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Q. What is Unit Labour Cost?
Unit Labour Cost: How much an employer pays for labour needed to produce each unit of a good or service. Unit labour cost can be computed by dividing a worker's hourly (or annual) labour cost, by amount (in physical units or value terms) that they produce during that hour (or year). It is hence the ratio of labour costs to productivity. Companies try to decrease their unit labour cost, either by increasing productivity (denominator) orby reducing labour costs (numerator).
1. Moving from an economically inefficient to efficient allocation of resources will necessarily increase benefits by more than costs. 2. There are two demand curves for a pri
maximum profits will occur at the output level
1. How does the marginal social benefit curve of a common resource compare to the marginal social benefit curve of positive externality from a mixed good? Highlight the difference
characteristic of duopoly
THEORY OF CUSTOMS UNION: A customs union is an association of two or more countries to encourage trade. The countries making such an arrangement agree to eliminate tariffs and
Deviation from ideal gas behavior The Van der Waal''s Equation This is observed, deviations from gas laws are high under high pressures & low temperatures. The Van der Waal suggest
Questions (i) You are an industry analyst. Last year, the production cost of Microprocessor increased remarkably due to labor unionization. Nevertheless, the industry experie
MRTS and Marginal Productivity The change in output from change in labor equals: The change in output from change in capital equals
hey, I just have a question on how to apply things like ATC and AVC in a problem. im just not too sure about what happens to the quantity of a particular good when asked. this is p
indiffference curve
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