« previous next »

Author Question: Firms pay famous individuals to endorse their products because A) famous people only consume ... (Read 105 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?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Jane Goodall pioneered the modern approach to studying primates in the wild, involving close-up obse Jane Goodall pioneered the modern approach to studying primates in the wild, involving close-up obse
Work Settings for People Earning Master’s and Bachelor’s Degrees in Psychology Work Settings for People Earning Master’s and Bachelor’s Degrees in Psychology
Sensory Crossover Device for Visually Impaired People Sensory Crossover Device for Visually Impaired People
People with Huntington disease develop problems with neuromuscular control and gradually lose the us People with Huntington disease develop problems with neuromuscular control and gradually lose the us
Fraction of obese individuals by state in 1998 and 2008. In 1998, 42 states had obesity rates below Fraction of obese individuals by state in 1998 and 2008. In 1998, 42 states had obesity rates below
Collage of people showing emotions Collage of people showing emotions
Video: Power Supply Polyacrylamide Gel Protein Sample

For a complete list of videos, visit our video library