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loris [4]
3 years ago
7

Sally runs a hair styling salon. sally is a profit-maximizing owner whose firm operates in a competitive market. the marginal co

st of a haircut is $15. what is the maximum wage that sally will pay her stylists?
Business
1 answer:
Dima020 [189]3 years ago
3 0
<span>There is insufficient information to answer this question</span>
You might be interested in
A 3-year project is expected to produce a cash flow of $82,400 in the first year and $148,600 in the second year. The project ha
givi [52]

Answer:

$163,100

Explanation:

First find the present value of cashflows at year 1 and 2

<u>PV of  $82,400;</u>

PV = FV/(1+r)^n

PV = 82,400/(1.1275)^1

PV = $73082.0399

<u>PV of  $148,600;</u>

PV = FV/(1+r)^n

PV = 148,600 /(1.1275)^2

PV = $116,892.2473

From the cumulative present value of 303,764.34, find the balance after deducting the above PVs;

PV of cashflow yr3 = $303,764.34 -$73082.0399 -$116,892.2473

PV of cashflow yr3 = $113,790.053

Next, calculate year 3's cashflow;

Year 3 cashflow = 113790.053(1.1275)^3

Year 3 cashflow = $163,099.996

Expected cashflow in third year is approximately $163,100

3 0
3 years ago
Type the correct answer in the box. Which marketing-related concept is described in the following scenario? The booming Industri
DanielleElmas [232]

<u>Answer: </u>Production concept

<u>Explanation:</u>

Production concept is based on concentrating on the efficiency of the production and manufacturing. The basis of production concept is to make the goods available to the consumer at affordable prices. By producing in mass quantities the companies believed they can reduce the cost of production.

Also that supply can be increased when the cost of production is lower. Economies of scale can be achieved by the company when they reduce cost of production they can increase their profit earning capacity.

4 0
3 years ago
Mister Plow has contracted to perform snow removal services for the city of Springfield. Record snowfall has more than doubled t
Marina86 [1]

Answer:

B. a fixed-price contract.

Explanation:

"A fixed price contract places minimum administrative burden on the contracting parties, but subjects the contractor to the maximum risk arising from full responsibility for all cost escalations. Also called firm price contract."

Mr. Plow couldn't come back to Springfield because he took full responsability for all cost escalations.

Reference: WebFinance Inc. “What Is Fixed Price Contract? Definition and Meaning.” BusinessDictionary.com, 2019

3 0
3 years ago
3. What is meant by economy of scale? Why would costs be im pacted by the quantity of garment that is produced?
Anit [1.1K]

Answer:

Economies of Scale refer to the cost advantage experienced by a firm when it increases its level of output. The advantage arises due to the inverse relationship between per-unit fixed cost and the quantity produced. The greater the quantity of output produced, the lower the per-unit fixed cost.

Explanation:

6 0
3 years ago
In what way is the HR function important to the success of the everyday tasks in an organization? Discuss the competitive advant
pentagon [3]

Answer:HR plays a key role in developing, reinforcing and changing the culture of an organisation. Pay, performance management, training and development, recruitment and onboarding and reinforcing the values of the business are all essential elements of business culture covered by HR

A diverse workforce is a more productive workforce, and your business can benefit from different perspectives, improved community relations and more creative ideas.

Workforce diversity can bring about an increase in productivity and competitive advantages. Employers can offer more solutions to customers because of new ideas and processes brought into the organization. Workplace diversity also increases employee morale and causes employees to desire to work more effectively and efficiently. Diversity in leadership within a firm allows managers to bring in new skills and methods for achieving unity within their teams.

Explanation: workforce diversity helps the organization to grow faster and also boost the morals of employees,for every organization that adopt diversity it's tends to be above other organizationbin level of productivity.

8 0
2 years ago
Read 2 more answers
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