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Nataly_w [17]
3 years ago
12

The law of diminishing returns states that as additional increments of resources ______________, the marginal benefit from those

additional increments _______________. Select the correct answer below: are reduced, will decline eventually are added; will decline eventually are added; will increase eventually are reduced; will remain the same
Business
1 answer:
const2013 [10]3 years ago
4 0

Answer:

are added; will decline eventually

Explanation:

the point of diminishing returns sets in when the optimum capacity has been attained. at this level, increasing production by any extra unit would only bring about little or Fall in output.

if we hold the other factors of production constant/fixed while increasing one input, we will get toa stage where more additions of this input by one unit would only bring about decrease in output or cause output to fall.

therefore in summary this law States that as more increments are added, marginal benefit from increments declines eventually.

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Technology can either shift the labor demand to the right or to the left, depending on its effect on the marginal product of lab
zavuch27 [327]

Answer:

If we find out that technology has shifted the labor demand to the left, this is a disadvantage to labor.

Explanation:

To begin with, It's important to properly understand the concept of Marginal Product of Labour.

In simple terms, marginal product of labor is basically the change in unit output occasioned by a unit change in labor. There are a number of factors that may cause a marginal change in labor. Suffix to say, marginal change can either be to the right or to the left.

To narrow it down, we have technology to consider as one of the factors that ensue marginal change. Even more, this change can either be to the right or left. That is, an increase in technology might result to an increase in unit labour - this is to the right. And this is beneficial or advantageous to labor. In same vein, a increase in technology might result to a decrease in unit labour - this is to the left. And this is disadvantageous to labor.

It's on established record that introduction of new technologies, procedures and processes often have a direct effect on an individual employee. This altogether affects the marginal product in labour.

Hence, when technology brings changes to the left, this is a disadvantage to labour, as there is possibly a downsizing or reduction in labor strengths occasioned by the new technologies.

4 0
3 years ago
Read 2 more answers
Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows.
qwelly [4]

Answer:

<u>Cost of goods manufactured schedule for Case1</u>

Opening Work In Process                  $1,000

Add Total Manufacturing Costs       $16,000

Less Ending Work In Process          ($3,000)

Cost of goods manufactured           $14,000

<u>Income statement for Case 1</u>

Sales                                                                                              $24,500

Less Sales discounts                                                                     ($2,500)

Net Sales Revenue                                                                       $22,000

Less Cost of Goods Sold

Beginning Finished Goods Inventory                 $3,300

Add Cost of goods manufactured                     $14,000

Less Ending Finished Goods Inventory            ($3,400)          ($13,900)

Gross Profit                                                                                     $8,100

Less Operating expenses                                                           ($2,500)

Net Income                                                                                    $2,500

<u>Current assets section :</u>

Inventory :

    Raw Materials                                      $600

    Work In Process                               $3,000

    Finished Goods                                $3,400

Receivables (net)                                 $15,000

Prepaid Expenses                                    $400

Cash                                                      $4,000

Total Current Assets                          $26,400

Explanation:

Part b

Cost of Goods Manufactured = Opening Work In Process + Total Manufacturing Costs - Ending Work In Process

Part c

Income statement shows the Profit earned during the reporting period

Profit = Gross Profit - Operating expenses

Part d

The current assets section will include assets of a short term nature (not exceeding a period of 12 months). For a manufacturing company, it is important to show each inventory balance in the inventory categories of Raw Materials, Work In Process and Finished Goods among other items.

Note : Current Assets are shown in their order of liquidity in the Balance Sheet as above.

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To help fund his start-up business, Marc charged $400 worth of goods on his credit card. On his first bill, he was not charged a
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Answer:

$7.96

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the second month's principal balance = $380 (carried over) + $18 (second purchase) = $398

the interest charged on the second month's principal = $398 x 2% = $7.96

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