A clothing company can use one of the following four production processes to produce 5,000 garments per month. Which production process is the most productively efficient? One that involves 30 workers and 50 machines One that involves 20 workers and 20 machines One that involves 20 workers and 50 machines One that involves 30 workers and 20 machines

A clothing company can use one of the following four production processes to produce 5,000 garments per month. Which production process is the most productively efficient? One that involves 30 workers and 50 machines One that involves 20 workers and 20 machines One that involves 20 workers and 50 machines One that involves 30 workers and 20 machines

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 4CQQ

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2. Inputs and outputs Kevin's Performance Pizza is a small restaurant in Chicago that sells gluten-free pizzas. Kevin's very tiny kitchen has barely enough room for the two ovens in which his workers bake the pizzas. Kevin signed a lease obligating him to pay the rent for the two ovens for the next year. Because of this, and because Kevin's kitchen cannot fit more than two ovens, Kevin cannot change the number of ovens he uses in his production of pizzas in the short "un. 因 However, Kevin's decision regarding how many workers to use can vary from week to week because his workers tend to be students. Each Monday, Kevin lets them know how many workers he needs for each day of the week. In the short run, these workers are inputs, and the ovens are inputs. Kevin's daily production schedule is presented in the following table. Fill in the blanks to complete the Marginal Product of Labor column for each worker. Labor Output Marginal Product of Labor (Number of workers) (Pizzas) (Pizzas) 1.…
Teresa is a hard-working second-year university student. One Thursday, she decides to work nonstop until she has answered 100 practice problems for her physics course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem. Time 8:00 AM 9:00 AM 10:00 AM 11:00 AM Noon Total Problems Answered 0 40 70 90 100 Use the table to answer the following questions. The marginal, or additional, gain from Teresa's second hour of work, from 9:00 AM to 10:00 AM, is The marginal gain from Teresa's fourth hour of work, from 11:00 AM to noon, is problems. problems. Later, the teaching assistant in Teresa's physics course gives her some advice. "Based on past experience," the teaching assistant says, "working on 35 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during…
Table 13-7 The Flying Elvis Copter Rides Quantity Total Fixed Variable Marginal Average Average Average Cost Fixed Variable Total Cost Cost Cost Cost Cost Cost $50 $50 $0 $150 A G 1 B C E F 2 $120 K L 3 M IN IP $120 R Refer to Table 13-7. What is the value of O? $40 $360 $140 $410
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13. Bibbins Manufacturing produces softball and baseballs for youth recreation leagues. Each softball costs $11 to produce and sells for S17 while each baseball costs $10.50 and sells for $15. The material and labor required to produce each item is listed here along with the availability of each resource. Amount Required Per Amount Resource Softball Baseball Available Leather Nylon Core 5 oz 6 yds 4 oz 2.5 min 1 min 6,000 oz 5,400 yds 4,000 oz 3,500 min 1,500 min 4 oz 3 yds 2 oz Labor 2 min Stitching 1 min a. Formulate an LP model for this problem. b. Sketch the feasible region. c. What is the optimal solution?
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2. Inputs and outputs Valerie's Performance Pizza is a small restaurant in Detroit that sells gluten-free pizzas. Valerie's very tiny kitchen has barely enough room for the three ovens in which her workers bake the pizzas. Valerie signed a lease obligating her to pay the rent for the three ovens for the next year. Because of this, and because Valerie's kitchen cannot fit more than three ovens, Valerie cannot change the number of ovens she uses in her production of pizzas in the short run. However, Valerie's decision regarding how many workers to use can vary from week to week because her workers tend to be students. Each Monday, Valerie lets them know how many workers she needs for each day of the week. In the short run, these workers are v inputs, and the ovens are inputs. Valerie's daily production schedule is presented in the following table. Fill in the blanks to complete the Marginal Product of Labor column for each worker. Output (Pizzas) Labor Marginal Product of Labor (Pizzas)…
2. Inputs and outputs Teresa's Performance Pizza is a small restaurant in Dallas that sells gluten-free pizzas. Teresa's very tiny kitchen has barely enough room for the four ovens in which her workers bake the pizzas. Teresa signed a lease obligating her to pay the rent for the four ovens for the next year. Because of this, and because Teresa's kitchen cannot fit more than four ovens, Teresa cannot change the number of ovens she uses in her production of pizzas in the short run. However, Teresa's decision regarding how many workers to use can vary from week to week because her workers tend to be students. Each Monday, Teresa lets them know how many workers she needs for each day of the week. In the short run, these workers are inputs, and the ovens are inputs. Teresa's daily production schedule is presented in the following table. Fill in the blanks to complete the Marginal Product of Labor column for each worker. Labor Output Marginal Product of Labor (Number of workers) (Pizzas)…