In this question, we'll consider a version of the authority model where the principal works with two agents, each on a separate project. There is one principal who is in charge of two projects, i=1,2. The principal hires one agent for each project; we identify the agent associated with project i as Agent i. Each Agent i separately chooses effort e i
to produce an idea for his own project i. Each Agent i 's effort cost is 2
1
e i
2
. At the same time, the Principal P chooses effort levels E 1
and E 2
to devote to each project. Her total effort cost is 2
1
(E 1
+E 2
) 2
. (Note that this means that there is a strong crowding-out effect for the principal: if he exerts more effort in one task, it becomes more costly for him to exert effort in the other task.) The probability that Agent i produces an idea for Project i equals his effort e i
. The probability that P produces an idea for Project i equals E i
. For Project 1: if the Principal's idea is implemented, then the Principal and Agent 1 both receive 1. If Agent 1's idea is implemented, then the Principal receives 1 and Agent 1 receives 1/2. For Project 2: if the Principal's idea is implemented, then the Principal and Agent 2 both receive 1. If Agent 2's idea is implemented, then the Principal receives 0
1
(E 1
+E 2
) 2
. Each Agent i 's payoff is his expected project value from his own project, minus his effort coste i
2
/2. The timing of the game is: 1. Each A i
chooses effort level e i
. At the same time, P chooses E 1
and E 2
. 2. Each player's attempt (to generate an idea) either succeeds or fails. 3. For each project, P chooses which idea (if both are successful) to implement 4. Payoffs are realized. a) Write down A i
's expected utility as a function of e i
and E i
. Calculate A i
's choice of e i
as a function of E i
. b) Write down P's expected utility as a function of his and the agents' effort choices. Calculate P's choice of E 1
and E 2
as functions of e 1
and e 2
. c) Work out the equilibrium levels of the agents' effort choices e 1
and e 2
, and the Principal's effort choices, E 1
and E 2
. (You'll have to solve a system of four simultaneous equations, each of which correspond to one of the first-order conditions. (Hint: Once you have the four equations, it may be convenient to find a way to solve for E 2
first.)
Answers
In this authority model, each agent chooses effort for their respective project, while the principal chooses effort levels for both projects. The agents' payoffs depend on their expected project value and effort costs, while the principal's payoff depends on the success of the implemented idea.
In the equilibrium of this authority model, both agents choose effort levels of 1/42 for their projects, and the principal also chooses effort levels of 1/42 for both projects.
Explanation:
a) Agent i's expected utility, denoted as U(i), can be expressed as the expected project value minus the effort cost: U(i) = (1/2)(1) + (1/2)(1/2) - \(21e(i)^{2/2}\). To find the agent's optimal effort choice, we differentiate U(i) with respect to e(i) and set it equal to zero, resulting in the first-order condition: -42e(i) + 1 = 0. Solving this equation gives the agent's optimal effort choice, e(i) = 1/42.
b) The principal's expected utility, denoted as U(P), is the sum of the payoffs from both projects: U(P) = (1/2)(1) + (1/2)(1) - 21(E(1) + \(E(2)^{2}\). To find the principal's optimal effort choices, we differentiate U(P) with respect to E(1) and E(2) separately and set them equal to zero. Solving these equations yields the principal's optimal effort choices: E(1) = E(2) = 1/42.
c) To determine the equilibrium effort choices and principal's effort choices, we need to solve the four simultaneous equations: -42e(1) + 1 = 0, -42e(2) + 1 = 0, -42E(1) + 1 = 0, -42E(2) + 1 = 0. Solving this system of equations, we find that the equilibrium effort choices for the agents are e(1) = e(2) = 1/42, and the principal's effort choices are E(1) = E(2) = 1/42.
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Related Questions
Calculate Net Profit margin based on the following information: Revenue: 88,258.00 Net Income: 6,542.00 Cost of Goods Sold: 49,520.00 O 1.69% O 7.41% O 5.92% O2.11%
Answers
The Net Profit revenue is 7.41%. Subsequently, choice (B) is the right one.
Net Profit revenue is determined by partitioning the Net gain by the Income and afterward increasing by 100 to communicate it as a rate:
Net Profit revenue = (Net gain/Income) * 100
Given the qualities:
Overall gain = $6,542.00
Income = $88,258.00
Ascertaining Net Profit revenue:
Net Overall revenue = ($6,542.00/$88,258.00) * 100 ≈ 7.41%
Subsequently, the right response is "7.41%." This rate addresses the piece of income that converts into net gain in the wake of deducting the expense of products sold and different costs.
