Suppose that a skilled Brain surgeon Also happens To be the world fastest typist.Should She do her own typing or hiring a secretary?explain

Q: The notion of outsourcing has been highly controversial for several decades.Why?

A: Individuals are named jobless on the off chance that they don't have some work, have effectively…

Q: Explain how two companies in the same area, hiring identical workers, could pay them different…

A: There are many factors that will be the deciding factor for salary imposition, it can be either the…

Q: Suppose you run a flower-delivery business andemploy college students to drive the vans and…

A: While establishing and operating any business, the most important thing to consider is factors of…

Q: At what level of production does the marginal cost have the least value? What is the marginal cost…

A: The marginal cost curve is the U-shaped curve.

Q: For a supermarket, would the overtime paid to the store's manager be classified as a fixed cost?…

A: In accounting and economics, fixed costs, also known as indirect costs or overhead costs, are…

Q: labor of a clinic

A: Labour includes people doing both physical work as well as mental work being undertaken for some of…

Q: What is meant by an inferior factor of production? How would the firm’s demand for labour be altered…

A: In economic representations, factors of production can be described as inputs that are utilized for…

Q: What conditions are necessary for arbitrage to work?

A: In arbitrage , a financial investor finds different business sectors for a resource. In some cases…

Q: Briefly describe how labor unions can affect wages in non-unionized industries.

A: A labor union is an institution or organization established by workers in a specific industry,…

Q: If workers are getting paid $8/hour, will the company have enough workers? How do you know?

A: Surplus: The situation of surplus in an economy exists at a price that is greater than the…

Q: To save money, some fast food chains are now having their customers place their orders at computer…

A: The introduction of the computer kiosks and the people ordering food using those kiosks only will…

Q: Would the owner of a profit-maximizing clothing store hire another worker for $85 per day if the…

A: Answer Is given below...

Q: If output per per person is .25 and the wage rate is 10,what is the average variable cost?

A: Answer: Given, Output per person=OutputL(units of labor)=0.25Wage rate(W)=10 To find, Average…

Q: How do you explain the impact of working overtime on the number of defective products per worker in…

A: The word 'overtime' is defined as the work done by employees after their shift timing. The…

Q: What is managerial economics? (only 30 words)

A: Economics is a social science that studies how products and services are produced, distributed, and…

Q: Suppose Georgette earns $13 an hour installing transistorized digital chips in electronic…

A: Answer in Step 2

Q: The following table gives output for different numbers of workers for Shiny Sleeves, a producer of…

A: Given wages per hour = 10 $ Marginal product = change in Output / change in workers Total wage cost…

Q: "Schumacher agrees with Adam Smith's claim that a division of labor is beneficial to workers." True…

A: Division of labor is defined as the separation of a production process into a number of different…

Q: What are the disadvantages of division of labor?

A: Labor division depicts the process where production break up into smaller process and each process…

Q: Luke is not very experienced with Excel and thus, like many people, doesn’t know how to exploit its…

A: It is important that luke understands the importance of technology to increase efficiency. I would…

Q: Jane is the general manager at a new café and wants to hire a few baristas. The going rate for…

A: Jane would generally pay $9.55 per hour as this is the price that is already prevailing in the…

Q: Q50 Justin Trudeau, who owns a barbershop in Ottawa, charges $8 per haircut. By hiring one barber…

A: The formula:Marginal product =Change in total productMPL(2)=42-22=20MRPL=MPL* priceMRPL(2)=20*8=$160

Q: What is an isocost line?

A: An isocost line is a graph which is made up of the combination of labor and capital or any two…

Q: Are unions and technological improvements complementary?

A: Unions - It is the action of joining.

Q: How will automation affect the unskilled labor,

A: Automation:It is a technology by which the task is performed with the help of minimum human…

Q: In some companies, customer service is carried out by the salesperson. In others, it is…

A: Merging two departments, such as sales and customer service, only makes sense when the benefits are…

Q: At $300 per day what is the maximum number of mechanics Craig should hire?

A: A market is a place which facilitates the interaction between the producers and the consumers on the…

Q: Explain how you can make sure that workplace resources are used in an efficient, cost-effective, and…

A: The global markets are now highly competitive and businesses need to save every penny and invest…

Q: Jane is the General Manager at a new café and wants to hire a few baristas.  The going rate for…

A: Wage is a payment or sum of money paid to the employees or laborers for the work they do, it is…

Q: QUESTION 7 · 1 POINT The following chart shows the number of workers and hourly wage rate required…

A: Answer: Cost=units of workers at 9 output level×Wage rate per hourCost=4.97×15.46Cost=76.84

Q: What is managerial economics? (only 50 words)

A: Economic analysis is the study of how individuals, organizations, and governments allocate resources…

Q: The human resource manager of the Culinary Chameleon makes the following claim: “Our workers make an…

A: Output each week=$4500Now,If the firm wants to pay $400 per week than:Number of workers…

Q: What is division of labour? Discuss some of the types of division of labour?

A: In any economic system or organization, the division of labor is the separation of tasks so that…

Q: .Consider a small, remote town with only one employer - a pulp and paper mill. Suppose there are…

A: As per the question, Initial number of workers= 600 workers Initial wage received by a worker= $5000…

Q: Advancing women's equality could increase global economic growth by $12 Trillion by 2025, according…

A: Gender inequality is both a moral and a social issue, as well as a serious economic problem. The…

Q: Cosidering that benefits can be quite expensive for an employer, please explain how benefits can be…

A: While numerous organizations comprehend the significance of strategic planning and invest a lot of…

Q: 30 25 20 15 10- 1 3 5 6. 8. Labor 10- 4) 2. Marginal Product

A: Marginal product refers to change in total product with respect to change in input. It refers to…

Q: How can a programmer profit from the ability to learn new languages, even if they are already…

A: A programming language is a type of  computor language which is written and tells computers what to…

Q: During last summer you agreed with your neighbors to mow their lawn for $20 per hour of work. This…

A: The wages are the payment made by the employer to the temporary labor who works according to hours…

Q: Would the owner of a profit-maximizing clothing store hire another worker for $85 per day if that…

A: For a profit-maximizing firm, the point up to which workers can be hired is contingent upon the…

Q: What kind of division of Labour do we see in the automobile industry?

A: ‘Division of Labour’ is the main process of production splitting up into many simple parts.…

Q: What is division of labour

A: Labor is an important factor used by the business companies along with other factors like capital…