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Yakvenalex [24]
3 years ago
14

Suppose that a competitive firm hires labor up to the point at which the value of the marginal product equals the wage and that

labor is the only input that varies for the firm. If the firm pays a wage of $700 per week and the marginal product of labor equals 35 units per week, then the marginal cost of producing an additional unit of output is
Business
1 answer:
almond37 [142]3 years ago
3 0

Answer:

$20

Explanation:

Calculation for the marginal cost of producing an additional unit of output

Using this formula

Marginal cost=Wage per week/Marginal product of labor

Let plug in the formula

Marginal cost= $700 per week/35 units per week

Marginal cost= $20

Therefore the marginal cost of producing an additional unit of output is $20

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A vacation house in Colorado is
stellarik [79]

Answer:

A vacation house in Colorado is rival in consumption and excludable.

The correct answer is C

Explanation:

A vacation house in Colorado is rival in consumption and excludable because it is a private good.

3 0
3 years ago
The one-year forward rate of the British pound is quoted at $1.60, and the spot rate of the British pound is quoted at $1.63. Is
mihalych1998 [28]

Answer:

discount; 1.8%

Explanation:

Calculation for the forward rate using this formula

forward rate=(F/S) - 1

Let plug in the formula

forward rate= ($1.60/$1.63) - 1

forward rate= -1.8 percent.

Therefore The forward DISCOUNT is 1.8 percent.

7 0
3 years ago
At 4 percent inflation, how much time will it take for prices to double? A. six years B. nine years C. twelve years D. eighteen
posledela

It will take six years for prices to double.

3 0
4 years ago
Due to the high demand for its handmade soaps in Canada,Fragrance Exotica,an Indian Soap manufacturer,has decided to open a new
Iteru [2.4K]

Answer:

Option C Customer demands

Explanation:

Customer demand is the desire of customer to have the product. Customer demand is also sometimes referred to as Product demand, though the customer demand is the features that the customer desires in the product and product demand is the demand of the product in the market. But one thing is common which is demand of the feature of the product. Now keep it simple, if their is a customer demand then there is business and if their is no customer demand their no business. Businesses collapse because there is no sales or in other words there is no demand of the product in the market and as a result the product sales is below no profit and no loss position. So the correct option is option C.

3 0
4 years ago
If an economy maintains a small rate of growth for a long period of time, then the size of the economy?
brilliants [131]

An economy maintains a small rate of growth for a long period of time, then the size of the economy: can increase by a large amount.

The real gross domestic product is employed to calculate it (GDP). long growth is delineated  as an economy's ability to make additional products and services over time

There are 3 main factors that drive the economic process, Accumulation of capital stock will increase parturient inputs, like employees or hours, worked, and Technological advancement.

Physical capital, human capital, labor, and technology area unit all typically want to model growth in social science. Increasing the quantity or quality of working-age folks, the tools they need at their disposal, and therefore the recipes they need for combining labor, capital, and raw materials can end in higher economic output.

Learn more about economy at

brainly.com/question/1106682

#SPJ4

3 0
2 years ago
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