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Explain why marginal physical product would diminish as

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Explain why marginal physical product would diminish as
1. more secretaries are hired in an office.
2. more professors are hired in the economics department of a college.
3. more construction workers are hired to build a school.

Select a product or service that you utilize at least once a month.

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Select a product or service that you utilize at least once a month.

1) Describe the product or service briefly,
2) If you were determining the price, what price would you set and why?
3) What type of promotion do you think would be most effective and why?

Businesses selected: Laundry Detergent. Assume the business operates in market where the nature of

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Businesses selected: Laundry Detergent.
Assume the business operates in market where the nature of competition is described as “monopolistic competition”.

Identify the factors of production (economic resources including natural, human and financial resources), and for each factor of production give an example of what might be needed to operate that business;
And explain how that factor could be used to give the business a competitive advantage.

Contrast the tradeoffs in hiring people with an internal versus external locus of control. Please be sure to

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Contrast the tradeoffs in hiring people with an internal versus external locus of control. Please be sure to include how managing and leading internal versus external persons would differ if each personality type reported to you.