Answer:
The answer is "The wage rate will fall and employment will be increased until the new wage rate is equal to MRP.
Explanation:
Firms always try to maximize their profit. Therefore when they hire labor, the increase in labor costs must be lower than the labor's increase to the firm's total revenue. And this forms the "Marginal Revenue Productivity" which is simply the theory that suggests "Wages are paid at a level that is equal to the value of the marginal product of labor". Supply of labor is a function that is inversely proportional with wage rate. So if the supply of labor increases, the correct answer is that "The wage rate will fall and firms will increase employment until MRP equals the new wage rate." Hope this was helpful.
Answer:
self financing
Explanation:
self-financing is an arrangement of taking care of mortgage by the seller instead of by finance institution. In this arrangement mutual understanding is set up between the buyer and seller on mortgage. some amount of money is set aside as down payment by the buyer to the purchaser and the desired installment has made for further deposition of loan.
Answer:
The three types of production technology defined by James D. Thomson are;
1. Long-linked technology
2 Mediating technology and,
3. Intensive technology.
Explanation:
James D. Thomson proposed that different types of technology would determine the organizational strategy used by some organizations. A Mechanistic structure is an organizational structure that requires a high degree of formalized and centralized activity. An Organic organizational structure is very dynamic and programmed to easily adapt to change. Three of the technology types proposed by him include;
1. Long-linked Technology- These are jobs that require an organized sequence. Task A is completed before task B and then Task C. They require formalization and an average level of complexity. An example is mass production of goods. It is an organic structure because changes can easily occur and it would therefore require dynamism.
2.Mediating Technology- These are jobs that unite the two different aspects of an organization, namely, the input and output units. They require low complexity and high formalization. An example is in the banking industry where peoples input and output are simultaneously attended to. It is a mechanistic structure because it requires a very formal arrangement.
3. Intensive Technology- These are jobs that give specialized care to different types of problems. It can be found in the hospital setting. It requires high complexity and low formalization. It is a mechanistic structure because of the specialized care rendered and the high level of interdependence of the units involved .
Answer:
right to <u>the consumer</u>.
Explanation:
According to the customer bill of rights, in this doctrine the consumers' enthusiasm should obtain adequate and compassionate deliberation in the formulation of the government strategy is identified as the right to<u> the consumer</u>. Proceeding from March 15 the year 1962, President John F. Kennedy portrayed a conversation to the Congress of the US in which the president extolled 4 fundamental customer powers, following described as Consumer Bill of Rights. The UN by the UN guide-manual for Consumer Protection extended those into 8 equities, and consequently, Consumers International affirmed those equities as law and began identifying on 15 of the March as World Consumer Rights.
Answer:
I.Communicates business activities
II.Identifies business activities
III.Records business activities
IV.Helps people make better decisions
Explanation:
Accounting is an information measurement system that identifies business activities, records the business transactions as they occur, in order in which they occur, communicate the result of operations to interested parties which helps all the stakeholders make informed decision.
The main goal of accounting information is to communicate the true and fair view position of the entity to people that may want to make informed judgment on the entity.