(Table) You run a smoke shop in Colorado where the market price of a hand rolled joint is $10. How many workers should you hire to roll joints if the going wage rate is $400 per day and you are trying to maximize profits? Labor (number Quantity of hand rolled of joints per day workers) 1 20 2 60 110 34 56 3 05 4 02 170 210 230
Q: pls help asap on both
A: Impact tests are crucial in materials testing to assess the ability of a material to withstand…
Q: None
A: Approach to solving the question: Times when the mutual funds beat the S&P index = 27 Total…
Q: pls help asap on both
A: 1. In ultrasonic testing of welds in stainless steels, a coarse grain size can pose difficulty…
Q: San Francisco has rent control policies that limit the annual increase in rent by 2-3% (sometimes…
A: San Francisco's rent control laws would probably be repealed, which would have a number of effects…
Q: Question 3 Q.3.1 (Marks: 30) Frikkie's marginal utility and total utility from the consumption of a…
A: Ans. ) Given the question, the main task is to find the missing values in the given utility table...…
Q: 1)How many years will it take to pay off a$525debt, with monthly payments of$15at the end of each…
A: Step 1:A) To calculate the number of years it will take to pay off the debt, we can use the formula…
Q: PLS HELP ASAP ON BOTH
A: Question 2:Nelson may retain a copy of the RDI in the client file with detailed notes to confirm…
Q: do fast and don't chagptanswer i will 5 upvotes.
A: Understanding Pigovian Tax:-A Pigovian tax is a tax imposed on any market activity that generates…
Q: help please answer in text form with proper workings and explanation for each and every part and…
A: The problem requires the determination of the future value. Future value is the amount of the…
Q: help please answer in text form with proper workings and explanation for each and every part and…
A: Approach to solving the question: The problem provides a detailed guidance for solving the problem,…
Q: None
A: First, let's analyze the given data: To make things easier, let's make supply and demand schedule by…
Q: Beth bought some residential development property for 200,000 five years ago. She sold the property…
A: Step 1: First we compute the Capital Gain, that is given by: Capital Gain = Selling price -…
Q: pls help asap on both
A: 1. Film processing involves several chemical steps to develop and fix the image captured on the…
Q: Chegg Home Expert Q&A My solutions Student question Time Left: 00:09:45 What will be the difference…
A: To calculate the GDP per capita, you divide the Gross Domestic Product (GDP) of a country by its…
Q: help please answer in text form with proper workings and explanation for each and every part and…
A: a. To increase Store Supplies:Debit: Increasing Store Supplies means you are purchasing more…
Q: PLS HELP ASAP ON BOTH
A: 1. In shielded metal arc welding (SMAW), the electrode serves dual purposes: it acts as a filler…
Q: help please answer in text form with proper workings and explanation for each and every part and…
A: A recessionary gap, also known as a contractionary or negative output gap, refers to a situation in…
Q: h Figure 23 Supply and demand curves P₁ Price (dollars P per unit) P₁ D 0 Q a 8 S D Quantity of good…
A: Option a is correct; A shift in the supply curve occurs when there is a fluctuation in the…
Q: PLS HELP ASAP ON BOTH
A: 1. A beta value of one indicates the level of risk associated with a certain investment in…
Q: When a tax is collected from the buyers in a market,. a. the tax burden falls most heavily on the…
A: Option b: This option is correctThe correct answer is: b. The buyers bear the burden of the tax.The…
Q: PLS HELP ASAP ON BOTH
A: In assessing the impact of heat input on a weld, understanding the rate of heating, maximum…
Q: True or False: When an online job application asks for your Social Security Number, you should only…
A: Your Social Security Number (SSN) is a unique identification number issued to you by the Social…
Q: PLS HELP ASAP ON BOTH
A: Answer 1: Strategic asset allocationBased on the investor's risk tolerance, financial goals, and…
Q: Please give the right exact answer. A number answer. No need for wordy long sentence answer.
