« previous next »

Author Question: Firms pay famous individuals to endorse their products because A) famous people only consume ... (Read 88 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?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

The formation of a chimeric gene that is found in people with certain forms of leukemia. The formation of a chimeric gene that is found in people with certain forms of leukemia.
This iconic photograph by Dorothea Lange, entitled “Migrant Mother,” has become a famous ... This iconic photograph by Dorothea Lange, entitled “Migrant Mother,” has become a famous ...
According to Kohlberg’s theory, only a few individuals, such as Martin Luther King, Jr. (left) and ... According to Kohlberg’s theory, only a few individuals, such as Martin Luther King, Jr. (left) and ...
Liquid Formulations of Herbal Products Liquid Formulations of Herbal Products
Consumption of animal products "استهلاك المنتجات الحيوانية" Consumption of animal products "استهلاك المنتجات الحيوانية"
The carotenoid lycopene, found in tomatoes and tomato products, functions as an antioxidant The carotenoid lycopene, found in tomatoes and tomato products, functions as an antioxidant
Video: Simple and Double Sugar

For a complete list of videos, visit our video library