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3 years ago

A perfectly competitive firm will hire workers up to the quantity at which the wage rate equals the:_________.

Business

1 answer:

Lina20 [59]3 years ago

7 0

Answer:

marginal revenue product.

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.

In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.

A perfectly competitive firm will hire workers up to the quantity at which marginal cost of labor equals marginal revenue

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A. what is the gdp per capita of longhornland in u.s. dollars? (express your answer rounded to one decimal place.)

Luden [163]

Per capita GDP<span> is a measure of the total income of a country GDP (gross domestic product) divided by the number of people in the country.</span>

Longhornland is an imaginary country but given the following data:

GDP (2429 millions US Dollars)

Population (129 millions people)

<span>GDP per capita = 18.8 millions US Dollars</span>

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3 years ago

Mark follows certain steps to access the supplementary readings for a course when using his organization's library management sy

andreev551 [17]

Answer:

product

Explanation:

Process management components of a library management system include rules, instructions, and guides on how to perform tasks on the system.
This is similar to the manual for electronic products, with detailed instructions on how to use the product effectively.

so correct answer is product

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3 years ago

Which of the following reflects the purchasing power of wages when adjusted for inflation? A. Real hourly compensation B. Direc

Brut [27]

Answer:

B. Direct financial compensation

Explanation:

When adjusted for inflation the normal wage paid is increased from its existing level to some percentage level similar to inflation level, to meet the inflation in market.

This can be clearly measured as from the actual payment made to the workers which shall include the direct financial compensation paid to the employees. This is because to calculate how much a worker can purchase during inflation is, actually what is the value of money in his hands during inflation, basically the utility.

Therefore, the correct option is:

Direct Financial Compensation.

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3 years ago

Which of the following is the most appropriate definition of a core capability?A set of products unique to a firm.Technical capa

kaheart [24]

Answer:

the right answer is, A set of products unique to a firm

Explanation:

because the central capacity of a company are all those strengths with which it has to create competitive advantage

6 0

3 years ago

In general, ________ refers to the corporate-level strategy of expanding a company’s business operations into a new industry in

melomori [17]

Answer:

Diversification

Explanation:

Diversification occurs when business expands its operations to include new product and service offerings different from what the company produces initially.

At the government level, diversification occurs when government authorities develop other sectors just to increase revenue. For example many developing countries are commodity dependent economies (Angola is heavily dependent on oil export to generate revenue). To diversify, the government may want to develop the agricultural and services sectors of their economy to earn more revenue.

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3 years ago