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Stephen owns a chemical plant. He is glad that his primary stakeholders are satisfied with the company's growth. However, he is concerned about pleasing the secondary stakeholders. How can he ensure the welfare of secondary stakeholders?
Answers
Answer: D. use a manufacturing process that is compliant with all state and federal regulations.
Explanation:
The options to the question are:
a. pay less taxes
b. substitute the existing labor power with machines
c. double the output of the manufacturing process by asking workers to work overtime
d. use a manufacturing process that is compliant with all state and federal regulations
e. organize picnics for employees
Since Stephen wants to ensure the welfare of secondary stakeholders, he should use a manufacturing process that is compliant with all state and federal regulations
The secondary stakeholders are the individuals or entities that the company doesn't have direct economic transactions with e.g. the government, environmental groups, media etc.
Therefore, to please the secondary stakeholders, he must abide to the necessary rules and regulations.
A producer makes cute and funny gift items with themes such as golf,
football, and sports cars. How could a catalog retailer best help this producer
make the products available to more consumers with these interests?
Answers
Answer:
The catalog retailer can make these products more available by showing that they have access to everything, and promoting them more and making big steps by advertising them places.
Explanation:
i put it in the wrong spot lol
Answer:
By featuring them in catalogues with products that are selected to appeal to consumers with these interests
Explanation:
Which of the following is true about certified public accountants (CPAs)?
O A. CPAs work for government agencies and corporations.
B. CPAs only work in the public sector.
C. CPAs only work in the private sector.
O D. CPAs work for small businesses but not large businesses.
Answers
Answer:
A. CPAs work for government agencies and corporations.
Explanation:
Certified public accountant (CPA) is the title for skilled, competent, and professionally trained accounts. Accountants play a significant role in any organization's success, be it a business-oriented, government institution, or not-for-profit organization. Employers seek and employ qualified and certified accountants to work in their organizations.
Both the public and private sector engage the services of certified account to take charge of accounting and financial management. The objective is to ensure that financial transactions are recorded correctly, and the financial statement reflects the true picture of the organization as per the generally accepted accounting principles.
what is an important difference between bookkeepers and accountants?
Answers
One of the most important differences between bookkeepers and accountants is that while bookkeepers are responsible for keeping records of financial transactions, accountants use this information to make business decisions.
Difference between bookkeeper and accounting are as follows:Bookkeeping is the process of recording, storing, and retrieving financial transactions for a company. Bookkeepers are responsible for entering and categorizing financial transactions such as purchases, sales, receipts, and payments.Accountants, on the other hand, are responsible for preparing financial statements, analyzing financial data, and making recommendations to help businesses make informed financial decisions. They also make recommendations to improve financial performance.Accounting is the process of recording, classifying, analyzing, interpreting, and summarizing financial data to make business decisions. Accounting helps business owners understand their financial position and make informed decisions that will benefit the company. Bookkeepers and accountants work together to provide business owners with accurate financial information that they can use to make informed decisions.In conclusion, bookkeeping and accounting are two distinct but related fields that work together to help businesses thrive.
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In the Challenge Solution, would it make a difference to the analysis whether the lump-sum costs such as registration fees are collected annually or only once when the firm starts operation? How would each of these franchise taxes affect the firm's long-run supply curve? The Federal Motor Carrier Safety Administration (FMCSA) along with state transportation agencies in 38 states administer interstate trucking licenses through a Single State Registration System. However, the registration process is complex, time consuming, and expensive. There are many fees and costly regulations that a trucker or firm must meet to operate. For example, for a large truck, the annual federal interstate registration fee can exceed $8,000. These largely lump-sum costswhich are not related to the number of miles drivenhave increased substantially in recent years. What effect do these new fixed costs have on the trucking market price and quantity? Are individual firms providing more or fewer trucking services? Does the number of firms in the market rise or fall? The Challenge Solution suggests the market price will increase and the market quantity will decrease. Further, the number of firms in the market will fall, although each firm remaining in the market will produce more. Instead of being collected annually, if the lump-sum costs are collected only once (when the firm starts operation), then
Answers
Answer:
The answer is "nothing changes because the fees would still be fixed costs."
Explanation:
When annual expenses throughout the cash payment are recovered, a long-term delivery curve of both the company will change.
When the lump sum costs are still only obtained once, the long-term supply curve shall be changed.
