Answer:
2 hours of labor
Explanation:
Labor is hired up to a point where the marginal product of labor * Price of the output = wage of the worker.
Thus, 35 * 10 = 350.
35 widgets are produced using 2 hours of labor.
<span>C. Not being able to spend that $100 on some furniture for your house</span>
Answer:
Total consumer surplus is $12
Explanation:
Consumer surplus can be defined as the difference between what the consumer is willing to pay for a particular product and its market price.
Given:
Market price of product is $5
Consumer's willingness to pay for 1st unit = $12
Consumer surplus of first customer = 12-5 = $7
Consumer's willingness to pay for 2nd unit = $8
Consumer surplus of second customer = 8-5 = $3
Consumer's willingness to pay for 3rd unit = $7
Consumer surplus of first customer = 7-5 = $2
Total consumer surplus = 7+3+2
= $12
Answer:
Shirly would be suitable for the following races; law, public safety and security.
Explanation:
the careers of law, public safety and security, are those that describe the characteristics that Shirly presented in his evaluation, since they reflect the qualities of justice, security and good physical condition to face risk situations, and that all of them They are aimed at the common good of the people around them.