Answer:
No, these two rules are not inconsistent.
Explanation:
A profit-maximizing firm will hire the number of workers such that the wage is equal to the value of the marginal product of labor.
But, a profit-maximizing firm will also produce the quantity of output at the level where price equals marginal cost.
But this does not mean that these two rules contradict or are not consistent. Hiring workers at the level where their wage is equal to the marginal product of labor helps the firm in reaching the point where the price of the product is equal to the marginal cost of production.
Answer:
Enforceable
Explanation:
Statute of frauds are legal requirements that a contract must have before it is considered to be enforceable.
Normally written contracts are required for transactions that are above $500, for sale of land, and transctions that last one year or longer.
The contract amount in the given scenario is (1000 pencils * $0.25) = $250
This amount falls below what is required for a written agreement. So an oral agreement can suffice in this case.
The contract is enforceable
Answer:
This is all the information I could find.
Answer: b. $ 1,900,000
Explanation:
The Net Increase in PBO can be calculated by the formula;
= Prior service cost + Service cost + Interest on the PBO - Benefits paid
= 1,700,000 + 400,000 + 190,000 - 390,000
= $1,900,000
