1. Assume that Ms. Desdimona, the owner, and manager of the Fine Duplicating Service located near your university and she is seeking to fill a vacant position. Should she be more concerned with the average product of labor or the marginal product of labor for the last person hired? If she observes that average product is just beginning to decline, should she

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

Q: there is two answers, what is the other one?

A: Increasing the economy also raises the standard of living. The current standard of living must be…

Q: are needs that we learn during our lifetime. Multiple Choice Ethics Ideals Desires Wants Values

A: Individuals tend to have certain needs and want in order to live a life they tend to desire or wish…

Q: Much of modern economic thought believes people to be, generally speaking, rational and…

A: Almost all the major economic theories are based upon assumptions which are necessary to hold them…

Q: how do you deal with opportunity cost

A: Opportunity cost is the cost or value of the next best alternative which an individual foregoes to…

Q: solve all plea

A: Hi there , as per our guidelines we can solve only 1 question at a time . So we are solving Ques 2-2…

Q: Explain complex economic concepts to a reporter through an email pitch.

A: Hi [Reporter's Name],I hope this message finds you well. I would love to discuss two key economic…

Q: Adam picked 240 oranges from his orchard. He packed them equally in 12 bags and sent them to the…

A: Resource allocation refers to the process of distributing available resources among different uses,…

Q: Based on what you have learned so far, what is the biggest problem an economy faces and how can we…

A: In the short run, all resources are fixed but labor is a variable input and in the long run, all…

Q: Show working out and answer to h?

A: In this case, revenue generation of Tesco is given here. We have to show the evenly distributed…

Q: How did economic change and urbanization affect family life?

A: Contrary to popular belief, urbanization is considered just as much a social as an economic…

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.