Answer: The hourly wage will be higher in occupation B.
Explanation:
From the information given in the question, workers in occupations A and B possess the same skills and abilities as work for the same number of hours. The difference between both occupations is that there is stability of employment for workers in occupation A while there are seasonal layoffs in occupation B.
Due to the seasonal changes in occupation B, the hourly wage will be higher in occupation B. Workers in occupation B need to be compensated in order to overcome the layoffs and uncertainties.
Marginal revenue is defined as the amount that you gained after selling all your units at a certain price. Revenue is different from profit, because profit has to incorporate the expenses incurred in order to produce the product. For total revenue, that would just represent the total sales of a firm or company. However, marginal revenue is the additional cost a consumer has to pay when he acquires an additional unit of the product. Thus, marginal revenue is the change of sales per unit product.
Marginal Revenue = ΔRevenue/ΔNumber of units
Marginal Revenue = [21($9.75) - 20($10)]/(21-20)
Marginal Revenue = $4.75 per unit
Answer: decrease in expected income
Explanation:
The Great Depression began due to the crash of the stock market in 1929 which caused fear and millions of investors lost their businesses.
This led to the reduction in consumer spending. Also, there was a reduction in investment which caused industrial output decline and decrease in employment opportunities.
Answer:
Determining that smartphone apps and social media aps are important parts of a bank's future plans to reach young consumers. ⇒ <u>New Product Strategy.</u>
Tweeting out the availability of a new smartphone app that helps young professionals manage their financial lives better. ⇒ <u>Product launch.</u>
Inviting younger "fans" of the bank's social media sites to have a free trial of the new smartphone app. ⇒ <u>Test marketing. </u>
Having a Faceb-ook discussion with consumers on what they would ideally like to have from a bank smartphone app. ⇒<u> Idea generation.</u>
Creating a prototype of the smartphone app. ⇒<u> Product development. </u>
<u></u>
Using Tw-itter to ask followers what they are willing to pay for smartphone apps. ⇒ <u>Business analysis. </u>
Developing a social media site that allows college students to review and provide feedback on new product ideas. ⇒<u> Idea screening. </u>
