Assume that labor and capital are the only two inputs a perfectly competitive firm uses to produce wheat. The firm hires its inputs in perfectly competitive input markets. The unit price of labor is $8 and of capital is $20. When the firm employs the profit-maximizing combination of these two inputs, the marginal product of labor is 2 tons of wheat and of capital is 5 tons of wheat. The price of wheat per ton must be

Answers

Answer 1

The price of wheat per ton must be $4 when profit-maximizing combination is employed.

What is Price?

This is defined as the amount of money that has to be paid to acquire a given product.

To get the price per ton for the company to make profit, we find the ratio of the unit price of labor to the marginal product of labor.

$8 / $2 = $4.

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Related Questions

Explain the differences and similarities between compound interest (for money saved) and compound growth (for money invested).

Answers

The similarities between compound interest and compound growth is that both are important for one to grow his money.

What is compound interest?

It should be noted that compound interest simply means the addition of interest to the principal sum money.

The similarity between compound interest and compound growth is that both are important for one to grow his money.

The difference is that compound growth calculates the gains based on the added result from the prior period.

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Amy works as a teller at the local bank. What kind of education would Amy likely have needed for her job?

Answers

Answer:

high school diploma

Explanation:

Answer:

High School Diploma

Explanation:

I took the test said it was right. Also when you search what the requirements to become a bank teller it says "High School Diploma or equivalent."

True or false: keynes' law best applies to short time horizons that see fluctuations in total demand.

Answers

It is a true statement that the Keynes law best applies to short time horizons which see fluctuations in total demand.

What is the Keynes law?

The Keynesian economic model is developed to adovate an increased government expenditures (spending) and lowering of taxes for stimulation of demand for getting an economy out of the depression.

The law of Keynesian model states that demand creates its own supply and any changes in aggregate demand will cause changes in real GDP and employment.

In conclusion, the statement that Keynes law best applies to short time horizons which see fluctuations in total demand is true.

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Standards that represent levels of operation that can be attained with reasonable effort are called.

Answers

Answer:

normal standards

Standards that represent levels of operation that can be attained with reasonable effort; sometimes called normal standards.

Which of the following are characteristics of hard money? i. donations from individuals and interest group pacs ii. regulated by the federal election commission iii. goes directly to a political candidate iv. can be used for advertising or other campaign expenses a. i, ii, iii, and iv b. i and ii only c. i, iii, and iv only d. ii, iii, and iv only please select the best answer from the choices provided a b c d

Answers

The characteristics of hard money include donations from individuals and interest group PAC'S, and they are regulated by the Federal Election Commission.

What is hard money?

Hard money and soft money are often used to describe the type of currency and also refer to political currency in the United States.

These two combined factors are the definition of what is considered "hard money" in politics.

Hard money is separated from soft cash, because the latter comes from a donation that can be controlled by the Federal Election Commission.

Thus, the correct answer is option B.

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What is the primary purpose of a trading bloc? (5 points) group of answer choices to foster political and social unity to lower manufacturing costs to reduce or eliminate tariffs to create free market economies

Answers

The primary purpose of a trading bloc is to reduce or to eliminate the tariffs. Option C is correct.

What is the trading blog?

A trading bloc is a kind of intergovernmental agreement, frequently part of a regional intergovernmental organization, in which trade restrictions between participating governments are decreased or totally abolished.

Trade blocs can arise as independent agreements between states or as part of a regional organization. The fundamental purpose of that type of blog is to reduce or eliminate the tariff.

Therefore, option C is correct.

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Market failure associated with the free-rider problem is a result of.

Answers

Market failure associated with the free-rider problem is a result of benefits that accrue to those who don't pay.

What is market failure?

Market failure refers to a situation when there's an inefficient distribution of resources in the market.

Market failure occurs when the free market does not distribute resources efficiently. This leads to rational outcomes for the group as a whole.

Hence, market failure associated with the free-rider problem is a result of benefits that accrue to those who don't pay.

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George has been assigned to be the new project manager for our project. He is eager to get off to a good start and wants to identify what activities he should first engage in. How would you advise him to start

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To be an effective manager, George must first perform the work breakdown structure (WBS) in addition to clearly defining the project scope and statement of work.

How to be an effective project manager?

It is essential to plan the project actions that will structure its progress, such as defining the schedule and using resources effectively.

Therefore, the project manager must also implement internal and external risk management to maximize opportunities and prevent negative eventualities.

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Businesses use a number of methods to create a good picture of their customer base. This market research can help companies to validate their ________

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Businesses use a number of methods to create a good picture of their customer base. This market research can help companies to validate their target marget.

