Labor Marginal Revenue Product
1 25
2 35
3 30
4 20
5 10
If the firm employs 3 units of labor, what is its marginal resource cost?
A. $25
B. $30
C. $90
D. $75
E. $750
Answers
The marginal resource cost for a firm that employs 3 units of labor with the given labor marginal revenue product is $75. Option D is correct.
To calculate the marginal resource cost, we need to find the cost of hiring an additional unit of labor. From the given data, we can see that the marginal revenue product (MRP) of the third unit of labor is $30. This means that the firm will earn an additional $30 in revenue by hiring the third unit of labor.
Now, we need to find the cost of hiring the third unit of labor. Since the cost of hiring the first unit of labor is $25, the cost of hiring the second unit of labor would be:
$35 - $25 = $10Similarly, the cost of hiring the third unit of labor would be:
$30 - $35 = -$5However, we cannot have a negative cost, so we take the absolute value of -$5, which is $5. Therefore, the cost of hiring the third unit of labor is $5.
Now, to find the marginal resource cost, we add the cost of hiring the third unit of labor to the total cost of hiring the first two units of labor, which is:
$25 + $10 = $35Therefore, the marginal resource cost for a firm employing 3 units of labor is:
= $35 + $5*3= $75Option D is correct.
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Related Questions
Julie is completing her PowerPoint presentation on rescue dogs. She wants to include a picture of her dog as the background of her title slide. Under what tab can Julie find this feature? Animations Design Home Slide Show
Answers
Answer:
Its probably too late. but its Design
Explanation:
Answer:
Design
Explanation: I did the test and got it right
Jack, a geologist, had been debating for years whether or not to venture out on his own and operate his own business. He had developed a lot of solid relationships with clients, and he believed that many of them would follow him if he were to leave his current employer. As part of a New Year's resolution, Jack decided he would finally do it. Jack put his business plan together, and, on January 1 of this year, Jack opened his doors for business as a C corporation called Geo-Jack (GJ). Jack is the sole shareholder. Jack reported the following financial information for the year (assume GJ reports on a calendar year, uses the accrual method of accounting, and elects to account for inventory). In January, GJ rented a small business office about 12 miles from Jack's home. GJ paid $10,000, which represented a damage deposit of $4,000 and rent for two years ($3,000 annually). GJ earned and collected $290,000 performing geological-related services and selling its specialized digging tool. GJ received $50 interest from municipal bonds and $2,100 interest from other investments. GJ purchased some new equipment in February for $42,500. It claimed depreciation on these assets during the year in the amount of $6,540. GJ paid $7,000 to buy luxury season tickets for Jack's parents for State U football games. GJ paid Jack's father $10,000 for services that would have cost no more than $6,000 if Jack had hired any other local business to perform the services. While Jack's dad was competent, he does not command such a premium from his other clients. In an attempt to get his name and new business recognized, GJ paid $7,000 for a one-page ad in the Geologic Survey. It also paid $15,000 in radio ads to be run through the end of December. GJ leased additional office space in a building downtown. GJ paid rent of $27,000 for the year. In November, Jack's office was broken into, and equipment valued at $5,000 was stolen. The tax basis of the equipment was $5,500. Jack received $2,000 of insurance proceeds from the theft. GJ incurred a $4
Answers
The rent paid in January represents prepaid rent and should be recorded as a prepaid expense on the balance sheet. Only the portion of rent that applies to the current year (i.e., $3,000) should be recorded as an expense on the income statement.
Revenue:
Geological-related services: $290,000
Sales of specialized digging tool: $0 (amount not provided)
Interest income:
Municipal bonds: $50
Other investments: $2,100
Expenses:
Rent: $10,000 (paid in January, represents a damage deposit of $4,000 and rent for two years at $3,000 annually)
Equipment: $42,500 (purchased in February, with depreciation claimed during the year in the amount of $6,540)
Football tickets: $7,000 (for Jack's parents)
Services from Jack's father: $10,000 (above market value for comparable services)
Advertising expenses: $22,000 ($7,000 for a one-page ad in the Geologic Survey and $15,000 for radio ads to run through December)
Office rent: $27,000 (for additional space leased in downtown building)
Theft loss: $3,000 ($5,500 tax basis minus $2,000 insurance proceeds)
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Which of the following would the social security tax pay for? a health insurance b pensions for the elderly and disabled that qualified c vacations d education
Answers
When a securities firm acts as a(n) ____, it makes a market in specific securities by maintaining an inventory of those securities.
Answers
Answer:
The correct approach is "dealer".
