Remaining Time: 1 hour, 25 minutes, 51 seconds.* Question Completion Status:QUESTION 14When the marginal revenue product of labor (MRPL) is greater than the wage (W) then:The firm should demand more labors in order to get maximum profitO The firm should use more capital to increase the labor productivityO The firm should use less capital and more labors to pay minimum costO The firm should hire less labor to pay minimum wageQUESTION 15A firm will earn normal profits when price:O Equals marginal cost (MC)O Equals average variable cost (AVC)O Equals average total cost (AC)O Exceeds minimum average total cost (AC)Click Save and Submit to save and submit. Click Save All Answers to save all answers.DEL * Question Completion Status:QUESTION 14When the marginal revenue product of labor (MRPL) is greater than the wage (W) then:O The firm should demand more labors in order to get maximum profitO The firm should use more capital to increase the labor productivityO The firm should use less capital and more labors to pay minimum costO The firm should hire less labor to pay minimum wageQUESTION 15A firm will earn normal profits when price:O Equals marginal cost (MC)O Equals average variable cost (AVC)O Equals average total cost (AC)O Exceeds minimum average total cost (AC)Click Save and Submit to save and submit. Click Save All Answers to save all answers.

QUESTION 14 When the marginal revenue product of labor (MRPL) is greater than the wage (W) then: O The firm should demand more labors in order to get maximum profit O The firm should use more capital to increase the labor productivity O The firm should use less capital and more labors to pay minimum cost O The firm should hire less labor to pay minimum wage QUESTION 15 A firm will earn normal profits when price: O Equals marginal cost (MC) O Equals average variable cost (AVC) O Equals average total cost (AC) O Exceeds minimum average total cost (AC)

QUESTION 14 When the marginal revenue product of labor (MRPL) is greater than the wage (W) then: O The firm should demand more labors in order to get maximum profit O The firm should use more capital to increase the labor productivity O The firm should use less capital and more labors to pay minimum cost O The firm should hire less labor to pay minimum wage QUESTION 15 A firm will earn normal profits when price: O Equals marginal cost (MC) O Equals average variable cost (AVC) O Equals average total cost (AC) O Exceeds minimum average total cost (AC)

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter14A: The Practice Of Revenue Management

Section: Chapter Questions

Problem 1E

See similar textbooks

Similar questions

redo queestion 1 and question 3
Case Studies Economic Development Planner You have just been hired as an economic development planner working for a businesswoman who builds large shopping stores and malls in cities. The company wants to build a regional shopping center in a nearby city that is surrounded by a large rural population. To help them conduct a feasibility study, please address the following questions. 1. What type of population-related decisions should be made to determine the best location for the shopping center? For example, is there a demand for new retail stores? 2. What type of population and related information would you need to collect to help determine the best location for the center? 3. What types of analysis would you perform with the information?
Answer question 4 only. Show all working.
Data 1:*2008 and 2013 National Demographic Health Survey showed that the percentage of womenage 15- 19 who had a live birth or is pregnant with first child had increased from 9.9% - 10.1% inthe country.*In Region 1, the percentage of women age fifteen 15 - 24 who havebegun childbearing also increased from 26% - 29%. This was attributed to the following riskybehaviors identified by the adolescents during the Regional Adolescent Congress: Early sex,Substance abuse, Pornography, VAWC (rape case), Fraternities (bad gangs) & Prostitution. Questions:1. What is the impact of the given data to mortality and morbidity rate of adolescent population? 2. What is the impact of the given data to mortality and morbidity rate of neonatal population? 3. Give at least 3 social determinants of health which are contributory factors leading to the datapresented and justify..
Over the last several decades improvements in computer software, hardware and robotics have dramatically altered the ability of machines to do complex repetitive tasks. Discuss the implications for semi-skilled skilled workersas a result of this improvement. Discuss how the cost of the new technology influences the choice of inputs used in production and the rate of adoption of the new technology. Can you please answer this question so there will be no plagiarism, you have answer for this question in your website, but more likely it is already copied by someone else
Please review the question attached (question #8) and fill in the blanks using the possible answers provided (Possible answers for question #8
Q: Determine whether the following statemnts are true or false: a) If the firm increases the volume of used resources by 30%, and the volume of production thus increases by 20%, then there is a positive effect of the production scale. b) Average fixed costs decrease as production increases. c) The economic profit usually exceeds the accounting profit.
13)Assume that the dummy variable Married=1 if married (0if not married),Sex=1 if male (0if male), and that you estimate the equation: log(wage)= B0 + B1 Married + B2*Sex +B3(Married*Sex). The estimated llog wage for an unmarried woman can be estimated by:a.B0 b.B0+B1+B2 c.B0+B1+B2+B3 d.B0+B3
If incorrect then 10 downvotes Read the following statements. i. As a result of globalisation, companies are increasingly making acquisitions around the world. ii . In the world of financial reporting, companies have increasingly moved from historical cost to fair value accounting. iii. In the new age economy, intellectual property is becoming an important driver of a company's value. Which of the above has contributed to the growth of business valuation in recent years? Pick the best answer. Question 7Select one: a. (iii) only b. (1) & (ii) only c. (i) & (ii) only d. All of the above
Please answer 18,19, 20. Thank you!. 18. When Sarah was asked to complete a financial analysis to determine next year’s price of Product X in view of mounting competition, she understood that she did not need to consider fixed costs. She had the correct understanding that fixed costs _____________. Group of answer choices a. Changed at a slower rate than direct production costs depending on product production b. Changed whenever next year’s sales reached the level of sales of the previous year c. Remained constant in the short term regardless of the amount of the product that the company produced d. Remained constant over the useful life of the product regardless of the amount of the product that the company produced 19. Rachel, the chief financial officer of Sunrise Fruit Snacks, needed to determine the company’s projected cost of capital for next year. To do so, she needed to know the following information except Group of answer choices a. The projected debt level…
QUESTION 1Coffee is now the second most traded commodity in the world after crude oil. Not only has demand for various coffee products risen sharply in Western countries in recent years, increasingly there is also greater taste for coffee drinks in developing countries such as China and India. In addition, by-products of coffee beans have become popular such as coffee leaves which can be used to brew a tea with known health benefits. However, as a natural produce, coffee plants are subject to weather conditions. Recently major producers such as Brazil have been plagued by droughts. Using the demand-supply model, explain the likely effects of these phenomena in the coffee bean market. How can a market analyst use this information to her advantage? QUESTION 2The internet and online social media in particular are giving people unprecedented ability to express their views and share information with others. On the other hand the truth of what people say online and the sheer volume of…
How much output is produced when 4 workers are hired? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.