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A: Earlier, the employer had 14 hour work days with no overtime. Now, he has to pay a 20% premium for…
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A: The information being given is:- Compensation of employees = $2300 Operating surplus = $500 Mixed…
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A: Number of Fishermen (L) Total Product (TP) Marginal Product (MP) 1 18 18 2 34 16 3 48 14…
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A: Labor costs are the expenditure that is borne by the employers for hiring labor. Labor costs consist…
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A:
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A: Note: Since the question has more than 3 sub-questions, due to Bartleby policy we are restricted to…
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A: The formula:Marginal product =Change in total productMPL(2)=32-24=8MRPL=MPL* priceMRPL(2)=8*3=24
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A: The tile company would hire where market wage equals market product.
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A: To find : What is these type of earning referred to as.
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A: Wage is the return that the agents get for supplying their labour. Interest is the return that the…
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A: A firm will hire labor as long as wage rate is equal to value of marginal product of labor.
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A: Minimum wages have been characterized as the base measure of compensation that a employer is…
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A: The word "labor relations" refers to the process of making decisions in businesses that involve…
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A: Input cost, in the study of economics, refers to the costs that are required for producing a good or…
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A: The data presented in the question above is:- Operating surplus = $3000 million Compensation of…
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A: Wage Rate = 550 Fixed Rental payment =700 Labor quantity table -
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A: "Since you have asked multiple parts, we will answer only first two parts for you. If you have any…
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A: Given that: It is given that selling each unit of output for a price of $20. The value of marginal…
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A: The factors of production are the resources which are used in the process of production. The factors…
Q: when denand for goods and services is high, firm are more likely to hire workers? true or false
A: A rise in the demand for goods and services encourages producers to increases the level of output.…
Q: whats the difference between marginal physical product (MPP) and the marginal rate of subsitution…
A: Marginal physical product is focused on production theory and marginal rate of substitution is…
Q: The slope of an iso-revenue line is determined by?
A: An iso-revenue curve shows all possible combinations of two goods that would yield the same total…
Q: For a corripetitive firm workers marginal revenue product equals the marginal product of labor times…
A: The answer is - wage rate
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A: As per the question, Initial number of workers= 600 workers Initial wage received by a worker= $5000…
Q: Selling Price Workers Total Wage Rate Per Day Output $75 $20 1. 16 $75 $20 28 $75 $20 37 $75 $20 4…
A: The measure that depicts an extra amount of output that is being produced from utilizing one…
Q: Question 8 of 10 Attempt 1 of 2 Use the information in the table below to answer questions 7 through…
A: Labor cost = wage* labor Marginal cost = change in total cost / change in labor
Q: nas worked. A typical case Luba works on commission and has a weekly pay period. One week, she was…
A: Commission = 150 Worked hours = 25 Minimum Wage = 14.25
Q: describe a decline in purchasing power evidenced in an economic environment of rising prices?
A: Nominal income: - Nominal income is the amount of money a person gets as its wage. Real income: -…
Q: The marginal product of hiring a fourth worker is 40 units of output. The wage rate is $15, and the…
A: The marginal product (MP) of worker is the additional increase in the total product when one more…
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- Fill in the blanks In the following table: Mangiral Manginal Net Benefit 17 To tal a Total Cost Benelit eost Berebit XX xX 200 170 30 200 100 230 2. 270 50 3. 4 450 65 4.Total health expenditures are a function of price and O A. Reimbursement O B. Value O C. Assets O D. QuantityA producer collects he initial premium for a healih policy and gives he applicant a conditional receipt. In lhis situation lhe policy becomes effective at which of the following limes? A.When he premium is received in lhe insurance company's home office B.When the policy is delivered C.When the conditions of the receipt are met D.When the premium check clears the bank
- In order to control the amount it's citezens smokeFor each of the following kinds of insurance, give anexample of behavior that can be called moral /raumtand anotJ,cr example of behavior that can be calledadverse selection.a. health insuranceb. car insurancec. tile insurance#4. Without a vaccine, there is a 10% chance that Steven will get the coronavirus in 2021. If he gets vaccinated, that risk falls to 1%. Without a vaccines, Steven gets -6000 utils if he gets covid and 0 utils if he stays healthy. Because of side effects, he gets -100 utils from the vaccine if he stays healthy and -6100 if he gets sick anyways. What will Steven do? a. He will get vaccinated b. He will not get vaccinated c. He will get vaccinated if he is risk-averse but not if he is risk-loving d. He will get vaccinated if he is risk-loving but not if he is risk-averse