What is a target market?

This is a market for whom the goods that are being produced or the services rendered are aimed at.

They are the ones that would be the potential customers of the business that is being set up.

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#SPJ1

When does a lender have to disclose the annual percentage rate (APR)?
A. Lenders do not use APR when making loan agreements.
B. Lenders must disclose the APR after the loan agreement is signed.
C. Lenders must disclose the APR before the loan agreement is
signed.
O D. Lenders are not required to disclose the APR.

Answers

Answer: ITS C!!!!!!!

Explanation:

Answer:

C. Lenders disclose the APR before the loan agreement is signed.

The _____ is the sum of past _____ less surpluses. national debt; budget deficits budget deficit; national debts budget deficit; public debts public debt; national debts

Answers

public debt : budget deficits is the answer :) have a great day <3

When comparing the direct write-off method and the allowance method of accounting for uncollectible accounts, the entry to reinstate a previously written off accounts under the allowance method would include:

Answers

The entry to reinstate a previously written off accounts would include: debiting accounts receivable; crediting to Bad Debt Expense .

What is account receivable?

Account receivable can be defined as the money a company is expected to receive from their client for the service they rendered to the client .

The appropriate  journal entry to reinstate a previously written off accounts is

Debit Accounts receivable

Credit Bad Debt Expense

Therefore the entry to reinstate a previously written off accounts would include: debiting accounts receivable; crediting to Bad Debt Expense.

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which account is prepared before balance sheet ? ​

Answers

Answer:

Balance sheet is prepared after ascertaining net profit and net loss from profit and loss account. It is the summary of the personal account and real accounts having debit and credit balances.

What would a manager increase by providing positive feedback and reinforcing positive attributes of employees

Answers

When a manager provides positive feedback and reinforces positive attributes, this increases employee self esteem.

How can managers improve employee self esteem?

Managers are very important in the building of an employee's self esteem to ensure that they are better workers.

Some ways they can do this include giving positive feedback on employee tasks and also reinforcing positive attributes that the employees have to encourage them to do better.

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Lazer industries, inc. manufactures medical equipment parts and accessories. assume all amounts are pre-tax and a 21% tax rate for 20x1.

net sales $1,200,000
interest expense $150,000
gain on sale of discontinued operations $400,000
cost of goods sold $300,000
selling, general and administrative expenses $170,000
gain on sale of investments $30,000
restructuring charges $20,000

required:
prepare a multiple-step income statement for lazer industries, inc. based on the available information for the year ended december 31, 20x1.

Answers

The multi-step Income Statement for Lazer Industries, Inc. for the year ended December 31, 20x1 is as follows:

Lazer Industries, Inc.

Multi-step Income Statment

For the year ended December 31, 20x1

Net sales                                          $1,200,000

Cost of goods sold                            $300,000

Gross profit                                       $900,000

Expenses:

Selling, general and  administrative $170,000

Operational income                        $730,000

Interest expense                               $150,000

Ordinary Income before tax          $580,000

Gain on sale of

discontinued operations                $400,000

Gain on sale of investments             $30,000

restructuring charges                      ($20,000)

Taxable income                             $990,000

Tax on ordinary income                 $207,900

Net income                                     $782,100

What is a multiple-step income statement?

A multiple-step income statement is an income statement that categorizes incomes and expenses into operating and non-operating heads so that the net income can be computed after taking into account operating, ordinary, and extraordinary revenues and expenses.

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Understanding how artificial intelligence, big data, and collaborative computing will impact your organization is the challenge of managing for:.

Answers

There is management of technological advances when we need to understand how artificial intelligence, big data and computing impact the firm.

What is a technological advances?

These mean the process of invention, innovation and diffusion of technology in a firm.

These are important to understant to help make decision that will improve use of tachnology in a firm.

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When direct labor is used as the overhead allocation base, the variable overhead efficiency variance ______. Multiple choice question. cannot be calculated will always be unfavorable will be favorable when the direct labor efficiency variance is favorable explains how efficient overhead resources were used

Answers

When direct labor is used as the overhead allocation base, the variable overhead efficiency variance will be favorable.

What is direct labor?

It should be noted that direct labor simply means the production that is assigned to a specific product.

In this case, when direct labor is used as the overhead allocation base, the variable overhead efficiency variance will be favorable.

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If an employer in a state with elective workers compensation laws chooses not to be subject to those laws, what does the employer lose?

Answers

Answer:it’s common law defenses against liability suits

Explanation:

The leadership aspect of managerial leaders is to ______, while the management part is to ______.

