Answer:
a. No, the firm is not minimizing the cost of production.
b. The firm should continue to increase the units of labor by reducing the unit of capital until when the ratio of Marginal product of labor to Marginal product of capital of is equal to the ratio of w to r.
Explanation:
a. Is the firm minimizing the cost of production?
The firm minimizing the cost of production where:
Marginal product of labor / Marginal product of capital = w / r
From the question, we have:
40 / 28 = 6 / 3
1.43 = 2
Since the ratio of Marginal product of labor to Marginal product of capital of 1.43 is not equal to the ratio of w to r, the firm is not minimizing the cost of production.
b. What should the firm do, if anything, to produce the same level of output at lower cost?
The firm should continue to increase the units of labor by reducing the unit of capital until when the ratio of Marginal product of labor to Marginal product of capital of is equal to the ratio of w to r.
The closest point at which this will happen is when the Marginal product of labor is 45 and Marginal product of capital is 23 where we have:
45 / 23 = 1.96, or 2 approximately.
<h3>Answer:</h3>
<u>There is not enough information to answer the question</u>
<u>Explanation:</u>
Indeed there isn't enough information to answer this question since it doesn't state details such as;
- The initial quantity of supply,
- The initial price of price products
This information are necessary to determine how price floor laws imposed by governments affect the market of commodities.
Answer:
A. a clear message and positive ethos
Explanation:
Clarity in communication refers to being effectiveness in conveying the intended message. Clarity in speech is a must for any speech as it aids in better comprehension of the message by the listener.
Ethos refers to the creation of authority and command in speech. It also refers to whether the speaker is able enough to speak on a subject or is he the right person to speak on such a matter.
Through ethos, the speaker establishes his command over the subject he has chosen to speak upon.
Positive ethos would mean displaying a positive body language while speaking and maintaining calm and open to questioning and providing the required response. It refers to building an amiable rapport with listeners.
Answer: $50000
Explanation:
Based on the information that's been given in the question, firstly we need to calculate the excess reserves which will be:
= $4500 - (10% × $40000)
= $4500 - $4000
= $500
Then, the money supply that's expanded will be:
= Excess reserve / Reserve ratio
= $5000 / 10%
= $5000 / 0.1
= $50000
Therefore, the answer is $50,000.
Answer:
total petty cash expenses:
- Postage stamps $58
- Courier $73
- Company lunch $61
- Office decorations $30
- total $222
money left in the petty cash fund $68, so $10 are missing
December 31, petty cash fund reimbursement:
Dr Miscellaneous expenses 222
Dr Petty cash shortage 10
Cr Cash 232
December 31, bond sinking fund established:
Dr Other assets account 30,000
Cr Cash 30,000
December 31, petty cash fund is reduced by $50
Dr Cash 50
Cr Petty cash fund 50