A: The graph presents the aggregate marginal mitigation cost (AMMC) curve and the marginal harm (MD)…
Q: the maintenance costs of a small welding machine are initially $400 per year. with age the cost…
A: a) **Cash Flow Diagram**:In the cash flow diagram, we represent the cash flows associated with the…
Q: help please answer in text form with proper workings and explanation for each and every part and…
A: For Brooklyn choosing IPA:Profit of Bronx if chosen IPA = 90 (better)Profit of Bronx if chosen…
Q: Exercise 1.4. There are two players. Each player is given an unmarked envelope and asked to put in…
A: a) The required table is below: b) c)A strictly dominant strategy is a concept in game theory where…
Q: Disposable income (trillions of 2012 dollars) Consumption expenditur (trillions of 2012 dollars) 0.0…
A: The objective of the question is to determine the point at which savings equals zero in the nation…
Q: PRICE LEVEL 30 INTEREST RATE (Percent) Suppose the money market for some hypothetical economy is…
A: The decrease in the price level from 90 to 75 in the hypothetical economy has a significant impact…
Q: Q. 10: Calculate a deadweight loss in a monopoly market with a constant marginal cost of 2 and a…
A: The objective of this question is to calculate the deadweight loss in a monopoly market with a given…
Q: None
A: Introduction to Microeconomics:Microeconomics is a branch of economics that studies the behavior of…
Q: 4) Application problems (Topic 9 & 10) Perfect Competition versus Monopoly: A small country town is…
A: a.The equilibrium price and quantity in the competitive market will be determined by the…
Q: K Development projects done by Standalone Products are subsidized by a govemment grant program. The…
A: Given informationTwo projectCheckweigher and SchedulerCheckweigher ProjectFirst cost =$32000Annual…
Q: 2. The Prairie Rose is considering selling their cinnamon rolls at gas stations. To attract more…
A: Step 1: Step 2:Step 3:Step 4:
Q: PLS HELP ASAP ON BOTH
A: (1) 'GMAW' is Gas-Metal arc welding process. It is a process to weld metals using arc. The gases are…
Q: Explain all option compulsary......you will not explain all option then I will give you down…
A: In the scenario described for Culture Comics, Segment A of the diagram refers to the flow from the…
Q: Answer everything in the photo
A: Explanation- 1. **Total and Marginal Cost Analysis**: - Total Cost (TC) represents the entire cost…
Q: You will be living in a new city for 24 months, and you will need a car while you're there. You can…
A: To calculate the present worth of the lease option, we need to calculate the present value (PV) of…
Q: PLS HELP ASAP ON BOTH
A: Question 2:The ABBA Canadian Equity Fund is set up as a mutual fund trust. This means that it…
Q: PLS HELP ASAP ON BOTH
A: Question2:In a normal yield curve, short term rates are lower than long term rates. A normal yield…
Q: The figure below shows the market for higher education. The market demand curve for higher education…
A: Given that the subsidy provided by the government is $6,000 per student, and it equals the…
Q: Suppose that Francie Pantsie sells designer jeans in Imaginville and earns a monthly salary of…
A: Formula for optimum level of cash:C* = √(2FT/i)where, C = optimum level of cashF = Fixed cost of…
Q: PLS HELP ASAP ON BOTH
A: Step 1: Step 2: Step 3: Step 4:
Q: Is there a best way to deal with the trilemma?
A: FEEL FREE TO ASK FOR CLARIFICATIONS
Q: 5. Suppose the Malaysian government announced that the country will move to a fixed exchange rate…
A: If the true equilibrium exchange rate is at 3 Ringgit to 1 USD, but the government has set the fixed…
Q: Using appropriate examples, clearly demarcate between fiscal and monetary policies.
A: Both fiscal and monetary policies are important methods through which policymakers aim to affect the…
Q: pls help asap on both
A: 1. When welding quenched and tempered steels, the use of weave-beads is recommended only if preheat…
Q: pls hekp asap
A: I've included extra information for a deeper comprehension. If necessary, you can add them;…
Q: How does the government regulate and deregulate? What are two examples of how the government…
A: The objective of this question is to understand how the government regulates and deregulates…
Q: Please help me with 1 and 2. Thank you 1. Several countries have opted to join currency unions.…
A: 1. Currency Unions and the Policy TrilemmaThe policy trilemma in international finance states that…
am. 114.
