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2 years ago

In what industry is labour likely to be the most important factor of production

Business

1 answer:

Lisa [10]2 years ago

4 0

Answer:

Labour is an active factor of production. It is the factor that starts production. Land and Capital alone cannot start production, so they are passive factors. They need the active factor of production, i.e. labour to be productive themselves.

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Which of the following is an example of the law of diminishing marginal returns? A. Holding capital constant, when the amount

Irina-Kira [14]

Answer:

The correct answer is option A.

Explanation:

The law of diminishing returns states that as we go on employing more and more unit of input while keeping other inputs constant, the return from each additional unit of input will go on declining.

This means that the output produced from each additional unit of input will go on declining.

Here, as capital is kept constant and labor is increased by a unit, the output at first increases by 5 units from 20 to 25. But later when input is again increased by a unit, the output increase by only 3 units from 25 to 28.

This shows the law of diminishing marginal returns where the marginal returns from a unit of labor is declining.

3 0

3 years ago

Consider the population consisting of all computers of a certain brand and model, and focus on whether a computer needs service

Dvinal [7]

Answer:

Based on selecting a sample of 300 computers The probability questions are follows

1. . What is the probability that no computer needs service within the warranty period?

2 . What is the probability that more than half of the computers that are sampled will need warranty period?

3. What is the expected number of computers fail before the warranty period?

7 0

3 years ago

What are three items that the national government provide

ioda

1. Government
2. Military
3. Protection

Hope this helps.

6 0

3 years ago

A baseball player is offered a 5-year contract that pays him the following amounts: Year 1: $1.40 million Year 2: $1.51 million

jolli1 [7]

The player's annual salary (in millions of dollars), using the present value calculations, is <u>$1.89743 million</u>.

<h3>What is the present value?</h3>

The present value of the player's future cash flows (salaries) is the current value or the value in today's dollars. It is computed by discounting the future values at the appropriate discount rate.

The present value can be computed using the Present Value formula, an online finance calculator, or the PV factor table.

Formula

PV = FV \frac{1}{(1+r)^{n}}

Where:

PV = present value

FV = future value

r = rate of return

{n} = number of periods

<h3>Data and Calculations:</h3>

Discount rate = 10%

Period of salary = 5 years

Period Cash Flows PV Factor Present Value

Year 1: $1.40 million 0.909 $1,272,600 ($1.4 x 0.909)

Year 2: $1.51 million 0.826 1,247,260 ($1.51 x 0.826)

Year 3: $2.25 million 0.751 1,689,750 ($2.25 x 0.751)

Year 4: $2.59 million 0.683 1,768,970 ($2.59 x 0.683)

Year 5: $3.17 million 0.621 1,968,570 ($3.17 x 0.621)

Additional present value required 1,540,000

Total present value = $9,287,150

Annual salary (in millions of dollars) = $1.89743 million ($9,287,150/5).

Thus, the player's annual salary (in millions of dollars) is <u>$1.89743 million</u>.

Learn more about present value calculations at brainly.com/question/20813161

8 0

2 years ago

Today is your 21st birthday and you just decided to start saving money so you can retire early. Thus, you are going to save $500

inna [77]

Answer: Option E -- 54.39years old

Explanation:

Compound interest is calculated using compound interest formula. Using compound interest formula, which is A = P(1+(r/n)) ^nt

Where A= Final Amount

P = Initial Principal Amount

r = Interest Rate

n = number of times interest applied per time period

t = number of times period elapsed

You/I would be 54.39years old when you/I retired. Which is Option E

3 0

3 years ago