« previous next »

Author Question: Firms pay famous individuals to endorse their products because A) famous people only consume ... (Read 42 times)

EY67

  • Hero Member
  • *****
  • Posts: 531
on: Jun 29, 2018
Firms pay famous individuals to endorse their products because
 
  A) famous people only consume high-quality products.
  B) apparently demand is affected not just by the number of people who use a product but also by the type of person that uses the product.
  C) famous people obviously know what are the best goods and services.
  D) the firms are irrational and are wasting advertising expenditures.

Question 2

What is the marginal product of labor and what is the average product of labor.
 
  What will be an ideal response?
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


ASDFGJLO

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

The marginal product of labor is the additional output a firm produces as a result of hiring one more worker. The average product of labor is the total output produced by a firm divided by the quantity of workers. The average product of labor is the average of the marginal products of labor.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Female individuals of the banded Uromastyx, Uromastyx flavofasciata, are different colours. Most nat Female individuals of the banded Uromastyx, Uromastyx flavofasciata, are different colours. Most nat
More People Are Living in Cities More People Are Living in Cities
Of four outcomes people can have after exposure to trauma, the most prevalent is resilience. Others, ... Of four outcomes people can have after exposure to trauma, the most prevalent is resilience. Others, ...
We are in the midst of the globalization of capitalism. The explosion that is sending products ... We are in the midst of the globalization of capitalism. The explosion that is sending products ...
Sex Hormone Products Sex Hormone Products
The karyotype of an XYY male. Affected individuals are usually taller than normal, and some, but not The karyotype of an XYY male. Affected individuals are usually taller than normal, and some, but not
Video: Gastroesophageal Reflux Disease (GERD)

For a complete list of videos, visit our video library