It is because, regardless of how it is paid, this tv license has little effect mostly on low cost but only a fixed cost. Its amount of output relies on how well the cost of the profit changes. Provided these are fixed costs, their performance doesn't matter.
Business Operations Management Week 11 Tutorial 9 Worksheet Planning and Control + Question 1+ Planning and control activities include loading, sequencing, scheduling, and monitoring and control. → Select a company (e.g., coffee shop, burger restaurant, hair salon, $2 shop, sushi bar, fast food restaurant) and explain how these planning and control activities to be adopted to a company. + Capacity Management + Question 2+¹ The decisions taken by operations managers in devising their capacity plans will affect several different aspects of performance(e.g., costs, revenues, working capital, quality or services, speed of response to customer demand, dependability of supply, flexibility).
Answers
Question 1: Planning and control activities are an essential aspect of the operations management of any organization. The four key elements of these activities include loading, sequencing, scheduling, and monitoring and control.
Question 2: Capacity management is an important aspect of the operations management of an organization.
Question 1: These activities are critical in ensuring the effective utilization of resources, meeting customer demands and quality expectations, and reducing costs.
In the case of a coffee shop, for instance, planning and control activities will include determining the number of employees required to meet customer demands at specific times of the day, sequencing tasks such as taking orders, preparing drinks, and handling cash, and scheduling tasks to ensure that the employees work efficiently.
Monitoring and control activities will involve tracking employee performance, the quality of coffee and other drinks served, and customer satisfaction levels to make timely interventions where necessary.
Question 2: The capacity plan helps to determine the amount of resources required to produce goods or services in a given period, the levels of inventory required, and the resources that will be needed to meet demand.
The decisions taken by operations managers in devising their capacity plans will affect several different aspects of performance, such as costs, revenues, working capital, quality of services, speed of response to customer demand, dependability of supply, and flexibility.
These decisions will, therefore, have a direct impact on the profitability of the organization. Capacity management involves analyzing market trends, forecasting demand, and identifying the resources required to meet this demand.
Once this is done, a capacity plan is created, which outlines how the resources will be utilized to achieve the desired output levels. In conclusion, operations managers must be careful when making capacity decisions since they have a significant impact on the overall performance of the organization. 100 words.
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A shareholder is entitled to all but which one of the following?A) To attend the annual general meeting (AGM)B) To receive a dividend if one is declaredC) To have a say in the running of the businessD) To be called a 'member' of the company
Answers
A shareholder is entitled to all of the following except "To be called a 'member' of the company." The correct alternative is option D.
A shareholder is someone who owns a portion of a company's stock or shares. As a shareholder, you have certain rights and privileges that come with owning a stake in the company.
These typically include the right to attend annual general meetings (AGMs), the right to receive a dividend if one is declared, and the right to vote on important business decisions that affect the company.
However, being called a 'member' of the company is not typically one of the rights that comes with being a shareholder. While some companies may refer to their shareholders as members, this is not a universal practice and does not have any legal significance.
The key rights and privileges of a shareholder are those outlined above, which can vary depending on the specific company and the type of shares owned.
Therefore the correct alternative is option D.
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How important is money
Answers
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
PLEASE HELP
8. The International Monetary Fund, the World Bank, and the International Development Association are international organizations that
(A) keep track of world population growth
(B) make loans to developing nations
(C) limit loans and investments to nations located in certain regions
(D) have refused to help the developing nations
Answers
Answer:
answer is b (make loans to developing nations
Gertrude takes out a $5,500 subsidized Stafford loan, which must be paid back in ten years. Gertrude will graduate four years after taking out the loan. If the loan has an interest rate of 6. 8%, compounded monthly, and Gertrude makes monthly payments, how much interest will she pay by the time the loan is repaid? Round all dollar values to the nearest cent. A. $4,462. 40 b. $1,213. 28 c. $1,713. 69 d. $2,094. 80.
Answers
The interest is the amount of payment that is given by the borrower to the lender of money, it is the excess amount that is paid for the use of money.
The amount of interest that Gertrude would pay is $2,908 to repay the total amount of the loan.
What is interest?Interest is the monetary charge for acquiring money, and it is mostly shown as a percentage, such as an annual percentage rate (APR).
Interest is the excess amount that is paid by the lender to use his money on a certain percentage, and it is repaid with the amount of principal.
