Even when competitive firms are unable to calculate marginal revenue product directly, the pressures of competition in the labor market will push wage rates toward the marginal revenue product of labor.
By comparing the marginal revenue<span> and </span>marginal<span> cost from each unit produced, a </span>firm<span> in a </span>competitive<span> market can </span>determine<span> the </span>profit<span>-maximizing level of production.</span>
Answer:
Explanation:
Given:
- $12,000 loan => P = 12000
- Annual interest rate of 12.50 percent => r = 12.5%
- Four-year simple-ineterest installment loan => n= 4 years = 12*4 =48 months
So monthly payment = =
and the total interest will you pay over the four years = 4*12000*12.15% = 583.2
APR—Annual Percentage Rate = Interest rates are usually given as an annual percentage rate (APR)—the total interest that will be paid in the year. If the interest is paid in smaller time increments, the APR will be divided up.
Here is is 12.15%
Answer:
False
Explanation:
It is not necessary that the price shall be related to market value, rather an effective deal would be to offer the product at a price which is identified to be lower than the market value.
Anything which is at market value is not a deal unless it is paired with some other benefits not offered in the general market. Accordingly from the consumer point of view anything which has a good utility to consumer and is bought below the market price is a great and effective deal.
Therefore, the statement is false.
Answer: Profitably fill unused capacity by using complex mathematical systems.
Explanation:
Yield Management refers to an revenue management style that aims to draw out as much profit for the company from a fixed resource or inventory. It aims to sell the right product at the best price to the a customer at the rightful time it is required.
By employing complex mathematical systems that enable it to fill up unused capacity such as by selling goods early at a discount and then limiting those early sales so that the later sales may be sold at normal price, Yield Management Systems make unused capacities profitable.