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- Calculate the Marginal Product (MP) at each input level. If the price of printer is $100 each, calculate the Value of the Marginal of labor (VMPL). If the wage rate (per week) is $1800 , how many workers will be employed? If the firm decides to hire 14 workers, what is the maximum wage the firm would be willing to pay?You run a school in Florida. Fixed monthly cost is $5,837.00 for rent and utilities, $6,127.00 is spent in salaries and $1,459.00 in insurance. Also every student adds up to $103.00 per month in stationary, food etc. You charge $684.00 per month from every student now. You are considering moving the school to another neighborhood where the rent and utilities will increase to $10,946.00, salaries to $6,128.00 and insurance to $2,040.00 per month. Variable cost per student will increase up to $166.00 per month. However you can charge $1,042.00 per student. How much do you currently charge per student? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.You run a school in Florida. Fixed monthly cost is $5,755.00 for rent and utilities, $5,797.00 is spent in salaries and $1,680.00 in insurance. Also every student adds up to $103.00 per month in stationary, food etc. You charge $672.00 per month from every student now. You are considering moving the school to another neighborhood where the rent and utilities will increase to $11,825.00, salaries to $6,682.00 and insurance to $2,164.00 per month. Variable cost per student will increase up to $171.00 per month. However you can charge $1,143.00 per student. At what point will you be indifferent between your current mode of operation and the new option? Submit Answer format: Number: Round to: 0 decimal places.
- You run a school in Florida. Fixed monthly cost is $5,524.00 for rent and utilities, $5,671.00 is spent in salaries and $1,362.00 in insurance. Also every student adds up to $101.00 per month in stationary, food etc. You charge $609.00 per month from every student now. You are considering moving the school to another neighborhood where the rent and utilities will increase to $10,214.00, salaries to $6,918.00 and insurance to $2,219.00 per month. Variable cost per student will increase up to $161.00 per month. However you can charge $1,051.00 per student. You want to determine in percent the new charge compared to the previous charge. To calculate this, divide the new charge per student by the previous charge per student, keep in a decimal form and round to 3 decimal points.Tim works 51 hours per week, and his wage is $20 per hour. If his wage increases to $40 per hour, and his labor supply curve is downward-sloping, this means:You run a school in Florida. Fixed monthly cost is $5,909.00 for rent and utilities, $5,531.00 is spent in salaries and $1,775.00 in insurance. Also every student adds up to $98.00 per month in stationary, food etc. You charge $683.00 per month from every student now. You are considering moving the school to another neighborhood where the rent and utilities will increase to $11,500.00, salaries to $6,043.00 and insurance to $2,370.00 per month. Variable cost per student will increase up to $158.00 per month. However you can charge $1,162.00 per student. How much do you currently charge per student?
- Weiwei gets a part-time job in high school that pays $5 per hour with flexible hours. Shechooses to work 6 hours per week, earning $30 per week. After a while, her job reduces herpay to $4 an hour. In response, she cuts back to working 5 hours per week, earning only$20 per week. Weiwei’s parents feel bad about the pay cut, and decide to give her a weeklyallowance, in cash, to make up for it. If they want to get her back to her old utility level,how much should they give her and why? (Select one answer from below) : (a) $10: that is her total amount of lost earnings(b) Between $10 and $6: that is the income effect minus the substitution effect(c) Between $10 and $6: leisure is a luxury good for high school students(d) $6: that is how much she would have lost if she kept working 6 hours(e) $5: the substitution effect offsets the change in labor hours(f) Between $6 and $0: she will substitute away from labor at the old bundle(g) Between $5 and $0: a pay cut is like a negative in-kind…Edie chooses to work 90 hours per week when the wage rate is $16 per hour. If she is offered time-and-a-half ($24 per hour) for “overtime work” (i.e., hours in excess of 90 per week), will she choose to work longer hours? Support your results with a diagram.A manufacturing company leases a machine for $31,000 per year. Each unit produced costs $36 in labor and $65 in materials. To break even, 21,000 units must be sold. What is the price of the product?
- Calculate the size of the workforce needed for the companyto meet average weekly demand.Your construction company has built 50 houses so far this year at a total cost to the company of $8 million. If the company builds a 51st house, its total cost will increase to $8.18 million. What is the marginal cost of the 51st house?Jane is the General Manager at a new café and wants to hire a few baristas. The going rate for baristas is $15 per hour. Jane has heard that many of the local coffee shops have high turnover with baristas “ghosting” them – simply not showing up for their shifts and never coming back. Jane starts to put together an advertisement to hire baristas for $15 per hour, but changes her mind and lists the wages she will pay at $20 per hour. Why would Jane pay $15 per hour? What’s her rationale for paying $20 (or any wage higher than $15)?