Illustrates the term shot run production function
Illustrates the term shot run production function?
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Shot run refers to a period of time wherein the supply of exact inputs (for example: plant, machines, and building) are inelastic or fixed. Therefore, an increase in production during this period is possible only through increasing the variable input. In several Industries, short run may be a matter of few weeks or some months and in some others this may extent still up to three or more years.
Signaling: (w) attempts to finesse adverse selection. (x) involves behavior by agents to communicate special qualifications which will elicit the offer of a contract from a principal. (y) refers to potential employees obtaining skills, education or ex
Explain the modern definition of economics?
Increasing the wage rate increases total wages received through workers when the demand for labor is: (w) relatively elastic. (x) relatively inelastic. (y) unitarily elastic. (z) perfectly elastic.
When this purely competitive labor market is primarily in equilibrium at D0L, S0L and after that excessive job safety standards are imposed through law, a new equilibrium will be attained at: (1) D0L, S0L. (
A firm maximizes profit through hiring labor at the point where labor’s: (1) marginal physical product equals its average physical product. (2) marginal revenue product equals its marginal resource cost. (3) rate of exploitation is greatest. (4)
When the wage rate paid for labor raises, in that case the: (1) supply of labor increases (2) opportunity cost of leisure rises. (3) workers always supply more labor. (4) level of national income increases. (5) opportunity cost of leisure falls.
Illustrates the Regression and Correlation statistical method of Demand Forecasting?
An assumption regarding purely competitive labor markets to make sure market clearing is which: (w) firms maximize profit. (x) individuals and households maximize utility. (y) wages and prices are flexible. (z) trade unions engage in collective bargai
The social value of the extra output by additional units of labor is: (1) marginal revenue product of labor. (2) price of labor. (3) average revenue product of labor. (4) value of the marginal product of labor. (5) marginal resource cost of labor. Q : Occupational Crowding in Wage Disadvantaged groups have historically been pressured toward low wage jobs in a procedure termed as: (1) occupational crowding. (2) labor staggering. (3) systemic discrimination. (4) reverse favoritism. (5) nepotism. Discover Q & A Leading Solution Library Avail More Than 1415919 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1928065 Asked 3,689 Active Tutors 1415919 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
Disadvantaged groups have historically been pressured toward low wage jobs in a procedure termed as: (1) occupational crowding. (2) labor staggering. (3) systemic discrimination. (4) reverse favoritism. (5) nepotism. Discover Q & A Leading Solution Library Avail More Than 1415919 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1928065 Asked 3,689 Active Tutors 1415919 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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