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Andrei [34K]
3 years ago
8

Suppose there is perfect competition in the output market and the labor market and that the output price is $10 and the wage is

$350 per hour. In this case, the demand for labor by the firm equals _____ hours.
Business
1 answer:
Pani-rosa [81]3 years ago
4 0

Answer:

2 hours of labor

Explanation:

Labor is hired up to a point where the marginal product of labor * Price of the output = wage of the worker.

Thus, 35 * 10 = 350.

35 widgets are produced using 2 hours of labor.

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17. Functions of a business. Name and explain
ivanzaharov [21]

Answer:

Glossary

Explanation:

Business functions are the activities carried out by an enterprise; they can be divided into core functions and support functions

7 0
3 years ago
Tobiaz, inc., a private firm, wants to create a survey program similar to the Uniform Crime Reporting Program/National incident-
olchik [2.2K]

Answer:

C, they analyze police reports about crimes reported by victims

Explanation:

Option A is wrong because is disregard hard crimes that conducted by blue-collar people (such as theft, store robbery, or even gang attacks).

Option B and D are wrong because 'Potential' victims do not always translate to actual victims, This will make the data that collected by the firm become misleading. They wouldn't find out the type of crimes that often happen in real life and wouldn't be able to design a proper solution for them.

Option C is the best choice from the available options. Even though it's not perfect. There are a lot of crimes that often goes unreported by the victims (such as domestic abuse)

4 0
3 years ago
Manila Water, the provider of the water and sewerage services in the capital of the Philippines has purchased the government-own
BabaBlast [244]

Answer:

Planning

Explanation:

Planning can be defined as what is needed and required to achieve a desired goal because PLANNING is the first and foremost activity often needed to achieve a desired goal or results reason been that PLANNING involves the creation as well as the maintenance of a plan and it helps to achieve objectives which is why every organization or company always has certain objectives in which they keep on working hard to fulfill these goals and objectives which in turn helps the organization to achieve their aims.

Therefore based on the information given about Manilla water the development, maintenance, and allocation of resources to achieve its goal will require PLANNING.

5 0
3 years ago
At UPS, a 12-step process prescribes how drivers should park their trucks, locate the package they are about to deliver, and ste
Alla [95]

Answer:

Programmed decision making

Explanation:

A programmed decision is one that is done by following already laid down rules and procedures. They are Carried out using formal patterns and the goals here are both clear and specific. These rules and routines in UPS are are a good example of how programmed decisions are done. As it can be seen on every aspect of their day to day business activities.

8 0
3 years ago
2. A welder and a carpenter decided to get out of the construction industry and build farm trailers instead. From building a few
Firlakuza [10]

Answer:

Answer is explained in the explanation section below.

Explanation:

Data Given:

Material Cost Per Trailer = $500

Material Cost plus Profit Per Trailer (15%)  = $500 + 75 = $575

Selling Price = $1000

Labor Cost Remaining Per Trailer = $425

Formula to Calculate the number of Trailers:

X = X1 (N^{S})

Where,

N = number of Trailers

S = Slope Parameter

X = $425

X1 = $700

So, First we need to find the slope parameter, in order to calculate the number of trailers to be built.

S = \frac{log \alpha }{log 2}

where, α = 0.85 rate of improvement.

Plugging in the values into the formula, we get:

S = \frac{log (0.85) }{log 2}

S = -0.234

Now, we can easily find the number of trailers.

X = X1 (N^{S})

Plugging in the values,

425 = 700 x (N^{-0.234})

Solving For N, we get:

N = 8.4 Trailers

N = 9 Trailers.

Hence, 9 Trailers must be built in order to realize this rate of profit.

8 0
2 years ago
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