Explanation:
Dealers would provide money supply to financial products whilst also trying to establishing a working capital of those that have been exchanged at a small concentration. By mobilizing savings, dealers generate more money out of the expansion respectively bids and start questioning for quotes. To make profits, individuals consider purchasing lesser at either the contract offer, as well as take revenue at either the request and then, have a high turnover.Which of the following countries has an absolute advantage in coffee production?
Group of answer choices
A) United States
B) Saudi Arabia
C )Ireland
B) Brazil
Answers
Answer:
Brazil
Explanation:
because Brazil produces more Coffee overall compared to the other countries given the same input
Marta is interviewing candidates for a position in the Human Resources department at her company. She is deciding who to interview by going through resumés and looking at the subject areas in which each candidate studied. Which four candidates would be the best choice for Marta to interview?
Answers
Answer:
C). Marisol, who studied communications and business
Explanation:
Marisol would be the best candidate to be interviewed for the position in the HR department as she has studies business and communications which is critical to ensure effective communication between the employee and the business. The HR professionals primarily function as the link between the two and help in maintaining healthy employee relations. They act as the leaders in the organization and with their efficient organization, decision-making, and management skills, they ensure the smooth functioning of the organization. Since Marisol has studied business and communications, she must possess these skills which would be the most suitable for the position. Hence, option C is the correct answer.
Answer:
B: Michelle, who studied communications and business
list out the tasks of an overseer.
Answers
Answer:
Mentor, coach, monitor and supervise communities throughout the shelter construction process. Provide technical assistance to households involved in shelter construction. Coordinate with counterparts in other PIN's areas of operation, ensuring exchange of lessons learnt and good practices
Explanation:
What types of planning can be done to improve a nation’s economy?
A nation can undergo ____ planning or ___ planning in order to improve its economy.
Answers
Answer:
A nation can undergo long-term planning or constructive planning in order to improve its economy. Long-term planning involves setting goals and implementing policies that will have an impact over a period of several years. This type of planning may involve investments in education, infrastructure, and research and development, among other areas. Constructive planning involves implementing policies that encourage economic growth and development, such as reducing barriers to trade, promoting entrepreneurship and innovation, and investing in key industries. These types of planning can help a nation to create jobs, increase productivity, and improve living standards for its citizens. THANK YOUBU2073 Career Planning and Professional Skills Worksheet 5.6 - Your Strategic Advantage Think about the data you have collected in the Worksheets from Chapter 5. Narrow it down to the main items that
Answers
The BU2073 Career Planning and Professional Skills Worksheet 5.6 - Your Strategic Advantage helps you identify your unique selling point (USP) or value proposition. The data collected from Chapter 5 worksheets will be used to narrow down the main items that distinguish you from other job candidates.
The BU2073 Career Planning and Professional Skills Worksheet 5.6 - Your Strategic Advantage helps you identify your unique selling point (USP) or value proposition. The data collected from Chapter 5 worksheets will be used to narrow down the main items that distinguish you from other job candidates. You should complete the following steps: Review the data you have collected in the Worksheets from Chapter 5. Select the five most important points that distinguish you from other job candidates. Examine each of these points in more detail to determine how they might be used to promote yourself. Develop a brief personal statement that reflects your unique selling point and value proposition. Your statement should be concise and compelling, emphasizing the benefits you offer an employer. The first step is to review the data collected from Chapter 5 worksheets. This should include your skills, education, experience, achievements, and goals. Then you need to select the top five points that distinguish you from other job candidates. The items you select should be the ones that are most likely to impress an employer and demonstrate your value proposition. Examine each point in more detail to determine how it might be used to promote yourself. This will involve developing specific examples and creating a narrative that emphasizes your skills and achievements. It may also involve identifying ways in which you can leverage your experience to add value to a company. Finally, develop a brief personal statement that reflects your unique selling point and value proposition. This statement should be concise, compelling, and emphasize the benefits you offer an employer. By following these steps, you will be able to identify your strategic advantage and differentiate yourself from other job candidates.
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it is reasonable to assume that charitable organizations have a goal to maximize profits.
Answers
it is unreasonable to assume that charitable organizations are established to maximize profits.
A charitable organization refers to those bodies established for social philanthropy and well-being.
An example of charitable organization is the various foundations around us which are established to ensure well-being of the society.
Majority of the charitable organization are established to cater for social needs not for maximization of profit.
Therefore, it is unreasonable to assume that charitable organizations are established to maximize profits.
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The ABC Cleaning Company is assessing the value of its tangible and intangible assets. Its intangible assets would most likely include their _____.
Answers
Answer:
Intangible assets might include: A trademark, a patent, copyright, or even a brand.