Computation of Interest:
Given that,
Principal(P) = $5,550,
Interest Rate(i) = 6.8%,
\(\text{i} = \dfrac{6.8}{12\times100}\\\\\text{i} =0.005667\)
Number of monthly Installments(n)= 10×12 = 120.
Here, we apply the formula of E.M.I (Equated Monthly Installment):
\(\text{E.M.I.}= \dfrac{P\times i\times (1+i)^n}{(1+i)^n-1}\\\\\\\text{E.M.I.}=\dfrac{\$5,500\times 0.005667\times (1+0.005667)^1^2^0}{(1+0.005667)^1^2^0-1}\\\\\\\text{E.M.I.}=\$63.29\)
Here, the total installments of the loan are 120,
then the amount of total payment would be:
\(120\times\$63.29= \$7,594\)
Then, the amount of interest that is paid on the loan would be:
\(\text{Amount -Principal}= \text{Interest}\\\\\$7,594.28-\$5,500= \$2,094.28\\\\\\\text{Interest}= \$2,094.28\)
Therefore, the total amount of interest that Gertrude has to pay is $2,097.28.
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Have a look at the top 10 brands in the world, what similarities can you see in regards to their marketing activities
Answers
s you probably know, brand equity is becoming increasingly important factor to successful brands. Brand equity has the ability for firms to to gain additional market share, at a price premium, with increased customer loyalty, and greater acceptance of new products. It also provides significantly more access to more retailer channels and easier ability to enter new markets.
Professional valuation companies that rank firms on the brand equity value consider how much the brand contributes to additional profitability. Here are the top 10 brands for 2015 as determined by Millward Brown.
Apple
Microsoft
IBM
Visa
AT&T
Verizon
Coca-Cola
McDonalds
Marlboro
Source: Tommy Stubbington and Ben Edwards, open double quoteU.K. to Repay First World War Bonds,close double quote Wall Street Journal, October 31, 2014. A few years ago the British government was considering retiring, or buying back from investors, some outstanding consols that had annual coupons of pound60. A consol is:
Answers
Answer:
Follows are the solution to this question:
Explanation:
Its console shall be coordinated effort mutual funds which do not grow at all, and in every year they create a corrected degree of interest, that's why Its bond paying a fixed rate of the coupon but not maturing.
\(\text{Consolation price} =\frac{\text{Set amount of coupon}}{\text{Return Rate}}\)
\(= \frac{35}{2.5\%} \\\\ = \frac{35\times 100}{2.5} \\\\ = \frac{35\times 1000}{25} \\\\ = \frac{7\times 1000}{5} \\\\ = 7\times 200 \\\\= 1400\)
It's the price that the government needs to offer shareholders.
Jonathan needs insurance for his new vehicle. Why are insurers most likely to look at his credit history? (5 points)
Credit may be related to car loan requests.
Credit may be related to a degree of responsibility.
Credit may be related to good or bad health habits.
Credit may be related to a driver's license.
Answers
Insurers are most likely to look at his credit history because credit may be related to a degree of responsibility.
What does your credit score say about your driving habits?
Insurers look at credit scores as a measure of a driver's responsibility. The indication is that those with high credit scores manage their money well and are more likely to behave more responsibly behind the wheel.
What is credit history?Credit history is a record of how you've managed the repayment of debts, such as credit cards and loans. Your credit history is recorded in your credit reports, which also contain additional information about your finances.
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Type the correct answer in the box.
Which strategy are you following if you are concentrating on serving a particular segment of customers better?
You are following the_______
strategy if you are concentrating on serving a particular segment of customers better.
Answers
Answer:
Targeting Strategy
The salaries payable account for Green Corporation as of January 31, 2020 had a credit balance of $10,000. During February, employees worked a total of 3,500 hours at average pay of $12 per hour. Pay day for January happened on February 1st and pay day for February happens on March 1, 2020. What is the account balance in the Salaries Expense account for February?
Group of answer choices
a. $10,000
b. $42,000
c. $52,000
d. $0
Answers
The account balance in the Salaries Expense account for February is .The correct option is b.
The account balance in the Salaries Expense account for February, we need to determine the total salary expense for the month based on the hours worked and the average pay rate.
- Credit balance in Salaries Payable account (as of January 31, 2020): $10,000
- Total hours worked in February: 3,500
- Average pay rate per hour: $12
Salary Expense for February = Total hours worked x Average pay rate per hour
Salary Expense for February = 3,500 hours x $12 per hour
Salary Expense for February = $42,000
Since the credit balance in the Salaries Payable account represents unpaid salaries from a previous period, it does not affect the Salaries Expense account for February. Therefore, the account balance in the Salaries Expense account for February is $42,000.
