Answer:
Marginal Product:
The marginal product of an input that is being used in the production process of a good or services is the extra output generated by using the extra unit of that input. Alternatively, the marginal product is the output generated by the last unit of the input added only.
Explanation:
- Diminishing marginal returns means that as you adds more units of that input, the marginal product declines. That is, each additional of extra unit of the input results in decreased and less additional output. For example, the marginal product of labor usually decreases as the amount of labor increases because there is a fixed amount of capital used in the short run, so when labor increases, the capital per unit of labor decreases, which results in each and every extra working being less productive than the previous one.
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Dis-economies of scale, whereas, results in an increase in the average cost of production as the number of units increases. That's why diminishing marginal returns refers to production, and dis-economies of scale refers to the average cost. Dis-economies of scale often happened because the production levels get high, there is less management on each employee, resulting in each employee having less motivation to work as hard due to lack of production making it hard to notice that change.So, it may results in the average worker's productivity decreasing, causing the per-unit cost to rise.
Answer:
$22,500
Explanation:
KL Corp
Cash ($15×$10,000 85%) $127,500
Compensation expenses ($15×$10,000×15%) $22,500
Common stock ($15×$10,000) $150,000
Therefore KL will record compensation expense associated with the May purchases of $22,500
Goods sold is lower because less competition and then they price it higher because consumers don't have options.
Answer:
The correct answer is A
Explanation:
Economic growth is defined as the rise in the capacity of the economy for producing or manufacturing the goods and services as compared from one year to another.
And the economic growth is determined in terms of GNP (Gross National Product) or in terms of GDP (Gross Domestic Product).
So, if the nation want to accomplish the higher level of economic growth, then the nation should devote more amount of resources in R & D (research and development).
Answer:
Presentation
Explanation:
There are six steps in making a successful sale. The first step is prospecting and Qualifying and the last one is following up on the sale.
Personal selling is the sale in which the seller makes a face to face presentation to the customer. Sales jobs range from the salespeople at the clothing stores to the engineers with MBA's who design complex systems for the manufacturers. The importance of personal selling is that it provides a detailed explanation of the product and the sales message can be varied as per the interests of the prospective customer. The size of the personal sales force can be varied as per the needs. In the above question, the salesperson responds to new requests of the customer, which is an important part of personal selling.
