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Q. Elucidates marginal product of labour and diminishing marginal product. Let's assume your company makes widgets and you have clients that buy 1,000 of se widgets per day. An employee can make an average of 70 widgets per eight hours. se widgets cost company $10 dollars in materials each to make. Widgets are sold to customers for $15 dollars each.
You must pay employees minimum wage and right now minimum wage is $7.25 in many states. Our reading assignment in Chapter 18 says companies will hire workers up to point where value of marginal product of labour equals way. Based on information provided in my scenario, Illustrate what is value of marginal product? How many employees should you hire? Illustrate what wage should you set for your widget making employees?
Was she calls her company's distribution manager and requests a special delivery for her customer. Jenny is providing the important marketing function of.
For each level of output except zero output, calculate the average variable cost, average total cost and average fixed cost.
Elucidate how do you compute the effective price reduction resulting from a coupon promotion.
Given the optimal output in c, Elucidate how much profit (or loss) can the manager of Ever Klein Pool Services expect to earn?
Which he can trade at the going prices. He has no other source of income. Illustrate what is Nick's gross demand for x.
Distinguish between the resource market and product market in the circular flow model. In what way are businesses and households both sellers and buyers in this model.
illustrate what is the real GDP in every yr, given which the price index has risen from 100 to 104.5 in the 1st yr also up to 108.3 in the 2nd yr.
Imagine that you were the president of an emerging country that is trying to reduce the number of its imports
A industry is currently operating where the MC of the last unit produced = $84, and the MR of this unit = $70. What would you advise this firm to do.
There is a direct relationship between a growing real GDP also rising pollution. Growth provides an economic environment favorable to education also self-fulfillment.
Elucidate how the Solow Growth Model reacts to an increase in government spending.
Illustrate what happens to output, the price level, and the expected price level in both the short run and the long run.
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