Answer:
10 tabletops
Explanation:
Given that her basic weekly income is $300
Hence for her to meet are target of $1000 she has to work for the extra $700 since $300 is guaranteed
If one completed table top earn her $75
Hence she must complete 10 table tops to earn $750
Total earning = 750+300= $1050
Answer:
Allocative efficiency is about distributing or allocating resources in the best possible manner. E.g. in order to fight the current pandemic, more resources ($) is allocated to different health care institutions.
Productive efficiency is about how a company or a person uses the resources that it has in order to produce the greatest amount of benefits at the lowest possible cost. E.g. in a hospital, if a doctor is able to treat 15 patients per day, his/her productive efficiency will be higher than another doctor that only treats 10 patients per day.
Answer: inefficient allocation of sales among sellers
Explanation:
A binding price ceiling is one in which the government imposes a legal minimum price that can be charged for a good, when the equilibrium price is below it. The ceiling creates a shortage in the market which leads to illegal activities, wasted resources and inefficient allocation to consumers.
However, it does not lead to inefficient allocation of sales among sellers.
<h2>
10 workers would cause the marginal to exceed the marginal benefits.</h2>
Explanation:
- Let us understand the term "Marginal benefits".
- It is the additional amount that the consumer "willing to pay" for an additional goods or a service.
- In terms of producers, the marginal benefit is termed as marginal revenue.
- Here according to the situation given in the question as to how many workers to hire could be answered by the number 10.
- Marginal revenue always falls below marginal cost.
- It is the revenue that the organization receives for selling one additional unit.
<span>a narrow span of management implies that the height of the organization will be long; a wide span of management implies that the height of the organization will be short.
This is because in a narrow span of management, less people work under each manager and therefore, there will be more levels of hierarchy making the height of the organization longer and the vice versa applies.
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