« previous next »

Author Question: If a firm hires labor for 6,000, pays rent of 2,000, buys raw materials for 10,000 from another ... (Read 130 times)

rachel9

  • Sr. Member
  • ****
  • Posts: 495
on: Jun 30, 2018
If a firm hires labor for 6,000, pays rent of 2,000, buys raw materials for 10,000 from another firm, earns profits of 800, and sells its output for 25,000, the value added by the firm is _____.
 a. 6,200
 b. 9,000
 c. 15,000
  d. 18,000
  e. 18,800

Question 2

A technological advance that increases labor productivity will:
 a. lower wages.
  b. decrease the demand for labor as fewer workers are needed.
  c. decrease the supply of labor as fewer workers are needed.
  d. increase the demand for labor as MP rises.
  e. decrease the demand for labor as MP falls.


tmlewis4706

  • Sr. Member
  • ****
  • Posts: 295
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Rocks are the most common geosphere materials, and can be fun, dangerous, beauti Rocks are the most common geosphere materials, and can be fun, dangerous, beauti
Protective gloves are available in several sizes and materials. Protective gloves are available in several sizes and materials.
North Korea: Labor Issues North Korea: Labor Issues
The Hazardous Materials Identification System is used to label containers that hold hazardous ... The Hazardous Materials Identification System is used to label containers that hold hazardous ...
A valve corroded by nitric acid. Hazardous materials releases are often caused by using incompatible ... A valve corroded by nitric acid. Hazardous materials releases are often caused by using incompatible ...
Management Information Systems: Managing the Digital Firm, 15th Edition Management Information Systems: Managing the Digital Firm, 15th Edition
Video: Gas exchange - partial pressure, locations, external and internal respiration

For a complete list of videos, visit our video library