Answer:
a) Y = 500
b) Wages: 2.5
Rental price: 2.5
c) labor Share of output: 0.370511713 = 37.05%
Explanation:
if K = 100 and L = 100
Y = 500
wages: marginal product of labor = value of an extra unit of labor
dY/dL (slope of the income function considering K constant while L variable)
With K = 100 and L = 100
Y' = 2.5
rental: marginal product of land = value of an extra unit of land
dY/dK (slope of the income function considering K variable while L constant)
L = 100 K = 100
Y' = 2.5
c) we use logarithmic properties:
50 was the land while 10 the labor
2.698970004 = 1.698970004 + 1
share of output to labor: 1/2.698970004 = 0.370511713
Answer:
The answer is establishment of organisational goals
Explanation:
The top managers set long-term goals and define strategies to achieve them. they make the decisions that affect the whole company such as financial investments, mergers and acquisitions, partnerships and strategic alliances, and changes to the brand or product line of the organization.
Answer:
When doing time trend analysis for financial ratios we can know how a company's ratio's have changed over time or if they have remained the same, so for example if a company's current ratio was less than 1 a year ago and is 3 now it means that the company was not very liquid a year ago but since then has made changes because of which it is liquid now, so we can see how a company has performed over a certain period of time.
On the other hand peer group analysis tells us how a company is performing compared to other companies in the same industry. For example if our cement company has a profit margin of 7% but the industry average is 15% we know that our company is doing something wrong or different as compared to the industry and we can look into it.
Explanation:
Answer: D. Product costs are expensed in the period the related product is sold
Explanation:
The statement that is true with regards to product cost is that product costs are expensed in the period the related product is sold.
It should be noted that the account for the cost of goods sold consist of product cost. In a situation whereby goods are not sold, the goods will be carried to the next period.
