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What is minimum efficient scale?What is likely to happen in the long run to firms that do not reach minimum efficient scale?Q6. State the law of diminishing marginal returns. Explain why the marginal cost of production must increase if the marginal product of a variable resource is decreasingQ7. Watch the following video clip Costs of prisons and answer the following questions. Why do you think the government worries about increasing number of prisoners?Explain your answer. b.

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Our goal is to become among the biggest players on the internet. Ingmar Rentzhog, We Dont Have Time, December 22, 2017, Nordic Business Insider On August 20, 2018 a tweet featuring a photo of a Swedish girl sitting on a sidewalk was released by the tech company, We Dont Have Time, founded by its CEO Ingmar Rentzhog:One 15 year old girl in front of the Swedish parliament is striking from School until Election Day in 3 weeks Imagine how lonely she must feel in this picture. People where just walking by. Continuing with the business as usual thing. But the truth is. We cant and she knows it!Rentzhogs tweet, via the We Dont Have Time twitter account, would be the very first exposure of Thunbergs now famous school strike.

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Web. 02 Jan. 2013. Last name, First name. "Article Title. " Website Title. Month Date, Year of publication. Accessed Month Date, Year of access. URL. Limer, Eric. Heck Yes!The First Free Wireless Plan is Finally Here.

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, 1994. It is possible that some of these differences can be attributed to other factors such as age. Younger workers and older workers value different things and the meaning of work varies by age Smith, 2000. With this is mind, it is possible that age, or other external factors, might play a part in which equity sensitivity group an individual is likely to be in. According to equity theory, perceived inequity comes from social comparisons Adams, 1965. A person to whom we compare ourselves to is called the Comparison Other. There are several factors that an employee can use in determining the "comparison other. " The determination could be based on gender, length of service at their current position, job experience or education level. The comparisons are: For example, a newly hired employee would choose "self outside" since they would not have adequate experiences to compare in their current place of employment, whereas someone with a longer length of service would choose "self inside". Equity Theory states that people strive hard to achieve and maintain a state of equity or fairness in order to maintain internal, psychological balance Adams, 1965. However, when ratios are different, a state of inequity exists, and employees will be motivated to bring it back into balance.