Suppose you run a flower-delivery business andemploy college students to drive the vans and makedeliveries. You are considering hiring an additionalworker. What information would you need toknow to decide whether doing so would increaseor decrease your profit?

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A: As per the honor code, we are allowed to attempt only first three sub-parts of the question. If you…

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A: GIVEN   U ( L , C ) = C ( L + 8 )  MRS = L + 8 / C

Q: Solve for the MRP at A B, and C. Use this formula: MRP = change in TR/ change in Quantity of Factor…

A: Marginal revenue product is the additional revenue earned due to an additional unit of factor hired.…

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A: The opportunity cost of capital is how much capital has to give up to hire one more labor.…

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Q: Quèstion 18 The return for using land is called: O Wage O Interest O Normal profit Rent

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Q: What is the definition of Marginal Revenue Product? Give an example

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A: Given:

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Q: How will automation affect the unskilled labor,

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A:

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Q: what do you understand by equi marginal principal? explain

A: Equi marginal principal has been explained as follows

Q: Calculate the value of NDPFC If :- Compensation of employees = $600 million Operating surplus =…

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A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only the first…

Q: 30 25 20 15 10- 1 3 5 6. 8. Labor 10- 4) 2. Marginal Product

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Q: What is division of labour

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