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Ivan
3 years ago
9

Complete the following table by selecting the term that matches each definition on the left.

Business
1 answer:
Elanso [62]3 years ago
8 0

Answer:

The correct answers are the following:

1 - C

2 - B

3 - D

4 - A

Explanation:

1 - C: The market labor demand curve is represented graphically by the relationship between the wage rate and the quantity of labor firms are willing to hire in a market due to the fact that the firms are the ones who are looking for workers and therefore they demand it.

2 - B: The market labor supply curve is represented graphically by the relationship between the wage rate and the quantity of labor that the workers are willing to provide due to the fact that they are the one who put their work in the market in order to be used.

3 - D: The marginal product of labor represents the increase in the amount of output from an additional unit of labor that an additional worker puts in the firm.

4 - A: The value of the marginal product of labor comprehends the additional revenue the firm receives from selling the output produced from and additional unit of labor that an additional worker put in the firm.

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A manufacturer is contemplating a switch from buying to producing a certain item. Setup cost would be the same as ordering cost.
Luden [163]

Answer:

c. 30 percent lower.

Explanation:

Since the manufacturer is contemplating a switch from buying to producing a certain item while setup cost would be the same as ordering cost, the production rate would be about double the usage rate.

Compared to the Economic Order Quantity (EOQ), the maximum inventory would be approximately 30 percent lower under Economic Production Quantity (EPQ), and higher under EOQ.

5 0
3 years ago
If the rate of inflation is 2.2% per year, the future price pt (in dollars) of a certain item can be modeled by the following ex
postnew [5]

Answer:

1693.25

Explanation:

The computation of the current price of the item and the price 9 years from today is shown below:-

p(t) = 1,200 × (1.039)^t

Now, the current price can be found by putting t = 0

p(0) is

1,200\times (1.039)^0 = $1,200

The price 10 years from today

p(9) is

1,200\times (1.039)^9

Now we will solve the above equation

= 1,200 × 1.411041958

= 1693.25035

or

= 1693.25

6 0
3 years ago
Which is not a secondary consideration when locating a retail store
Maslowich

The answer is "access to good schools".

A retail store is a position of business normally claimed and worked by a retailer yet now and again possessed and worked by a producer or by somebody other than a retailer in which stock is sold fundamentally to ultimate customers. Good schools are something which cannot have secondary consideration.

5 0
3 years ago
A company is deciding if it should design an advertising system for use on Twitter©. The first option is to skip out on designin
Vladimir79 [104]

Answer:

SYSTEM A

Explanation:

Given the following :

First option :

Skip design = No net gain or loss

System A:

Additional sales of $50,000 under good condition

Additional sales of $10,000 under bad condition

System B:

Increase sale by $20,000 under both good and bad condition

Cost of system development = $25,000

Good condition are twice as likely to occur as bad condition

Hence, we have : good, good, bad

Probability of good = 2/3 = 0.667

Probability of bad = 1/3 = 0.333

We can calculate the Expected monetary Value of the three options :

First option:

Skip design : Expected monetary Value = $0

Second option (SYSTEM A) :

Profit from good condition :

Additional sales - system cost = ($50,000 - $25,000) =$25, 000

Loss from bad condition :

($25,000 - $10,000) = - $15,000

Expected monetary value:

(0.667 * 25000) + (0.33 * - 15000)

$16675 - $4950

= $11,680

Third option (SYSTEM B) :

Additional sales - system cost

$20,000 - $25,000 = - $5,000

From the expected monetary value obtained for the three options, System A is the best option with $11,680

4 0
3 years ago
A homeowner paid $85,000 for a house three years ago. The house sells today for $110,000. How much has the property appreciated?
Dima020 [189]

Answer:

Option (a) is correct.

Explanation:

Amount paid for house three years ago = $85,000

Selling price of house today = $110,000

Therefore,

Property appreciated by following percentage:

= (change in value ÷ Amount paid for house three years ago) × 100

= [($110,000 - $85,000) ÷ $85,000] × 100

= ($25,000 ÷ $85,000) × 100

= 0.2941 × 100

= 29.41%

6 0
3 years ago
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