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luda_lava [24]
2 years ago
5

Suppose that labor is the only variable input to the production process. If the marginal cost of production is diminishing as mo

re units of output are​ produced, what can you say about the marginal product of​ labor? If the marginal cost of production is diminishing as more units of output are​ produced, then the marginal product of labor
Business
1 answer:
attashe74 [19]2 years ago
8 0

Answer:

Marginal product will increase.

Explanation:

Since the labor is only variable input and the marginal cost of production is diminishing that means the cost of producing additional unit is lower. So marginal product of labor will be increasing.

Moreover, MC = w /MPL

Thus, diminishing marginal cost will exhibit increasing marginal product of labor.

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Jose and Zola want to purchase their first home. Jose makes $23.50 an hour and works 40 hours per week. Zola makes $21.50 an hou
vovangra [49]

Answer:

$1,411.25

Explanation:

The computation of the combined gross monthly income is shown below:

The earnings of Jose = $23.50 × 40 hours = $940

And, the earnings of Zola is

= $21.50 × 40 hours + 5 hours × $21.50

= $860 + $161.25

The total earnings is

= $940 + $860 + $161.25

= $1,961.25

And, the expenses are

= $500 + $50

= $550

So the combined gross monthly income is

= $1,961.25 - $550

= $1,411.25

7 0
3 years ago
A labor contract provides for a first-year wage of $15 per hour, and specifies that the real wage will rise by 2 percent in the
eduard

Answer:

$17.9469

Explanation:

Calculation for what dollar wage must be paid in the third year

Since the first year is tend to be the base year in which the real wage and nominal wage are both $15 per hour in that year.

The real wage is suppose to increase by 2 percent in the second year which means that the real wage in year two will be $15.30 ($15 * 1.02) per hour.

In a situation where the real wage was supposed to also increase by 2 percent in the third year, this means that the real wage in year three will be $15.606 ($15.3 * 1.02) per hour.

Therefore In order for us to find the nominal wage in third year , we have to index the real wage in order for it to adjust for inflation. Thus the nominal wage in third year will be $17.9469($15.606 * 1.15).

Therefore what dollar wage must be paid in the third year will be $17.9469

3 0
3 years ago
What is a marketing strategy in which the focus is on small but profitable market segments?
Goryan [66]

Niche marketing strategy is a marketing strategy in which the focus is on small but profitable market segments.

Niche marketing is defined as the strategy of channelizing  all the marketing efforts towards one well-defined segment of the population. There is one important thing to understand that ‘niche’ does not exist, but  it is created by a smart marketing technique and identifying what the customer wants.

This can be done if the company knows what the customer needs and then tries to deliver a better solution to a problem which was not presented by other firms. A niche market does not mean a small market, but it involves specific target audience with a specialized offering.

To know more about niche marketing here:

brainly.com/question/27940470

#SPJ4

3 0
1 year ago
Future Ways Manufacturing has the following direct materials price list for gadgets: Motor, 1 per gadget: $84.79 Casing, 1 per g
r-ruslan [8.4K]

$2.85 is the standard fixed manufacturing overhead cost per gadget

<h3>What is manufacturing ?</h3>

Manufacturing is the process of creating or producing goods using equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of the economy's secondary sector.

The Manufacturing Principles are a set of elements shared by all manufacturing industries that revolve around the concepts of flow and variation. These principles have emerged as a result of close collaboration with the manufacturing industries at both the research and operational levels.

A wide range of complex chemical or biological processes are used in the production of API. API synthesis from raw materials necessitates multi-step procedures involving a variety of high-tech processing technologies.

To know more about manufacturing  follow the link:

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3 0
10 months ago
Why should you memorize your social security number rather then carry your social security card in your wallet? Explain why you
kakasveta [241]

Answer:

Hmm.

Explanation:

  • Why should you memorize your social security number rather than carry your social security card in your wallet?

One big reason why you should NOT carry your social security number on you is that you could get robbed at ANY moment. And if someone has your Social security number, then they could slander your name.

  • Explain why you will need to provide your social security number to employers.

You will need to provide your social security number to employers because they need to make sure that you are you.

<em>'Why do employers need my social security number? If an employer decides to extend you an offer, they will eventually need your social security number to verify your identity and work authorization and perhaps to complete a background check. However, they don't need it in the initial hiring phase.'</em>

4 0
3 years ago
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