1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Andrei [34K]
3 years ago
8

Linda's Autoplex performs oil changes on automobiles, light trucks, and sport utility vehicles. She is a profit maximizing busin

ess owner whose firm operates in a competitive market. The marginal cost of an oil change is $10. The marginal productivity of the last worker that Linda hired was 1.5 oil changes per hour. What is the maximum hourly wage that Linda was willing to pay the last worker hired?
a. 510
b. 515
c. 520
d. 530
Business
1 answer:
madam [21]3 years ago
3 0

Answer:

$15 per hour

Explanation:

In order for a profit maximizing firm to operate in a competitive market, the marginal revenue product (MRP) must be equal to the marginal cost (MC).

MRP = 1.5 oil changes per hour x $10 per oil change = $15

since MRP = MC, then Linda should pay her worker a maximum of $15 per hour.

No option is even close, they are all over $500 and that is way off limits.

You might be interested in
The combination of debt financing and equity financing that maximizes a firm's value is known as its:
ohaa [14]

Answer:

optimal capital structure

Explanation:

optimal capital structure can be regarded as a combination of

of debt and equity financing which brings about maximization of amarket value in a firm. It should be noted that optimal capital structure is the combination of debt financing and equity financing that maximizes a firm's value.

5 0
3 years ago
Joe, a human resources specialist for Jersey Office Supplies Co., rides along with the furniture delivery people to observe the
Svetllana [295]

Complete question:

Joe, a human resources specialist for Jersey Office Supplies Co., rides along with the furniture delivery people to observe the problems they were encountering and what activities they were required to perform. Joe was performing a:

A. personality test

B. performance appraisal

C. BARS

D. job analysis

Answer:

Joe was performing a job analysis

Explanation:

Job analyzes are a set of protocols for defining the contents for the job and the features or criteria required for the execution of the tasks. Job analytics provide employers with knowledge that helps to recognize which personnel is ideally suited to particular work.

An example of a job analysis model might list tasks or activities of the job and determine each performance level. Within this way, the role of job analysis is critical. Many companies typically take the same generic approach without details on the task description. All workers are tested in a similar set of features or characteristics presuming that they are required for all work.

6 0
3 years ago
Suppose the market for corn is a purely competitive, constant-cost industry that is in long-run equilibrium. now assume that an
sergij07 [2.7K]
After all resulting adjustments have been completed, the new equilibrium price will less than the initial price and output. The same will happen to the industry output. In each situation in which <span>an increase in product demand occurs in a decreasing-cost industry the result is: </span>the new long-run equilibrium price is lower than the original long-run equilibrium price.
5 0
3 years ago
Ivers Co. holds $30,000 of available-for-sale securities. Ivers intends to hold these securities for three years. Ivers should r
bekas [8.4K]

Answer:

long term assets

Explanation:

hope this helps :)

4 0
3 years ago
Distinguish between limited and unlimited liability
ehidna [41]

This relates to liability of business owners. When a company has unlimited liability and starts losing money, the owners can be personally liable for losses meaning their home and personal assets could be lost. Limited liability means they can only lose the amount that they invested in the company and none of their personal assets.

5 0
3 years ago
Other questions:
  • What need theories would explain why lemuel greene was unhappy despite his high income?
    6·1 answer
  • Cash flows to stakeholders of a firm include
    10·1 answer
  • If demand shifts to the right when income increases, we can conclude that the good is:_____
    5·1 answer
  • If monopolistic competitors must expect a process of entry and exit like perfectly competitive firms, Group of answer choices
    5·2 answers
  • Shiloh canvasses for her favorite politicians. she has discovered that asking someone to do a small favor makes it easier to con
    7·1 answer
  • Bryant Investments is putting out a new product. The product will pay out $32,000 in the first year, and after that the payouts
    8·1 answer
  • The trial balance of Sheffield Corp. at the end of its fiscal year, August 31, 2020, includes these accounts: Inventory $19,500;
    12·1 answer
  • n spreadsheet programs, labels and constant values are always copied exactly to the new location; what happens to formulas when
    10·1 answer
  • How does opportunity cost affect decision making
    6·1 answer
  • Like personal selling, direct marketing makes use of blank______ communication, allowing the seller to adapt messages according
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!