AnActualTrashcan
14.05.2021 •
Business
In a perfectly competitive labor market marginal resource cost is: Multiple Choice the market value of the firm's output times the number of workers employed always zero the wage rate times the number of workers employed the wage rate
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Ответ:
the wage rate
Explanation:
The marginal resource cost for labor is the additional amount that a producer would have to pay to be able to get an additional worker to work under them and produce goods.
This is therefore the wage rate because it is the amount that the worker will be paid. This wage rate is determined by market forces in a competitive market which means that it is based on demand and supply; if more people are needed, the wage rate is higher and if less are needed, the wage rate is lower.
Ответ:
42 months
Explanation:
On an 8% straight term loan of $6,071
The borrower paid a total interest of $1,700 on the loan
Therefore, the term of the loan can be calculated as follows
=$6,071×8/100
= $6,071×0.08
= 485.68
Since there are 12 months in a year
= 485.68/12
= 40.47
$1,700/40.47
= 42
Hence the term of the loan is 42 months