Thus, the correct answer is:
b. $42,000
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What is the danger of having a lot of debt?
(brainlyest)
Answers
Answer:
probably not paying it off in time or something
Explanation:
provided that they have good health, more workers retire ____ than for any other reason.
Answers
The main reason why more workers retire is due to good health.
Good health allows individuals to continue working for a longer period of time. However, as they age, health concerns may arise, making it more challenging to maintain a job. Therefore, when workers are in good health, they are more likely to retire due to personal preference rather than external factors such as job loss or health issues. This is why good health is the main reason why more workers retire than for any other reason.
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knowledge check 01 during the current year, harold company sold inventory costing $350,000 for a selling price of $675,000. beginning balances of inventory and accounts payable were $86,000 and $116,000, respectively. the ending balance of inventory is $94,000 and the ending balance of accounts payable is $123,000. what is the amount of cash paid to the suppliers of goods?
Answers
To find the amount of cash paid to the suppliers of goods for Harold Company, we need to consider the following terms: inventory, accounts payable, and cost of goods sold. Here's a step-by-step explanation:
1. Calculate the cost of goods sold (COGS): Since the inventory costing $350,000 was sold for a selling price of $675,000, the COGS is $350,000.
2. Determine the change in inventory: The beginning balance of inventory was $86,000, and the ending balance is $94,000. The change in inventory is $94,000 - $86,000 = $8,000 (an increase in inventory).
3. Calculate the total inventory purchased: COGS + change in inventory = $350,000 + $8,000 = $358,000.
4. Determine the change in accounts payable: The beginning balance of accounts payable was $116,000, and the ending balance is $123,000. The change in accounts payable is $123,000 - $116,000 = $7,000 (an increase in accounts payable).
5. Calculate the amount of cash paid to the suppliers of goods: Total inventory purchased - change in accounts payable = $358,000 - $7,000 = $351,000.
Therefore, the amount of cash paid to the suppliers of goods during the current year for Harold Company is $351,000.
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It is the process of considering, evaluating, and pursuing market-based activities that are believed to be advantageous for the firm. Your first question?
Answers
The practice of contemplating, evaluating, and pursuing market-based activities that are thought to be favorable to the organization is known as a) opportunity seeking.
Entrepreneurs take the effort to explore possibilities in order to develop them into commercial situations. Entrepreneurs are creative individuals who may quickly seek out chances.
We might explore possibilities by implementing fresh concepts. The entrepreneur will look for existing consumers in new methods. The display of fresh client needs will decide the opportunity, which is advantageous for a market entrepreneur.
Entrepreneurs outperform conventional businesspeople because they generate greater profit by executing creative ideas that please customers. To determine the success of opportunity seeking, three questions must be answered: who, where, and how large the opportunity for the buyer is.
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Correct question:
It is the process of considering evaluating and pursuing market based activities that are believed to be advantageous for the firm
a. opportunity seeking
b. opportunity seizing
c. opportunity screening
d. sources of opportunity
Write any five methods of getting information of foreign employment and discuss any one of them.
Answers
Answer:
May it will help you
Explanation:
1) Notice board
2) Book of introduction
3) Institutions work working under the ministry of labour
4) Authority of human resources
5) Manifestos of training institutions
6)Web site
7) Newspapers
8) Public meeting :the manpower company, training institutions and institutions of public counseling are working in the field of foreign employment in nepal.
They come to the direct or indirect contact of people through various programmes of interaction, seminar, and meeting.
9)Radio and television
Foreign employment getting information through Notice board, Book of introduction, Authority of human resources, Web site, and Newspapers.
Who is Foreign employment?
Public meeting: When the manpower company, training institutions, and institutions of public counseling are working in the field of foreign employment in Nepal.
Although, They come to direct or indirect contact with people through various programs of interaction, seminars, and meetings.
Also, Foreign employment getting information through Institutions work working under the ministry of labor, Manifestos of training institutions, Radio, and television
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When you receive a loan, the money the lender gives you is called the
Answers
Answer:
The Principle
Explanation:
There are two main parts of a loan: The principal -- the money that you borrow. The interest -- this is like paying rent on the money you borrow.
what is the relationship between beginning cash balance and ending cash balance for the current year
Answers
Answer:
While the cash flow statement shows cash coming in and going out, the balance sheet shows the assets and liabilities that result, in part, from the activities on the cash flow statement.
