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Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero. When the firm hires 6 workers the firm produces 90 units of output. Fixed costs of production are $6 and the variable cost per unit of labor is $10. The marginal product of the seventh unit of labor is 4. Given this information, what is the marginal cost of production when the firm hires the 7th worker? (Please show the process of getting the answer)
a. $10b. $1.50c. $2.50d. $5
Explain From the scenario and examine two strategies that organizations use to combine incentive plans in a balanced scorecard
Complete an analysis of the organization above and make certain to include the following elements in your analysis:
Current liabilities would not contain accounts payable notes payable bonds accruals
Explain how do online behaviour patterns change as individuals become older, with more responsibilities and more challenging jobs? Do applications like those examined in the case become less important? More Important?
The article on polygraph testing of FBI agents referenced in Exercise 7.51 indicated that the probability of a false-positive (a trustworthy person who nonetheless fails the test) is .15. Let x be the number of trustworthy FBI agents tested until ..
Assume that the policy makers' goals are to achieve the desired level of output (i.e., full employment output) and balanced trade. Given this information, what type of exchange rate and/or fiscal policy can be used to achieve simultaneously these ..
Take a few minutes to consider all areas where security is an IT concern. Select one you think is the most important and explain why you consider it important. As we go through the course, visit this topic again and see if you agree with your first ..
There is a new drug that is used to treat leukemia. The following data represents the remission time in weeks for a random sample of 21 patients using the drug.
What is the situation and what challenges and opportunities exist? What is the problem and is it worth solving?
If I endorsed a cheque and then subsequently lost it. Someone (Person A) found the cheque and then negotiated it to another person (Person B) for value but not in good faith, and then the bank paid out the cheque to Person B. Who do I have a claim ag..
Identify and analyze that organization's stakeholders, and suggest strategic initiatives your chosen organization could undertake to better deal with specific stakeholders.
Analyze and evaluate laws that protect against discrimination in the workplace.
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