Answers

The leadership aspect of managerial leaders is to influence, while the management part is to facilitate. Read below on qualities of a leader.

What are the qualities of a good leader?

The qualities of a good leader are the following:

IntegrityAbility to delegateCommunicationSelf-awarenessGratitudeLearning agilityInfluenceEmpathyCourageRespect

Therefore, leadership aspect of managerial leaders is to influence, while the management part is to facilitate.

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The demand curve for a monopolistically competitive firm is downward sloping because
A. there are a large number of firms

B. the product is produced by using scarce resources

C. the products produced by different firms are not identical

D. it is easy for firms to enter or exit the market

E. the marginal cost rises as output produced increases

Answers

The demand curve for a monopolistically competitive firm is downward sloping because the products produced by different firms are not identical.

What is monopolistic competition?

A monopolistically competitive firm is a firm where there are many sellers and buyers of differentiated goods. Sellers set the price for their goods and services.

In a monopolistic competitive market, there are large number of sellers which are producing similar products or close substitute but the products are different enough that the demand curve for each firm is downward sloping.

Hence, the demand curve for a monopolistically competitive firm is downward sloping because the products produced by different firms are not identical.

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______ is a nonprofit organization that recruits and selects college graduates from universities to serve as teachers in low-income conditions.

Answers

The blank space in the task statement should be filled with; Teach for America.

Teach for America initiative

As the name implies, Teach For America is a nonprofit organization whose stated objective is to "enlist, develop, and mobilize as many as possible of our nation's most promising future leaders to grow and strengthen the movement for educational equity and excellence".

On this note, the nonprofit organization in discuss is; Teach for America.

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A company should include using AI to increase productivity on which section of its balanced scorecard? Multiple Choice financial internal business customer innovation and learning

Answers

A company should include Innovation and Learning using AI to increase productivity on the Internal Process perspective of its balanced scorecard.

What is the Internal Process Perspective of the Balanced Scorecard?

The internal process perspective section drives customer and finance-related objectives, especially dealing with:

Process improvementsQuality optimizationCapacity utilization.

Thus, A company should include Innovation and Learning using AI to increase productivity on the Internal Process perspective of its balanced scorecard.

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What are the two steps a producer can take to gain an absolute advantage? produce more goods. use high-quality resources. produce more expensive goods. use fewer resources. produce high-quality goods. use local resources.

Answers

Answer:

The correct answers are 1) produce more goods and 4) use fewer resources.

Explanation:

In the economic theory the definition of absolute advantage is the ability to produce as much of a product as possible while using few resources. On the other hand, comparative advantage is something that can help a producer sell a good at a low price which is attractive for customers while retaining good sale margins.

1. Produce more goods.
4. Use fewer resources.

Nike works to ensure that all of its print and media advertisements are consistent with what the company is advertising in regard to footwear, clothing, and accessories. Nike is utilizing _______ to ensure this.

Answers

If Nike works to ensure that all of its media advertisements are consistent. Nike is utilizing integrated marketing communication (IMC)  to ensure this.

What integrated marketing communication (IMC)?

Integrated marketing communication (IMC)  can be defined as the process in which a company or an orgainzation tend to ensure that their brand advertisement is consistent  and unify with what they produced.

Integrated marketing communication  is important as it is a form of brand promotion and sales promotion.

Therefore Nike is utilizing integrated marketing communication (IMC)  to ensure this.

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Wealth is not a scarce resource for most people (true/false)

Answers

Answer:

False

Explanation:

Wealth is scarce.

Select the correct answer. which would you need in the event of professional mishaps? a. insurance b. trusts c. power of attorney d. will

Answers

In the case of one having a professional mishap, the most likely thing they need is a. Insurance.

What is the purpose of insurance?


Insurance is needed for cases where there is a professional mishap such as a fire or injury.

Insurance would ensure that the effects of that professional mishap, will be limited.

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B was 42 when the life insurance policy was issued. 42 is referred to as the ______ age of the policy. A

Answers

Because the assured is 42 when the life policy was issued, such age will be called an original age of the policy.

What is an original age?

In a life policy, an Original Age refers to the age of an insured at the inception of a life insurance policy.

Therefore, as the the assured is 42 when the life policy was issued, such age will be called an original age of the policy.

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A website that shows you a selection of athletic shoes based on your previous views of other shoes is using Blank______ to be responsive to your personal needs.

Answers

If website that shows you a selection of athletic shoes based on your previous views of other shoes is using personalization.

What is personalization?

