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aev [14]
3 years ago
13

If the market equilibrium wage for entry-level fast-food workers is $10 an hour, while the minimum wage is $8, what impact does

the minimum wage have in this industry?
Business
1 answer:
WITCHER [35]3 years ago
5 0
<span>market equilibrium wage for entry-level fast-food workers = $10 per hour
</span><span>minimum wage = $8 per hour
</span><span>impact does the minimum wage have in this industry = ?
</span>whatever the minimum wage will be, it will have no effect on this market. <span>The condition when labor </span>market<span> is in </span>equilibrium<span> is when supply equals demand.</span>
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REY [17]

Answer:

A. Flow rate = 20 customers per hour

B. Utilization =0.83

C. Cycle time= 3 minutes per customer

Explanation:

A. Calculation for the flow rate

First step is to calculate the Processing time

Processing time = 5 + 25 + (1.5 ×60) + 30

Processing time=30+90+30

Processing time= 150 seconds

Second step is to calculate the Process capacity

Process capacity = 1/150 ×60 per seconds/minute ×60 per minutes/hour

Process capacity= 24 customers per hour

Now let calculate the Flow rate

Using this formula

Flow rate= Min(Demand, Process capacity)

Let plug in the formula

Flow rate= Min(20, 24)

Flow rate = 20 customers per hour

Therefore the flow rate will be 20 customers per hour

B. Calculation for the utilization

Using this formula

Utilization = Flow rate/Process capacity

Let plug in the formula

Utilization = 20/24

Utilization =0.83

Therefore Utilization will be 0.83

C. Calculation for the Cycle time

Using this formula

Cycle time = 1/Flow rate ×60 per minutes/hour

Let plug in the formula

Cycle time= 1/20 ×60 per minutes/hour

Cycle time= 3 minutes per customer

Therefore the Cycle time will be 3 minutes per customer

3 0
3 years ago
A company that makes modular bevel gear drives with a tight swing ratio for optimizing fork-lift vehicles was told that the inte
Troyanec [42]

Answer:

The APY is 14.9%

Explanation:

To find the annual percentage yield we need to compute the effective annual rate of interest.

The Effective annual rate of return(EAR) is the equivalent rate to be paid where compounding is done frequently at period or interval less than a year.

Compounding implies the regular interval when interest is always computed; in this scenario, it is monthly.

The EAR can be worked out as follows

EAR = ( (1+r)^m - 1 ) × 100

r- interest rate per period

m- number of periods in a year

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r = 3.5%/3 = 1.167 % per month

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EAR =( 1.01167^12-1)× 100 = 14.9%

The APY is 14.9%

This implies the quoted interest rate of 3.5% per quarter is the same as paying 14.9% per year

5 0
3 years ago
Chica, a women's clothing store, held a "prize drawing" for a $500 shopping spree on saturday that it had advertised throughout
d1i1m1o1n [39]
I think she did because she know the prize is $500.00.
3 0
3 years ago
Olympia Autos Inc. merged with its competitor Vaca Autos Inc. This allowed Olympia Autos to use its technological competencies a
zlopas [31]

Answer:

Olympia Autos Inc. and Vaca Autos Inc.

This merger scenario illustrates the power of synergy.

Explanation:

Synergy is achieved with Olympia Autos Inc that has technological competencies, merging with Vaca Autos' marketing capacities.  This enable the two entities to achieve more as one than they could have achieved individually.   By capturing a larger market share, the two entities have shown that the combination of resources in pursuit of some common objectives is more beneficial than separate efforts.

4 0
2 years ago
Current information for the Healey Company follows: Beginning raw materials inventory $ 29,200 Raw material purchases 74,000 End
Rzqust [24]

Answer:

cost of goods manufactured= $167,800

Explanation:

To calculate the cost of goods manufactured, we need to use the following formula:

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First, we need to determine the direct material used in production:

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cost of goods manufactured= $167,800

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2 years ago
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