If the marginal product for that employee is greater than for the previous employee hired, it must be that there are gains from specialization
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What is marginal product ?</h3>
- The marginal product or marginal physical productivity of an input (factor of production) in economics, and particularly neoclassical economics, is the change in output that results from using one more unit of a specific input (for example, the change in output when a firm's labor is increased from five to six units), assuming that the quantities of other inputs are kept constant.
- The marginal product is the mathematical derivative of the production function with respect to that input if the output and the input are infinitely divisible, in which case the marginal "units" are infinitesimal.
- When more of one input, such as labor, is used while maintaining a constant level of the other input, such as capital, the marginal product initially rises according to the "rule" of declining marginal returns.
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Why so that saying did correct answe right I don’t know the answer I am just answering to see something about my points because they are negative and I am trying something
Answer:
D) Shifts in aggregate demand are often the result of waves of pessimism or optimism among consumers and businesses.
Explanation:
The Federal Reserve (FED) can respond to excessive pessimism among consumers and businesses by expanding the money supply and lowering interest rates. To deal with excessive optimism they can do the opposite, they can shrink the money supply and increase the interest rate.
Answer: The correct answer is : c. flexible production capacity can be configured to maximize profits in the new environment.
Explanation: Starting from a fixed volume of production, a company is more flexible if it produces a larger quantity of products. Flexibility will provide the ability to have operational production lines in a defined time interval.
Answer:
Sharing Economy
Explanation:
Based on the information provided within the question it can be said that this is an example of the Sharing Economy. This term refers to a different and unique way of distributing goods and services that is different from the traditional methods or models that companies use today when dealing with hiring employees and/or selling their product. Which is what Carol and Evans are doing by developing their own software.