Step by step
Solved in 2 steps
- (TCO C) You have been hiredto manage a small manufacturing facility whose cost and productiondata are given in the table below.No. of workers Total LaborCost Output TotalRevenue 1 $150 100 $170 2 300 108 550 3 450 114 1150 4 600 119 1470 5 750 123 1600 6 900 125 1700 7 1050 126 1750 What is the marginal product of the secondworker?(TCO C) You have been hiredto manage a small manufacturing facility whose cost and productiondata are given in the table below.No. of workers Total LaborCost Output TotalRevenue 1 $150 100 $170 2 300 108 550 3 450 114 1150 4 600 119 1470 5 750 123 1600 6 900 125 1700 7 1050 126 1750 Based on your knowledge of marginal analysis, how manyworkers should you hire? Explain youanswer.workers ouput marginal product total cost average total cost marginal cost 0 0 0 200 0 $0 1 20 20 300 $15 $5 2 50 30 400 $8 $3.33 3 90 40 500 $5.56 $2.50 4 120 30 600 $5 $3.33 5 140 20 700 $5 $5 6 150 10 800 $5.33 $10 7 155 5 900 $5.8 $20 a.) can you explain dimisnishing marginal product based on those numbers? b.) compare the column for average total coat and the column for marginal cost. Explain the relationship.
- The paper factory employs 470470 workers, producing 1,3001,300 tons of paper per month. Hiring 2020 more workers will increase the output by 5050 tons of paper.Calculate the total product for the next additional 2020 workers if their marginal product is 1010 tons of paper per month. Enter your answer in the box below and round to the nearest whole number if necessary.(a) The table below shows the relationship between number of workers hired and output. Total Total Marginal Marginal Price Labour Product (unit) Revenue Revenue Product (RM) (RM) Product 20 1 50 20 2 90 20 3 20 600 4 20 400 20 200 155 20 Complete the table.(TCO C) You have been hiredto manage a small manufacturing facility whose cost and productiondata are given in the table below.No. of workers Total LaborCost Output TotalRevenue 1 $150 100 $170 2 300 108 550 3 450 114 1150 4 600 119 1470 5 750 123 1600 6 900 125 1700 7 1050 126 1750 What is the marginal product of the secondworker? What is the marginal revenue product of the fourthworker? What is the marginal cost of the fifth worker?Based on your knowledge of marginal analysis, how manyworkers should you hire? Explain youanswer. QUESTION TITLE :- 7. (TCO C) You have been hired to…
- 15) In a competitive labour market, firms will hire labour up to the point where themarginal revenue product of labour equals(a) total labour cost.(b) the wage rate.(c) the marginal product.(d) the price of the product.Units of Labor 0 1 2 3 4 5 Quantity of Output 0 10 25 32 38 43 Product Price $17 $16 $15 $14 $13 $12 Marginal Revenue Product (A) (B) (C) (D) (E) 2 Use the table above. Assume all figures in the table pertaining to labor productivity are per-hour. 1. If the wage is $25 per hour, this firm should hire [Select] 2. If the wage is $50 per hour, this firm should hire [Select]2. Graphing demand for labor and computing the optimal quantity of labor demanded A company operates in a competitive market, selling each unit of output for a price of $20 and paying the market wage of $330 per day for each worker it hires. In the following table, complete the column for the value of the marginal product of labor (VMPL) at each quantity of workers. Labor Output Marginal Product of Labor Value of the Marginal Product of Labor (Number of workers) (Units of output) (Units of output) (Dollars) 20 1. 20 19 2 39 18 57 15 72 12 84 On the following graph, use the blue points (circle symbol) to plot the firm s labor demand curve. Then, use the orange line (square symbols) to show the wage rate. (Note: If you cannot place the wage rate at the level you want, move the two end points individually.) Hint: Remember to plot each point halfway between the two integers. For example, when the number of workers increases from 0 to 1, the value of the marginal product for the first…
- A perfect competitor charges a price of $30. The first worker he would hire would have a marginal physical product of 20, the second worker he would hire would have a marginal physical product of 18, the third worker would have a marginal physical product of 16, and the fourth worker would have a marginal physical product of 14. (a) How many workers would he hire if the wage rate were $540? worker(s) hired How much would his wage bill be? $ wage bill (b) How many workers would he hire if the wage rate were $470? worker(s) hired How much would his wage bill come to? $ wage bill.(a) Assuming working at home gives you a wage of $100, what would your wage be working in thecubicle office? In the shared workspace?(b) What is the compensating wage differential between these jobs?(c) Explain why the wage is different in each situation, and give an example of another industry-/situation with a compensating wage differential.Mc Graw c) Assuming that the cost of employing each worker is $220 per day (including wages and materials), and Custom Made Pot has daily fixed costs of $400, fill in Table B given below: Round your AVC and MC answers to one decimal place. Number of 2 WorkersOutput TVC($) 3 4 S TP 6 10 80 180 240 Quantity of labour 280 294 TFC Table B TC AVC($) ATC MC($) Prev 1 of 8 SAMSUNG Next >