If we know the marginal product of labor for every unit of labor, we can derive ___. If A + L = 68, K = 108, the marginal product of labor is 6, and the marginal product of capital is 6, what is the marginal rate of technical substitution? Marginal physical product...
How is AT&T's marginal product of labor related to the value of its marginal product? What is the difference between the law of diminishing marginal product and the law of variable proportions? Explain the differences between diminishing marginal utility and diminishing ma...
value created by the unpaid labor of wage workers, over and above the value of their labor power, and appropriated without compensation by the capitalist. Surplus value is a specific expression of the capitalist form of exploitation, in which the surplus product takes the form of surplus value...
Here at Home Economics, much thought is given to the distribution of labor and resources throughout all facets of life. In the twentieth century, the economy is talked about as if held in a sphere of its own nested in greater society, with the government sitting on high, ready to use it...
cheap goods for decades, but the signs of the wheels coming off that cart have been happening for at least five years, as we’ve seen even the Chinese farm business into Vietnam and Cambodia in search of cheap labor, and develop connectivity into Africa as a future zone of cheap labor....
the Labor government granted the Palestinians a foothold in the West Bank at the onset of the process and committed to a reasoned dialogue about a number of issues that Is-rael had previously refused to discuss, such as the right of return and the establishment of a Palestinian capital in Ea...
They are paying the staff whether that cup of coffee is purchased or not. Thus, it does not contribute to marginal profit. Labor would be included, however, if labor costs vary based on whether a service is performed or a product is sold. For instance, maid services that pay...
Scrap value or salvage value is the worth of equipment after it has been used for its useful life. Sometimes the actual value that can be fetched is more or less than the expected value. The actual scrap value depends on the condition of the equipment....
” In fact, one of the main benefits of digitalization in GVCs is the expected increase in productivity due to the automation of production and the substitution of labor with capital (or the readjusting of the activities performed by labor), making in-house production more viable (Ancarani, ...