Personalization can be defined as the process of knowing a person preferences so as to meet their need.

Most online companies tend to make use of  personalization to know your preference based on the last thing you bought or based on your previous view by advertising or marketing similar products to you so as to meet your personal needs.

Inconclusion If website that shows you a selection of athletic shoes based on your previous views of other shoes is using personalization.

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David is 60 years old, has moderate financial health, a short time horizon, and a low risk tolerance.
Drag the slider to decide what percentage he should invest in stocks versus bonds and cash equivalents.
When you’re finished, click submit.

Answers

Based on the fact that David has a low-risk tolerance, it is advisable that he invests small percentages in stocks and bonds.

What is Risk Tolerance?

This refers to the level of risk that an investor is willing to endure and this has to do with the variability in investment.

Please note that your question is incomplete so I gave you a general overview to help you get a better understanding of the concept.

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Answer:

On Everfi-58% on bonds and the rest on stocks

Explanation:

I just kept randomly moving the sider and it worked. If not keep trying near the bottom middle area

Jamal inherited some money when his grandmother died. He decided that he wants to invest it. His friend suggests that he goes to an OTC market. Is this a good idea?

A.
No, that is where he would go to plan his estate.

B.
No, this is where is credit is evaluated by lenders.

C.
Yes, that is a network of brokers and dealers who help with investments.

D.
Yes, this will review all of his purchases and use that information to make suggestions.

Answers

Jamal should go to the OTC market because C. it is a network of brokers and dealers who help with investments.

What is the OTC market?

These are markets where a person can buy or sell shares that are outside of the stock exchange.

The trades here are faciliatated by brokers and dealers who can help one with investments so Jamal can go to the OTC market for investment advice.

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A new building in the shape of a square pyramid is to be constructed. The slant height will be five times the side length of the base. There will be between 20,000 square feet and 50,000 square feet of construction material used for the outside of the building. What would be the maximum possible side length of the base of the building? Round your answer to the nearest foot.Please explain how to solve this problem, not just the answer. According to the signal detection theory, the detection of stimuli involves decision and sensory processes. (for anyone that needs the answer!) ( psychology) Discribe the impact of a 300 billion dollar increase in government spending where the marginal propensity is to save .20 Specific factors of a venture being offered for sale that should be examined include a. the industry growth rate. b. strength of competitive forces. c. weaknesses, opportunities, and threats. d. all of the above. above3. DIRECTIONS: Read the following two statements carefully and choose the correct options.Statement 1: In a room containing air, heat can go from one place to another by radiation only.Statement 2: In convection, heat is transferred from one place to other by actual motion of themolecules in the heated material.A) Statement (1) is correct while statement (2) is incorrect.B) Statement (2) is correct while statement (1) is incorrect.C) Both statements are correctD) Both statements are incorrect. When the soviet union attempted to install nuclear weapons in cuba, president kennedy ordered:. In an ionic bond, electrons are ___________________. Choose all the apply. (12pts + Brainlest)1. gained2. lost3. shared4. neutral What impact can deforestation have on the water cycle?. Can someone help me with this please :( Why does subduction occur at oceanic and continental plate boundaries? Please help. ASAP. This is so confusing. 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At some latertime, the crew measures the angle of elevation from point B to be 8. Find thedistance from point A to point B. Round your answer to the nearest foot ifnecessary. Consider the quadratic function f(x) = x2 5x + 12. Which statements are true about the function and its graph? Select three options. The value of f(10) = 82 The graph of the function is a parabola. The graph of the function opens down. The graph contains the point (20, 8). The graph contains the point (0, 0). 0.6 greater than 0.59? What is the 6th term in this sequence? 1, 3, 9, 27, . . . Determine the discriminant for the quadratic equation -3=x2+4x+1. Based on the discriminant value, how manynumber solutions does the equation have?realDiscriminant = b2-4acO 0O 1 O 2O 12 A random sample of 864 births in a state included 426 boys. Construct a 95% confidence interval estimate of the proportion of boys in all births. 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A lady told me that he was afraid I was angry with him for taking Daisy round at night. Well, so I am; but I suppose he knows Im a lady. I would scorn to scold him. Any way, she says shes not engaged. I don't know why she wanted you to know; but she said to me three times "Mind you tell Mr. Winterbourne." And then she told me to ask if you remembered the time you went to that castle, in Switzerland. But I said I wouldnt give any such messages as that. Only, if she is not engaged, Im sure Im glad to know it.How is the novella Daisy Miller summed up in this one passage? What does the passage tell you about the characters, plot, and theme?