The answer is normative commitment as this is a type of
commitment in which an individual acquires because he or she feels a sense of
obligation of having to be committed and to stay in which is seen in the
scenario above as the person stays because of his obligation.
Answer:
demand fuction: Q= 54,000 - 3,000p
Explanation:
A linear function is represented as: y = a + bx
in this case: Q = a -bp
Using the line cross two point formula we got b:
then we solve for a
33,000 = a -3000 x 8
33,000 = a - 24,000
54,000 = a
demand fuction: Q= 54,000 - 3,000p
Answer:
marginal product of the third worker is 9.
Explanation:
Marginal product is the change in total product of labour as a result of increase labour by one unit
Marginal product = change in total product / change in labour
marginal product of third worker = (18 - 9) / (3 - 2) = 9
Total product is the sum of each individual total product = 24 + 18 + 9 = 51
Average product = total product /3 = 51 / 3 = 17
Answer: The correct answer is <u>"C. value of the marginal product of labor is equal to the wage."</u>
Explanation:
Assuming that a company operates in a market of perfect competition and that maximizes profits, this company will hire workers to the point where the value of the marginal product of labor is equal to the wage, <u>because it is the point at which the costs of having an additional worker do not exceed the benefits of his incorporation.</u>
Answer:
Yess, the broker tell the landlord about the financial situation of the tenant.
Explanation:
The reason is that the broker acts as an agent and its agent's fiduciary duty to act in the best interest of its principle. The duty of care owed by the agents to principle must not be breached because the breach of duty of care would affect the principle in the form of financial or non financial loss or losses. As the tenant is financially strugling to meet his both ends and that the rent is significantly high. The chances exist that the tenant will not be able to pay rentals in the near future which will affect the landlord. Hence the broker must tell the landlord about the tenant's financial position.