use of labor. produce 151 units. decrease the use of labor
Business
1 answer:
zhuklara [117]3 years ago
7 0

Answer:

Option (c) is correct.

Explanation:

Labor (Variable input) hired = 151 units

After hiring this much units of labor, a firm incurred:

Marginal cost of hiring (MFC) = $0.30 and marginal product of labor (MRP) = $0.33

The firm continuing hiring new labor until the point at which marginal cost of hiring labor is equal to the marginal product of labor.

In this case, MFC is less than the MRP, so firm should increase the use of labor till the MFC becomes equal to the MRP.

You might be interested in
The Motorola team that developed the Razr cell phone was a good working team because they agreed on the objectives at hand and o
d1i1m1o1n [39]

Answer:

False

Explanation:

Groupthink is when a group of individuals reach a consensus without really weighing the matter, comsequences, or whether you can have other alternatives. Groupthink takes its cue from just desiring not to upset the balance of a group of people. This in no way does not describe the Motorola team that developed the Razr cell phone. They agreed on the objectives at hand and on the best approach to solve the problem.

6 0
3 years ago
Read 2 more answers
Gerome Houser is a pastry chef at McKay’s Eatery. His annual salary is $45,623. His benefits include $1,755 for two weeks of vac
alexgriva [62]
First, we add up all the benefits that Gerome Houser gets from his job. That is,
                       $1,755 + $3,898 + $2,898 +$2,098 +$1,404 = $12,053
Then, we divide this amount by his annual salary and multiply the quotient by 100% to get the answer. 
                        ($12,053 / $45,623) x 100% = 26.4%
Therefore, Gerome Houser's rate of benefits is approximately 26.4%. 
5 0
3 years ago
Why is it important to be present and active in your courses?
nalin [4]
It is important to Learn, and Write down Results/Notes.
5 0
3 years ago
Read 2 more answers
What is GDP of a country
Arlecino [84]

Answer:

Gross Domestic Products (GDP) is a measure of the total market value of all finished goods and services made within a country during a specific period.

Explanation:

GDP is an acronym for Gross Domestic Products (GDP) and it can be defined as a measure of the total market value of all finished goods and services made within a country during a specific period.

Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.

On a related note, Gross Domestic Products (GDP) is a measure of the production levels of any nation.

Basically, the four (4) major expenditure categories of GDP are;

I. Consumption (C).

II. Investment (I).

III. Government purchases (G).

IV. Net exports (N).

In conclusion, GDP is a measure of the total amount of finished goods and services produced by a country.

6 0
3 years ago
How will the rapo rate cut affect the economy?​
jeka94

Answer:

The decrease in repo rates is to aim at bringing in growth and improving economic development in the country. Consumers will borrow more from banks thus stabilizing the inflation. A decline in the repo rate can lead to the banks bringing down their lending rate

3 0
3 years ago
Other questions:
  • Before Sarah makes any changes based on the Budget Performance Report for September, she wants to be sure she understands the re
    6·1 answer
  • "The board of directors of Capstone Inc. declared a $0.70 per share cash dividend on its $3 par common stock. On the date of dec
    9·1 answer
  • On January 1, 2021, McGee Co. had the following balances: Projected benefit obligation $7,800,000 Fair value of plan assets 7,80
    7·1 answer
  • Tulane Tires wrote a contract for a $110,000 sale to the new Garden District Tour Company. Tulane only anticipates a slightly gr
    13·1 answer
  • What is a mission statement?
    5·2 answers
  • At December 31, 2020, the following information is available from Burnett Company’s accounting records. If sales are $510,000 an
    15·1 answer
  • Which qualities of the voice are described below?
    6·1 answer
  • According to Herzberg, which group of motivational factors would give employees the most satisfaction
    8·1 answer
  • "Davcher, Inc. is considering a project for next year, which will cost $5 million. Davcher plans to use the following combinatio
    10·1 answer
  • When consumers believe that various items provide the same set of attributes, brand _________ results.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!