1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
For a contract to be ________ it must meet the requirement of _______, and both the subject matter and the performance of the co
Alecsey [184]

enforceable, legality

For a contract to be enforceable it must meet the requirement of legality and both the subject matter and the performance of the contract must be legal

An agreement to be a contract must establish a duty that is enforceable by law by the provisions of contract laws. Any arrangement that does not provide for enforceability—that is, one in which the parties cannot seek redress in court for breach of the agreement s not a contract. To create legality in a relationship, the contract must have intent. It happens when the parties are aware that each of them is responsible for the contract's failure if they fail to keep their part of the contract.
To learn more about enforceable and legality please refer to -brainly.com/question/13309532
#SPJ4

7 0
2 years ago
QUESTION 4 / 10
Umnica [9.8K]

Answer:

C. The longer you use credit responsibly, the higher your

credit score will be.

Explanation:

A credit card allows its user to access a short term loan. Every payment made via a credit card is considered a loan. The loan attracts interest monthly. Defaulting on credit card payments is similar to defaulting on any other loan type.

Responsible use of a credit card entails using it only when necessary. It means making prompt payments to clear monthly bills.

Credit card history is important information when tabulating an individual's credit score.  Anyone who uses their credit card responsibly ends up with a good credit score.

3 0
3 years ago
When an entrepreneur has three employees at a busy and growing software company, what is the primary responsibility of 1
Finger [1]

Answer:

manage the business by finding new customers and investors

Explanation:

Out of the available options, this one would be the best possible answer. But in my opinion it is not the best answer. The entrepreneur is responsible for developing a product or service that can be sold to as many customers as possible. Without the main product or service, the entrepreneur has nothing. After he/she has developed or created his product or service, then the entrepreneur must go out and find customers and investors.

For e.g. Mark Zuckerberg had to develop FB before finding investors or even having any people use it. The same applies to all time genius Steve Jobs who needed to finish the Apple 1 before it could be sold.

After the product or service is ready probably comes the hardest part which is to get enough money to get your project running and get people to use it.

All the other options are important parts of owning a business, e.g. arriving early in the morning (develops a proper work culture) or training employees, but they are not the primary responsibility.

6 0
4 years ago
Read 2 more answers
Number line shows the best estimation for the sum of 3,282 and 5,964?
BARSIC [14]
The best estimation is 9,000
3 0
4 years ago
The main source for recruiting members into the FBLA is through school guidance counselors and teachers.
Mama L [17]

Answer:

That statement is false.

Explanation:

FBLA stands for Future Business Leaders of America. It's an organization that was created to focus on preparing its members for future careers / leaderships position.

Currently, the FBLA recruited most of its members through a campaign that they personally do in campuses. They sent out  design posters, flyers, banners, and other advertisement medium to spread awareness of their group/.

6 0
3 years ago
Other questions:
  • Aldo Redondo drives his own car on company business. His employer reimburses him for such travel at the rate of 36 cents per mil
    9·1 answer
  • We live in a democratic and capitalistic society. Our fundamental freedoms include the freedom to pursue happiness, just like th
    10·2 answers
  • You are trying to decide what you want to major in during your college years. How should you go about making the decision?
    5·2 answers
  • ou have a $4 million portfolio consisting of a $100,000 investment in each of 20 different stocks. The portfolio has a beta of 1
    9·1 answer
  • Brown Office Supplies recently reported $15,500 of sales, $8,250 of operating costs other than depreciation, and $1,750 of depre
    12·1 answer
  • Different customer statement types are available to suit different client situations. Heather wants to help her client send out
    12·1 answer
  • What type of wave is sound?
    6·2 answers
  • What is the expected constant growth rate of dividends for a stock currently priced at Php 50, that is expected to pay a dividen
    8·1 answer
  • When prices are sticky in the short-run, the economy is forced to respond to shocks in the economy with changes in:
    5·1 answer
  • 1. The current exchange rate between the Japanese Yen and the US Dollars is 80:1. If a new
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!