What decision did a London Court Reach In this case?
Answers
Answer:
A.
Explanation:
I did B from the person above and got it wrong and it said that A was the answer :)
Answer:
A. The writing of The Da Vinci Code did not violate copyright law.
Explanation:
Right on ED2021, goodluck!
Click this link to view O*NET’s Tasks section for Heating and Air Conditioning Mechanics and Installers. Note that common tasks are listed toward the top, and less common tasks are listed toward the bottom. According to O*NET, what are some common tasks Heating and Air Conditioning Mechanics and Installers perform? Check all that apply.
joining pipes or tubing to equipment and to fuel, water, or refrigerant source
pumping oil from a well into a pipeline for transmission
overseeing the activities of workers in a hydroelectric power plant
testing pipe, or tubing joints or connections for leaks
reassembling and testing equipment
testing electrical circuits or components
Answers
Answer:
A, D, E , F
Explanation:
Just finished the assignment.
Answer:
The correct answer is A C D F
Explanation:
outline 2 advantages to H&H of using secondary market research
Answers
Explanation:
It provides quick information and factual background perspectives
It is less expensive and affordable
Terrel is designing and maintaining a web page for a local company. In which career pathways would Terrel be involved?
Programming and Software Development, and Network Systems
Network Systems and Interactive Media
Information Support and Services, and Programming and Software Development
Interactive Media, and Information Support and Services
Answers
Answer:
C. Information Support and Services, and Programming and Software Development
Explanation:
I got it right on edge. trust me.
Answer:
C. Information Support and Services, and Programming and Software Development
Explanation:
Edge
Many adults owe money from their college loans for years into their professional careers. a newspaper would like to estimate the proportion of all adults in the city who have debts from college loans. to collect data, a random sample of 300 young adults between the ages of 25 and 35 is asked, "do you have more than $5,000 in current college debts?" 68% of those sampled reported that they do have more than $5,000 in college-related debts. how might this sample be biased in obtaining an estimate of all adults in the city who have college debts?
Answers
Because only young adults were sampled, undercoverage bias may cause the newspaper to overestimate the proportion of all adults who have college debts.
What is bias in sampling?
When a sample is chosen in statistics, sampling bias is a bias that causes some individuals of the target population to have a lower or greater sampling probability than others. As a result, not every person or event was equally likely to have been chosen, resulting in a biased sample of a population (or non-human variables).
If this is not taken into consideration, results may be incorrectly attributed to the sampling procedure rather than the phenomenon being studied. Although some people identify sampling bias as a distinct sort of prejudice, sampling bias is typically categorized as a subtype of selection bias, sometimes referred to as sample selection bias.
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The poorest 25 percent of the u.s. population earned ________ or less per year in 2016.
Answers
The poorest 25 percent of the u.s. population earned $24,600 or less per year or less per year in 2016.
In 2016, the poorest 25 percent of the U.S. population earned $24,600 or less per year. This figure represents the annual income threshold below which a quarter of the population falls. It signifies the economic challenges faced by a significant portion of the population, highlighting income disparities and financial struggles. It's important to note that this income level may vary over time due to factors such as inflation and economic fluctuations.
Individuals and families within this income bracket often face difficulties meeting their basic needs, including housing, healthcare, and education. Addressing income inequality and providing opportunities for upward mobility are crucial in promoting economic well-being and reducing poverty rates in the United States.
Therefore, the poorest 25 percent of the u.s. population earned $24,600 or less per year or less per year in 2016.
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Using the tables in Appendix 11.A, how much interest will an investment of $10,000 today at 12% interest compounded annually earn over 20 years (rounded to the nearest dollar
Answers
Using the compound interest formula. The amount earned on interest on the invested amount would be $86,463
Using the relation :
\( A = P(1 + r)^{t} \) A = total amount after t years P = Amount invested r = Rate of investmentSubstituting the values into the relation :
\( A = 10000(1 + 0.12)^{20} \)
A = $96462.93
The interest earned can be calculated thus :
$96,462.93 - $10,000 = $86,462.93Hence, interest earned is $86,463
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Strauderman Delivery Company, Inc., was organized in 2016 in Wisconsin. The following transactions occurred during the year: a. Received cash from investors in exchange for 10,000 shares of stock (par value of $ 1.00 per share) with a market value of $ 4 per share. b. Purchased land in Wisconsin for $ 16,000 , signing a one-year note (ignore interest). c. Bought two used delivery trucks for operating purposes at the start of the year at a cost of $ 10,000 the following; paid $ 4,000 cash and signed a note due in three years for the rest (ignore interest). d. Paid $ 1,000 cash to a truck repair shop for a new motor for one of the trucks. (Hint: Increase the account you used to record the purchase of the trucks since the productive life of the truck has been improved.) e. Sold one-fourth of the land for $ 4,000 to Pablo Development Corporation, which signed a six-month note. f. Stockholder Melissa Strauderman paid $ 27,600 cash for a vacant lot (land) in Canada for her personal use.
