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creativ13 [48]
3 years ago
13

A firm uses 80 hours of labor and 6 units of capital to produce​ 10,000 gadgets per day.​ Labor's marginal product is 4 gadgets

per hour and the marginal product of capital is 20 gadgets per unit. Each unit of labor costs​ $8 per hour and each unit of capital costs​ $50 per unit. If the firm wants to continue producing​ 10,000 gadgets per day at the lowest possible​ cost, it should
Business
1 answer:
Andreas93 [3]3 years ago
5 0

Answer:

Use more labor and fewer capital.

Explanation:

Given that,

For producing 10,000 gadgets,

Labor hours use = 80

Capital = 6 units

Marginal product of labor = 4 gadgets per hour

Marginal product of capital = 20 gadgets per unit

Cost of each unit of labor = $8 per hour

Cost of each unit of capital = $50 per unit

Therefore,

Marginal product per dollar for labor is as follows:

\frac{MP_{L} }{w} =\frac{4}{8}

        = 0.5

Marginal product per dollar for capital is as follows:

\frac{MP_{k} }{r} =\frac{20}{50}

        = 0.4

Hence, the marginal product per dollar for labor is greater than the marginal product per dollar for capital, which means that the firm should use more labor and fewer capital.

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Answer:

Expectancy theory

Explanation:

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So because of her expectations that manager must recognise that:

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3 years ago
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Answer:

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3 years ago
annual gross potential rental income from a property minus expenses (vacancy and collection losses, operating expenses, replacem
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Annual gross potential rental income from a property minus expenses (vacancy and collection losses, operating expenses, replacement reserves, property taxes, and property and liability insurance) equals Effective gross income . This is further explained below.

<h3>What is Effective gross income?</h3>

Generally, Effective gross incomeis simply defined as the total effective gross revenue equals potential gross income less vacancy and collection losses + other income.

In conclusion, Potential gross revenue minus vacancy and collection losses, plus other income, is equivalent to effective gross income.

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Answer:

$14.42

Explanation:

Please kindly check attachment for the step by step solution of the given problem.

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