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
At the beginning of 2018, England Dresses has an inventory of $140,000. However, management wants to reduce the amount of invent
Bad White [126]

Answer:

purchases = 160000

Explanation:

given data

beginning inventory = $140,000

amount of inventory on hand = $80,000

net sales = $400,000

gross profit rate = 40%

solution

we first Computation of cost of goods sold  hat is

Gross profit rate = \frac{gross profit}{net sales} × 100

= \frac{gross profit}{400000} = = \frac{40}{100}

= 100 Gross profit = 16000000

so

Gross profit = 160000

and

Cost of goods sold is = sales - gross profit

so

Cost of goods sold = 400000 - 160000

Cost of goods sold = 240000

and

Cost of goods sold = opening inventory + purchases - closing inventory  

so put here value

240000 = 140000 + purchases - 60000

so purchases = 160000

7 0
3 years ago
Economic ordering quantity with safety stock (LO5) Diagnostic Supplies has expected sales of 84,100 units per year, carrying cos
disa [49]

Answer:c. Assume an additional 80 units of inventory will be required as safety stock. What will the new average inventory be? What will the new total carrying cost be?

Explanation:

3 0
3 years ago
Read 2 more answers
What business cycle means?
inn [45]

The repeating economic changes that happen in a society over time are known as business cycles.

Business cycles are one sort of fluctuation that can be seen in a country's overall economic activity, a pattern of booms that occur roughly at the same time in various economic activities, followed by contractions that are equally widespread.

The repeating economic changes that happen in a society over time are known as business cycles. It can be recognized by changes in the GDP and other macroeconomic indicators.

Business cycles are made up of coordinated cyclical upswings and downswings in output, employment, income, and sales, which are four broad indices of economic activity.

Expansions and contractions, commonly known as recessions, are the two contrasting phases of the business cycle.

To learn more about business cycle link is here

brainly.com/question/4511868

#SPJ4

8 0
1 year ago
8. Problems and Applications Q8 Social Security benefits are increased each year in proportion to the increase in the CPI, even
oksano4ka [1.4K]

Answer:

  1. False
  2. True

Explanation:

1. Social security benefits are increased each year in proportion to an increase in CPI which measures inflation. This CPI is based on a market basket that most people use. If the social security benefits that the elderly get rises as the price of the basket rises then Social Security would not provide a decrease in their standard of living but would rather leave it unchanged so this answer is <u>FALSE.</u>

2. If Healthcare is said to be rising faster than inflation and elderly people consume more health care then that means that Social security benefits which are based on a inflation are not capturing the rise in living expenses for the elderly appropriately. This means that old people might be worse off. This is therefore <u>TRUE. </u>

6 0
3 years ago
(a) What is the average useful power output of a person who does 6.00×106 J of useful work in 8.00 h? (b) Working at this rate,
netineya [11]

Answer:

(a) 208.33 J/s

(b) 141.12 s

Explanation:

(a) Energy is the rate of doing work.

Work is the product of power and time

Work = Power × Time

Power = Work/time

where work is in joule and time is in seconds

Given that work = 6 × 10^{6}

Time = 8 h = 8 × 60 × 60

 = 28800 seconds

Average useful power = \frac{6 ×10^{6} }{28800}

                                     = 208.33 J/s

(b) Given

mass = 2000kg , using g = 9.8 m/s2

Force = 2000 × 9.8

          = 19600N

Work =  Force × Distance ( considering that Work done to lift his body can be omitted because it is not considered useful output here)

Work = 19600 × 1.5

        = 29,400J

Time taken = Work/Power

                  = \frac{29400}{208.33} \\

                  = 141.12s

                  ≈ 2 Minutes 21 Seconds

At the rate of 208.33J/s, it will take the person 141.12 seconds to lift 2000 kg of bricks 1.50 m to a platform.

5 0
3 years ago
Other questions:
  • A company's interest expense is $15,000. Its income before interest expense and income taxes is $86,250. Its net income is $31,9
    12·2 answers
  • If an economy consumes 68 percent of any increase in disposable income, then an increase in autonomous investment of $1 billion
    12·1 answer
  • You decide to invest in a period annuity that offers 4.5% APR compounded monthly for 20 years. How much money will you need to i
    15·1 answer
  • Which of the following reflects a true relationship between making decisions and reaching objectives
    13·1 answer
  • Pam retires after 28 years of service with her employer. She is 66 years old and has contributed $42,000 to her employer's quali
    14·1 answer
  • E-commerce can be defined as: Question 48 options: A) the digital enablement of transactions and processes within an organizatio
    8·1 answer
  • What is the real and perceived value of an item you recently purchased
    7·1 answer
  • The Fed increased the supply of US dollars at an average rate of 6 percent per year over the 1980-2005 period. Based on the theo
    12·1 answer
  • What is the purpose of Lincoln Douglas?<br><br> Tysm have a great day! :)
    14·1 answer
  • Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,900 shares of its own common st
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!