(b) Prepare a trial balance at December 31, 2016.
Answers
To prepare a trial balance at December 31, 2016, we need to list all the accounts and their balances. Here are the transactions that occurred during the year:
a. Received cash from investors in exchange for 10,000 shares of stock (par value of $1.00 per share) with a market value of $4 per share.
b. Purchased land in Wisconsin for $16,000, signing a one-year note.
c. Bought two used delivery trucks for operating purposes at the start of the year for a cost of $10,000. Paid $4,000 cash and signed a note due in three years for the rest.
d. Paid $1,000 cash to a truck repair shop for a new motor for one of the trucks.
e. Sold one-fourth of the land for $4,000 to Pablo Development Corporation, which signed a six-month note.
f. Stockholder Melissa Strauderman paid $27,600 cash for a vacant lot (land) in Canada for her personal use.
To prepare the trial balance, we need to categorize the transactions into different accounts. Here are the accounts and their balances:
Cash:
- Received $10,000 from investors
- Paid $4,000 for trucks
- Paid $1,000 for truck repair
- Received $27,600 from Melissa Strauderman
- Total cash balance: $32,600
Stock:
- Received $10,000 from investors
- Total stock balance: $10,000
Land:
- Purchased land for $16,000
- Sold one-fourth of the land for $4,000
- Total land balance: $12,000
Trucks:
- Purchased trucks for $10,000
- Total truck balance: $10,000
Notes Payable:
- Signed a note for $6,000 (balance of truck payment)
- Signed a note for $12,000 (balance of land payment)
- Total notes payable balance: $18,000
Pablo Development Corporation Note Receivable:
- Received $4,000 from Pablo Development Corporation
- Total note receivable balance: $4,000
Total debit balance: $82,600 (Cash + Land + Trucks)
Total credit balance: $28,000 (Stock + Notes Payable + Pablo Development Corporation Note Receivable)
Please note that the trial balance is a listing of all the accounts and their balances to ensure that the total debit balance equals the total credit balance.
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The trial balance at December 31, 2016, would include the following accounts:
- Cash: The amount of cash received from investors and paid for various transactions.
- Notes Payable: The outstanding balance of the notes signed for the purchase of land and trucks.
- Land: The remaining value of the land purchased, excluding the portion sold.
- Trucks: The cost of the trucks used for operating purposes.
- Accumulated Depreciation - Trucks: The accumulated depreciation on the trucks.
- Truck Repair Expense: The amount paid for the new motor for one of the trucks.
- Accounts Receivable: The amount receivable from Pablo Development Corporation for the sale of land.
- Stock: The par value of the shares of stock issued to investors.
- Retained Earnings: The accumulated earnings of the company.
B. Explanation:
To prepare the trial balance, we need to list all the accounts and their respective balances at December 31, 2016. The balances are determined based on the transactions provided.
We start with the cash account, which reflects the cash received from investors and cash paid for various transactions. The balance is the net result of these cash inflows and outflows.
Next, we consider the notes payable account, which represents the outstanding balance of the notes signed for the purchase of land and trucks. The balance is the sum of the amounts still owed on these notes.
The land account reflects the remaining value of the land purchased after selling a portion to Pablo Development Corporation. We include the cost of the land and subtract the proceeds from the sale.
The trucks account represents the cost of the two used delivery trucks purchased at the start of the year. If any depreciation has been recorded, it would be deducted from the cost to determine the balance.
The truck repair expense account reflects the amount paid for a new motor for one of the trucks. This expense is included in the trial balance.
Accounts receivable reflects the amount receivable from Pablo Development Corporation for the sale of land. It includes the amount of the note signed by Pablo Development Corporation.
The stock account represents the par value of the shares of stock issued to investors. The retained earnings account reflects the accumulated earnings of the company.
By listing these accounts and their respective balances, we can prepare the trial balance, which serves as a summary of the company's accounts and their balances at the end of the year.
