In Marginal Benefit and Marginal Cost Functions for Activity a Are

question 26

Short Answer

In marginal benefit and marginal cost functions for activity A are
MB = 100 -0.04A
MC = 28 + 0.02A
a. The optimal level of A is _________ units at which MB = _________ and MC = ____________.
b. The 800^th unit of A increases total benefit by $_________ and total cost by $_________ thereby _____________________ net benefit by $__________.
c. The 1,400^th unit of A increases total benefit by $______ and total cost by $______ thereby _____________________ net benefit by $__________.

Understand the various types of pension and benefit plans and their characteristics.

Recognize the legal requirements for pensions and benefits within Canada.

Identify the impact of benefits programs on employee retention and attraction.

Understand the role of employee assistance programs and their benefits.

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Definitions:

Provision

An amount set aside for anticipated future liabilities or losses in the financial statements of a company.

Termination Payments

Payments made to employees when they leave a company, which can include severance pay, unused vacation pay, and other compensations.

Short-Term Employee Benefit

consists of benefits, such as salaries, wages, social security contributions, and paid annual leave, provided to employees that are expected to be settled within twelve months after the employee provides the related service.

Defined Contribution Fund

A retirement plan in which the employee and/or the employer contribute to an individual account for the employee, with the future benefit depending on the contributions made and the investment performance of the account.