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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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The federal reserve can increase the money supply by buying bonds. true or false?
marusya05 [52]

TRUE. If the Fed wants to increase the money supply, it can do so by buying government bonds and if it wants to reduce the money supply it can do so by selling bonds from its account

3 0
4 years ago
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The step of making a tentative plan in the troop-leading procedure usually has six steps. what is step six?
vladimir1956 [14]
Step six is to complete the plan.

The basic six steps are:
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It is also advisable to follow the 6 steps by two additional steps which are:
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5 0
3 years ago
When milk prices increased in 2008, one milk consumer stated that the reason he cut down on milk consumption is so that he could
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4 0
4 years ago
The difference between the actual quantity and the standard quantity, multiplied by the standard price, is the:
miss Akunina [59]

Answer:

the material quantity variance

Explanation:

As we know that

Material quantity variance is

= (Standard quantity - actual quantity) × standard price

This represent that the difference between the standard quantity and the actual quantity should be multiplied with the standard price is known as the material quantity variance

Therefore as per the given situation, the material quantity variance is the answer

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6 0
3 years ago
If the supply of loanable funds shifts to the right, then the equilibrium interest ratea. and quantity of loanable funds risesb.
Amanda [17]

Answer:

Option (d) is correct.

Explanation:

When the supply of loanable funds increases and this change in loanable funds shifts the supply curve of loanable funds rightwards then as a result the equilibrium interest falls and the quantity of loanable funds increases.

In this situation, the supply of loanable funds exceeds the demand for loanable funds, so the financial institutions would provide funds at a lower interest rate to the borrowers.

Fall in the interest rate would induce borrowers to take loan at a cheaper rate.

7 0
3 years ago
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