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Which of the following is a function of an integrated marketing communications system?
a. designing products using environmentally-friendly techniques
b. sharing company forecasting details with shareholders
c. allowing suppliers or vendors to manage the inventory of products
d. delivering a consistent message on the product to each brand contact
e. controlling production levels by feedback received from customers
Answers
Answer:
d. delivering a consistent message on the product to each brand contact
Explanation:
An integrated marketing communications (IMC) system is a strategy that coordinates all of a company's communication channels and messages to deliver a clear, consistent, and compelling message to its target audience. This includes marketing, advertising, public relations, corporate communication, and sales promotion efforts. IMC seeks to ensure that all brand contacts, including advertising, sales promotions, public relations, and direct marketing, are consistent and reinforce each other, resulting in a cohesive and unified brand image.
Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,200, 13,000, 15,000, and 16,000 units, respectively. All sales are on credit. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. The ending finished goods inventory equals 20% of the following month’s unit sales. The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.50 per pound. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours. The variable selling and administrative expense per unit sold is $1.40. The fixed selling and administrative expense per month is $63,000. 5. If 76,000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July?
Answers
Raw materials needed for July production = 8,200 units x 5 lbs/unit = 41,000 lbs
Ending raw materials inventory = 10% of August production needs = 10% x 76,000 lbs = 7,600 lbs
Total raw materials needed in July = 41,000 + 7,600 = 48,600 lbs
Purchases in July = 48,600 - 41,000 (raw materials needed for July production) = 7,600 lbs
what effect might use of outdated or incorrect information have on a business?
Answers
Answer:
it could misslead or make there buisness fail
Explanation:
f(5) =
f(3) =
f(-5) =
f(-3) =
Answers
Answer:
53636363633636336366363
Which of the following is a characteristic of a service?
A. Can be stored
B. Can be repeated in exactly the same way
C. Mass produced
D. Intangible
Answers
Answer:
D.Intangible
Explanation:
Because three characteristics of service are: intangibility, inseparability, variability
The correct answer is D. Intangible. is a characteristic of a service
What are servicesServices are intangible in nature. This means that they do not have a physical presence and cannot be touched or held like physical goods. This is one of the key characteristics that differentiates a service from a product.
Options A, B, and C are typically characteristics of goods, not services:
A. Services cannot be stored for later use like physical goods.
B. Due to the human aspect involved in delivering services, they may not be repeated in exactly the same way each time.
C. Services are generally customized to the individual customer and are not mass-produced in the same sense as physical goods.
Option D is therefore a service characteristic.
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3. ______ are defined as goods or services that are required for health and safety.
Answers
Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.
What is the safety of goods?A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.
Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.
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These organization tend to be larger in size and small in numbers.
A)Corporation
B)Partnership
C)Cooperative
D)Proprietorship
Answers
Answer:
Alternative D
Explanation:
Because proprietorships are usually huge organizations that in a quantitive way is a few
Which economic principle is related to supply and demand?
Answers
The economic principle which is related to supply and demand is known as the scarcity principle.
What is a scarcity principle?The scarcity principle is a price link between dynamic supply and demand that is explained by economic theory. The scarcity principle states that the price of an item with a low supply and strong demand rises to meet the predicted demand.
Marketers frequently employ the notion to create fake scarcity and exclusivity for a certain product or good in order to drive demand for it. The scarcity principle states that the price of a scarce commodity should grow until an equilibrium between supply and demand is attained. However, this would result in the good being restricted to those who can buy it.
Therefore, scarcity principle is related to supply and demand.
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"free enterprise" and "________________" are terms for an economy based on private businesses competing for profits in open markets with minimal government regulations.
Answers
Answer:
entrepreneurship for them and
What are the main security concerns with using AI techniques in
industries, and how are they being approached/resolved?
Answers
AI or artificial intelligence refers to the use of algorithms and statistical models that allow machines to perform tasks that would normally require human intelligence. While AI has revolutionized industries, there are security concerns associated with it.
What are the main security concerns with using AI techniques in industries, and how are they being approached/resolved?The main security concerns with using AI techniques in industries include the following:Data breaches: Data breaches are one of the most significant security risks associated with AI. Malicious use: Malicious use is another security concern associated with AI. Hackers could use AI to develop more sophisticated attacks, making it more difficult to detect them. Vulnerabilities: AI systems are vulnerable to various types of attacks. These include adversarial attacks, where an attacker manipulates data to trick the system, and backdoor attacks, where an attacker can bypass the system's security measures. AI systems can also be compromised through supply chain attacks, where an attacker targets a third-party supplier of the system or its components.
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How do taxes influence responsible financial planning?
Answers
Answer:
Proper tax planning makes it easier to build your personal finances and afford the things you want. Additionally, by anticipating taxes when you create your financial plan, it's possible to significantly boost how much money you will have in retirement.
Explanation: