1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Scorpion4ik [409]
2 years ago
9

Suppose that the firm pays its workers $46 per day. Each unit of output sells for $12. How many workers should the firm hire

Business
1 answer:
Korolek [52]2 years ago
8 0

Solution :

A firm hires labor till a point where the cost of hiring is equal to the value of the additional revenue it produces.

We know ,

the wage rate = cos of hiring an additional worker

the value of the additional revenue that the firm produces = price x (MPI) marginal product of the labor.

Therefore, the firm will hire when :

Wage = value of the additional revenue it generates

Thus, wage = price  x (MPI) marginal product of the labor ...........(i)

Therefore, given :

wage of a worker = $ 45

Price = $ 12

So, 45 = 12 x MPI

MPI = 3.8

So the marginal product of employing three days of labor = 25-18/4-3 = 7

Marginal product of employing four days of labor = 30-25/4-3 = 5

So the 4th day produces less revenue than the cost that it generates.

So, the firm should hire 3 workers.

You might be interested in
Rina and Musashi are married, under the age of 65, and have four children under the age of 18. Musashi works full time and earns
Ipatiy [6.2K]

Answer: Not at all

Explanation:

5 0
3 years ago
Were Social Security and Medicare the largest contributors of revenue for the federal government in Fiscal Year 2019? Explain.(1
Bingel [31]

It is false because the individual income taxes contributed about $1.718 trillion in Fiscal Year 2019 while Social Security and Medicare taxes only contributed $1.242 trillion.

<h3>What is an Income tax?</h3>

These are tax imposed on earned income by people in a country while the Social Security and Medicare taxes are imposed on people income while working as well.

However, the individual income taxes contributed about $1.718 trillion in Fiscal Year 2019 while Social Security and Medicare taxes only contributed $1.242 trillion.

Therefore, the Option C is correct.

Read more about Income tax

<em>brainly.com/question/26316390</em>

#SPJ2

5 0
2 years ago
Read 2 more answers
A company had inventory on November 1 of 5 units at a cost of $20 each. On November 2, they purchased 10 units at $22 each. On N
elixir [45]

Answer: A $304

Explanation: LIFO means last in first out. It means it is the older inventory that is sold off first.

On November 1, total value of inventory = $20 × 5 =$100

On November 2, total value of inventory = $100 + ( $22 × 10) = $320

On November 6, total value of inventory = $320 +($25×6) = $470

On November 8, 8 units of inventory was sold. This would be taken from the older stock of inventory. These inventories are the those from November 1 and 2.

The remaining inventory after the sale = (7 × 22) + 150 = $304

6 0
3 years ago
A corporation has the following account balances: Common Stock, $1 par value, $80,000; Paid-in Capital in Excess of Par Value, $
Nitella [24]

Answer:

b. number of shares issued is 80,000

Explanation:

In the question, the common stock par value and the total amount is given. Moreover, paid-in capital is also given.

So, if we compute it, then it gives the number of shares issued because it contains a formula which is shown below:

Number of shares issued = (Common stock ÷ Par value)

= ($80,000 ÷ $1)

= 80,000 shares

So, paid-in capital is not relevant in the computation part, and therefore, the other options are wrong except b. option.

7 0
3 years ago
What costs more to be USED, coal or solar power/panels?
LuckyWell [14K]

Solar power panels.

7 0
3 years ago
Other questions:
  • Muldoon Advertising has an opening balance in its supplies account of $2,400 and purchases $3,000 of supplies during the year. A
    15·1 answer
  • The following information pertains to Blossom Company.
    12·1 answer
  • If an owner of a copy center is interested in knowing which of her employees can make the most copies in one hour, she wants to
    9·2 answers
  • During project executing, a team member comes to the project manager because he is not sure what work he needs to accomplish on
    9·1 answer
  • What part of the cover letter explains how the applicant's qualifications meet the needs of the company?
    13·2 answers
  • Problems and Applications Q4 Suppose that the government imposes a tax on heating oil. True or False: The deadweight loss from t
    9·1 answer
  • Which of the following is a true statement?
    14·1 answer
  • In the context of globalization and ethical obligations of mncs, the offshoring of highly technical jobs can also result in the
    13·1 answer
  • hui er hires a contractor to remodel her kitchen while she is gone on vacation. in spite of the contractor's promise to do high-
    15·1 answer
  • True or false: banks keep a portion of their reserves in their own vaults.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!