Answer: If the existence of alternative opportunities makes people become less willing to work in poultry processing plants, then the real wage of unskilled workers in poultry processing plants is predicted to increase and the employment of unskilled workers in poultry processing plants is predicted to increase as well.
Explanation: If nobody is willing to work in such places, then the job offers must become more attractive to workers. A higher pay for a job attracts people to apply for it, and those are hired even been unskilled. Therefore, more unskilled workers would be hired, for higher salaries than before. This is called the <u>supply and demand process</u>, in which the most difficult to find something, the more expensive it becomes.
The statement, inventory can be calculated by dividing the total number of customers that arrived during a period of time by the length of that period of time, is false.
Inventory cannot be calculated by dividing the total number of customers which arrived during a period of time by the length of that period of time because that is how you calculate average flow rate.
First in calculating inventory, you will need to know the inventory levels on the first day of the accounting period. Then the inventory values must be multiplied by the number of items on hand with the unit price of the items.
Hence, one determines the total costs of goods available in that period to calculate inventory.
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Answer:
500 units
Explanation:
14x=7000. The breakeven point is where you have to make just as much as what you are spending. So your total would be 7000 and since it's 14 for each unit you're just looking for x and make it into an equation. 7000/14= 500 units
44900-4200=40700
He has lost 4200
Answer:
Q is 98
Explanation:
Marginal (average) cost (including opportunity cost) = $8 + $2 = $10
Profit is maximized when MR = MC = 10.
P = 402 - 2Q
Total revenue (TR) = P x Q = 402Q - 2Q^2
MR = dTR/dQ = 402 - 4Q
Equating with MC,
402 - 4Q = 10
4Q = 392
Q = 98