Answer:
True
Explanation:
The production function is getting flatter since the marginal productivity of the 13th worker is lower than the marginal productivity of the 12th worker, e.g. the 12th worker produced 10 units per hour, the 13th worker only produces 9 units per hour.
The total cost curve will get steeper because the total cost of producing more goods will increase due to the lower marginal productivity of the 13th worker, e.g. since both workers earn $10 per hour, the units produced by the 12th worker will have a direct labor cost of $1 per unit, while the units produced by the 13th worker will have a direct labor cost of $1.11 per unit.
Answer:
5.5%
Explanation:
Nominal GDP = 3.5%
Economic growth rate = -2.6 %
population growth = 0.6%
To calculate the annual inflation rate :
Economic growth rate = Nominal GDP - %change in price - population growth
-2.6 = 3.5 - %change in price - 0.6
Therefore the %change in price ( inflation rate ):
inflation rate = 3.5 + 2.6 - 0.6
= 3.5 + 2
= 5.5%
The inflation rate of a country measures the relative increase increase in the price of commodities without a relative increase in purchasing power
Answer:
200 Unfavorable
Explanation:
Calculation to determine what The direct materials usage variance for last month was:
Material usage variance =( Direct materials pounds - Direct materials units) * Actual quantity purchased
Let plug in the formula
Material usage variance= (2 pounds *900) -2,000 pounds
Material usage variance= 1,800 - 2,000
Material usage variance=200 Unfavorable
Therefore The direct materials usage variance for last month was 200 Unfavorable
