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nirvana33 [79]
3 years ago
9

For a firm hiring labor in a perfectly competitive labor market, the marginal revenue product curve slopes downward after some p

oint because as more of a factor is employed, which of the following declines? Your answer: a) Marginal product b) Marginal factor cost c) Marginal cost d) Total output e) Wage rates.
Business
1 answer:
Irina-Kira [14]3 years ago
7 0

Answer:

The correct answer is option a.

Explanation:

In a perfectly competitive labor market, after some point, the marginal revenue product derived from hiring an additional worker starts declining. This causes the marginal revenue curve to slope downward after a certain point.  

This happens because of diminishing marginal returns. The law of diminishing marginal returns states that keeping other things constant if we keep increasing a variable factor, after certain the marginal returns from each additional unit will start declining.

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<span>It is important to still maintain network relationships even after you have found a job because it is useful in building career. In addition, should you decide to build your own business, your network will help you achieve success. Connection with people is the key in achieving your career and business goals. It is essential that you build and nurture it even after you are hired. </span>

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17. Which activities are associated with the acquisition and disposal of long-term assets (for example the purchase of equipment
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B) Investing Activities

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3 years ago
A(n) ________ includes a group of senior managers responsible for systems development.
Savatey [412]

A <u>steering committee</u> includes a group of senior managers responsible for system development.

A steering committee is an advisory organization that makes directional choices on various organizational initiatives. Its members at once aid project managers working in the direction of strategic enterprise directions.

Key roles and responsibilities of a steering committee: it provides recommendations on mission resource utilization, time limits, staff hiring, and advertising wishes. Manual the assignment group in accomplishing milestones in step with the challenge plan. determine average mission scope and strategic project route.

The board is made of individuals who participated on the guidance committee that created the business. The steering committee is normally composed of industry leaders inside the network that help generate assistance for the entity.

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4 0
2 years ago
Swifty Corporation's allowance for uncollectible accounts was $187500 at the end of 2017 and $180500 at the end of 2016. For the
Nostrana [21]

Answer:

The amount Swifty debited to the appropriate account in 2017 to write off actual bad debts: $25,800

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