« 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 99 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?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
Child Labor Rates and GDP Worldwide Child Labor Rates and GDP Worldwide
Indentured Labor from Asia Indentured Labor from Asia
North Korea: Labor Issues North Korea: Labor Issues
Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ... Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ...
Efficient Allocation of Labor between Sectors Efficient Allocation of Labor between Sectors
Video: Forming urine ( influencing factors), Forming dilute urine & Forming concentrated urine

For a complete list of videos, visit our video library