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
Nata [24]
3 years ago
7

You own a farm, you hire labor and capital to produce apples. The marginal product of the last unit of labor input is 15 and the

marginal product of the last unit of capital input is 45. The market wage for labor is $8. If you are using the optimal combination of inputs, then the price of capital is _______.
a. $45
b. $3
c. $24
d. $360
Business
2 answers:
torisob [31]3 years ago
6 0

Answer:

C-$24

Explanation:

At optimal combination of inputs that is at the equilibrium level the ratio of marginal productivity of labor to the marginal productivity of capital is equal to the ratio of price of labor(wage) to the price of capital(rent). That is ,

MPL/MPK = W/R

WHERE , MPL = MARGINAL PRODUCTIVITY OF LABOR

MPK = MARGINAL PRODUCTIVITY OF CAPITAL

W = WAGE

R = RENT

SO , AS GIVEN , 15/45 = 8/R

SO , R = 8*3 = $24.  

SO ANSWER IS OPTION C.$24

Bogdan [553]3 years ago
4 0

Answer:

c. $24

Explanation:

At the optimal combination, the ratio between the marginal product for the last units of capital and labor must equal the ratio between the price of capital and the price of labor.

If Labor costs $8 and has a marginal product of 15, since capital has a marginal product of 45, the price of capital is:

\frac{45}{15}=\frac{C}{\$8}\\  C=\$24

Price of capital is $24.

You might be interested in
Steve and Holly report the following items for 2020: Dividend income $16,000 Interest income 14,000 Itemized deductions (none of
lana [24]

Answer: ($4000)

Explanation:

Based on the information given in the question, the amount that must be added back to taxable income (loss) in calculating their net operating loss, will be:

Dividend income = $16000

Add: Interest income = $14000

Add: Business capital gain = $2000

Less: Business loss = $10000

Less: Itemized deduction = $26000

Taxable loss = ($16000 + $14000 + $2000) - ($10000 + $26000)

= $32000 - $36000

= - $4000

7 0
3 years ago
Forty-three percent of Americans use social media and other websites to voice their opinions about
rjkz [21]

Answer:

(a) 0.2896 (b) 0.5029 (c)0.5758 (d)In this case they are dependent  because the gender is segregated as social media user or not as asocial media worker. the probability and variable is tied to it

Explanation:

Solution

(a)In a survey of 1,364 people, 395 were females who used social media and 232 did not. of males 232 use social media and 355 did not

To make or develop a probability table, take each group and divide their number by their total for example female that use social media is 395 of a total of 1364

395/1364 =0.2896

The probability that a woman uses social media in the survey is 0.2896

so,

                                  A              B              T

Female                  0.2896       0.2133      0.5029

Male                      0.2368       0.2603     0.4971

Total                      0.5264      0.4736       1.00

(b) To find the probability  of a surveyed person being a female, we divivde the total number of females by the whole number, shown below

686/1364 = 0.5029

(c)Conditional probability is defined using the formula which is shown below:

P(A/B) = P(A∩B)/P(B)-------(1)

Where P(A∩B) is the probability of females that use social media 0.2896 and P(B) is the total female probability which is 0.5029

Now we substitute the values in the equation 1 and calculate the probability as shown below:

P(A/B) = 0.2896/0.5029 =0.5758

the conditional probability that are surveyed person is female and uses social media is 0.5758

(d) In this case they are dependent  because the gender is segregated as social media user or not as asocial media worker. the probability and variable is tied to it

3 0
3 years ago
Kroger decided to introduce a new product that appeals to Hispanic consumers. While the product is highly successful among Hispa
Leto [7]

Answer: Target market

Explanation: The target markets refers to the group of customers at which an organisation aims its marketing efforts. In simple words, it is that market in which the organisation intends to make it sale for the generation of profits.

In the given case, Kroger is introducing a product that satisfies needs and preferences of Hispanic customers specially. So we can conclude that Hispanic consumers are the target market for Kroger.

4 0
3 years ago
Sub Sandwiches of America made the following expenditures related to its restaurant.
galina1969 [7]

Answer:

1. Heating Equipment

2. Premises

3. Maintenance Expense

4. Prepaid Insurance

5. Intangible Asset ; Logo

6. Premises

Explanation:

1. Replacement of heating equipment is substantial hence it is capitalized to the Heating Equipment Account.

2. The project is capitalized to the Premises Account as it form part of premises.

3. Annual Building maintenance is a revenue expenditure not capitalized.

4. An Asset Insurance Prepaid for future economic benefits to be realized is recognized.

5. The new sign would result in inflow of economic benefit and is non-tangible hence Intangible Asset is recognized.

6. Work done is capitalized in the Premises Account

3 0
3 years ago
What are the advantages of following a strict repayment schedule? Check all that apply.
MAXImum [283]

Answer:

The correct answer are 2, 4 and 5.

Explanation:

Repayment schedule is the schedule or the document which is in detail specifying the particular terms of the loan of  borrower, like monthly payment, interest rate, due dates. The benefits or the advantage of the strict schedule of the repayment, prevent being charged from the additional or the extra fees, prevent from increasing the rate of interest and also shows or states that the borrower is responsible for this schedule.

8 0
3 years ago
Other questions:
  • The Finishing Department had 11,000 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to m
    9·1 answer
  • You are the newly assigned project manager for the James Madison construction project. To what document should you look for auth
    11·1 answer
  • Use a production possibilities frontier to describe the idea of efficiency.
    12·1 answer
  • What’s the present value of a $900 annuity payment over five years if interest rates are 8 percent? (Do not round intermediate c
    14·1 answer
  • You Had A Successful Team Meeting Where You Were Able To Prove The ROI Of Your Content Marketing Efforts. However, Your Boss Wan
    8·1 answer
  • Home Value Inc., Max Cart Inc., and Nice Necessities Inc. are three consumer-product retailing companies. Their products consist
    8·1 answer
  • Under a periodic inventory system:____________.
    14·1 answer
  • Imagine that the government decided to fund its current deficit of $431 billion dollars by issuing a perpetuity offering a 4% an
    6·1 answer
  • Suppose the government passes a law that reduces unemployment benefits in a way that causes unemployed workers to seek out new j
    6·1 answer
  • Which of the following is a service fee? an amount of money a bank charges?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!