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.
Answer: D) saving equals investment as long as NX = 0
Explanation:
The last option was incomplete as it should have said ...NX = 0.
The Income/GDP of a country that is open to international trade is calculated as follows:
Income = Consumption + Investment + Government spending + Net exports
Y = C + I + G + NX
If NX = 0 then the formula becomes:
Y = C + I + G
Investment in this scenario is therefore:
I = Y - C - G
This is the same as savings as savings is calculated by subtracting consumption and government spending from the total income. This is because government spending is derived from taxes so the cash that people get to save is their income less than their taxes and consumption expenses.
S = Y - C - G = Y
Answer: Select the correct answer, then click on Check. Statement: "This is Unit 1, we have a 10-37, Code 2." Does this statement comply with the NIMS Management Characteristic of common terminology? Yes No
Explanation:
The National Incident Management System (NIMS) establishes good practices to adopt during an emergency.
One of the elements of this system is that common terminology be used between existing facilities and emergency response bodies such as the police, emergency medical personnel etc. This is to ensure that communication is clear and easily understood without getting confused by industry specific terminology.
Answer:
B) 18
Explanation:
A Coverdell Education Saving Account accepts contributions up to the 18th birthday of the beneficiary, unless the beneficiary has "special needs" (usually some type of disability).
Coverdell ESA are very similar to a 529 plan, except that the beneficiary is the owner of the funds, not the account owner. Both accounts offer tax free earnings growth and tax free withdrawals, as long as they are used to cover qualifying educational expenses.
A company issues stock to raise money