Explanation:
Please give the brainliest.
What is the difference between a routine and a major decision
Answers
Answer: routine decision- the type made every day without much though
planned decision- use more time and energy to make the best choice
Explanation: i really hoped it helped.
The Critical Path is: Group of answer choices the interrelationships of project activities. the shortest path in the project network. the most important identified tasks within the project. the longest path in the project network. the longest time in which the project can be completed.
Answers
The longest path in the project network is the critical path.
Critical Path is an estimate of the minimal (shortest) project duration and is the longest path through the project network diagram.
Since there is no (positive) float or wiggle space on the Critical Way, it is the longest path through the project. On the timetable network diagram, there is (positive) float or leeway for other (non-critical) paths.
Because the Critical Path is the only path that runs continuously from beginning to conclusion of the project, with no float or wiggle room to cut down, it is also an estimate of the minimal (shortest) duration to accomplish the project. Other paths contain float or wiggle room, but cutting those courses won't speed up the completion of your job.
The Critical Path must be shortened in order to reduce the project timeline, and this can be done by applying schedule compression strategies like Fast-tracking and Crashing.
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You bought 10 shares of stock in StreamingVideoCo for $45 per share. Two months later you sold the 10 shares of stock for $80 per share. What was your profit or loss on StreamingVideoCostock?
Answers
Answer:
Profit on the sale of shares = 350
Explanation:
Below is the calculation of profit or loss on the sale of shares:
Number of shares = 10 shares
The purchase price per share = $45 per share
The selling price of share = $80 per share
Use the below formula to find the profit on the sale of share:
Profit on the sale of shares = Revenue from sale - Cost of shares
Profit on the sale of shares = (10 x 80) - (10 x 45)
Profit on the sale of shares = 800 - 450
Profit on the sale of shares = 350
The profit or loss on the streaming video co stock is $350.
The calculation is as follows:Profit on the sale of shares = Revenue from sale - Cost of shares
= (10 × 80) - (10 × 45)
= $800 - $450
= $350
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3.6.2 Teut (COT): The Pret la foi
Question 1 of 25
2 Points
Which of the following has the lowest housing prices and the smallest
population density?
O A. Inner-city neighborhoods
B. Rural areas
O C. Suburban developments
O D. High-rise apartments
Answers
The correct answer is B. Rural areas
Explanation:
High population densities, as well as high housing prices, are mainly found in cities or nearby areas as most jobs and industries are located in these areas. This increases not only the number of people that live in these zones but also the price of housing as the prices of properties are higher due to a higher demand. This means, zones such as inner-city neighborhoods, suburbs, and similar are highly populated and the house prices are high.
On the other hand, nowadays rural areas have a small population density because most people are not interested in living in rural areas as it would take more time to get to cities where jobs and major industries are. Similarly, the housing prices are lower because the demand or number of people interested in buying properties is lower, which makes general housing prices lower.
Question 9 of 10
Which of the following is a general example of a business?
A. Jordan uses a computer to research the Civil War for his history
project.
B. Frank prepares dinner for his family on weeknights.
C. Wanda tries to make a profit by selling homemade jam at the
farmer's market.
D. Laurel volunteers to babysit her niece on Saturday.
SUBMIT
Answers
The best example of a business is that Wanda tries to make a profit by selling homemade jam at the farmer's market.
What do you mean by Business?An entity is defined as an organization or entity that performs commercial, industrial, or professional activities. Businesses can be for-profit organizations or non-profit organizations.
Business types range from limited liability companies to sole ownership, companies, and partnerships.
Thus, Option C is the correct answer that Wanda tries to make a profit by selling homemade jam at the farmer's market.
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use the table and proivded and explain the law of diminshing returns
plz help asap
Answers
Answer:
The law of diminishing returns states that at some point, the amount of additional output per amount of additional input decreases more and more as more inputs are used. In other words, at some point the marginal product will continuously decrease with more labor (input).
This is reflected in the table, where marginal product decreases past 2 units of labor. At 2 units, the marginal product is 14. This reduces to 6 at 3 units, and further to 2 with 12 units of labor.
Explanation:
D. now suppose instead that domestic tire producers in the united states convince the government to impose a tariff (tax) on imported tires with the goal of doubling the quantity of domestic tires produced compared to the quantity supplied at the world price. how large would the tariff need to be to achieve this goal?
Answers
Answer: Protective tariff; Revenue
Explanation: