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A. What is the law of diminishing marginal productivity? Give an example from your workplace/household of the law of diminishing marginal productivity?.a) Explain why is the demand of labor a derived demand?b) Determine what is the relationship between productivity and the wages earned by an employee? What are some factors that determine the level of your income?
Describe why a company in a perfectly competitive market would choose to remain in business, if its profit is zero at equilibrium.
As a kid, you recorded the costs of your Kool-Aid stand and create your long-run average-cost curve. Now you work in a video chip company.
The article study for the demand, supply and the market equilibrium has been discussed. The article that has been review was published on August 2012.
Discuss and explain two factors that would increase demand for labor. Suppose if the market price of the good or service that a firm produces increases, what happen to the demand of labor
Andre has asked you to evaluate his business, Andre's Hair Styling. Andre has five barbers working for him. Each barber is paid $9.90 every hour and works a forty hour week and a fifty week year,
During the last ten-years, sales revenue has increased from 25 million to 65 million. Estimate the company's growth rate in sales using the constant growth model with annual compounding.
Rochester Metro Area was hit with a major ice storm in 2003. Suppose that before ice storm of 2003, the weekly demand and supply for ice in the Rochester Metro Area were given by following equations:
Marty's Frozen Yogurt is a small shop that sells cups of frozen yogurt in university town. Marty have three frozen-yogurt machines.
The Quik Service Walk In Clinic always has three M.D. and 8 R.N.s working at its 24 hour clinic, which serves consumers with minor emergencies and ailments.
There is some information you are given, and on the basis of the information, you are asked to make a decision. Now here are some definitions
The total monthly cost for marketing this product is composed of $3000 additional administrative expenses and $50 each unit for production and distribution costs.
If a firm wishes to break-even at 20,000 units, its variable cost per unit is $3, and its fixed cost per period is $40,000, its selling price per unit will have to be;
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