Answer:
The firm willing to pay a worker chosen at random an amount of $38,000.
Explanation:
This can be calculated as follows:
Amount the firm is willing to pay = (40% × $50,000) + (60% × $30,000) = $20,000 + $18,000 = $38,000.
Therefore, the firm is willing to pay a worker chosen at random an amount of $38,000.
Answer: 15
Explanation:
Length of garden = 45 feet
Width of garden = 15 feet
One truckload covers 45 square feet
How may truck load will cover the entire garden.
Area of rectangle = Length × width
Area of rectangular garden = 45 × 15
Area of rectangular garden = 675 square feet
1 truckload of mulch = 45 square feet
y = 675 square feet
45y = 675
y = 675 ÷ 45
y = 15 truck loads of mulch
15 truckloads of mulch will cover the entire garden
$15.00 .....this sentence is just filler because $15.00 is too short.
A perfectly competitive firm earns a profit when price is above the average total cost.
A perfect competitive firm is a firm that operates in a perfectly competitive market. A perfectly competitive market is a market where the goods and services exchanged are homogenous. There is perfect information in this type of market.
In the long run, firms in a perfect competition earn only a normal profit. If in the short run, firms are earning economic profit, new firms would enter into the market. This would wipe out economic profit. In the short run, if an economic loss is been made, firms would leave the industry.
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