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
yKpoI14uk [10]
3 years ago
5

Use the following to answer questions 3-8: ​ Number of Workers Total Cost 0 1000 1 2200 2 3200 3 4000 4 4600 5 5000 6 5200 7 560

0 8 6200 9 7000 10 8000 If hiring the 4th worker increases total product by 50 units and the price of each unit is $15,​ a. ​the firm should not hire the 4th worker as MRMC c. ​marginal revenue equals $150 d. ​the firm should not hire the 4th worker as MR
Business
1 answer:
Firlakuza [10]3 years ago
3 0

Answer:

Firm should hire the 4th worker as MR > MC.

Explanation:

Here, we are comparing the marginal cost of hiring 4th worker with the revenue generated by the 4th worker.

Marginal cost of hiring 4th worker:

= Total cost with 4 workers - Total cost with 3 workers

= $4,600 - $4,000

= $600

Total revenue generated by the 4th worker:

= Number of units produced by 4th worker × Price of each unit

= 50 × $15

= $750

Therefore, the firm should hire the 4th worker as the marginal revenue of 4th worker is greater than its marginal cost.

You might be interested in
Demand for individual products can be driven by product life cycles. <br> a. True <br> b. False
Ray Of Light [21]
True djtvfegjuthbggh
8 0
3 years ago
Barbara is the manager at a sports arena that draws an average of 2,700 patrons per event. each ticket taker can process 125 eve
liberstina [14]
Average patrons per event = 2,700

Number of event goers a ticket taker can process = 125

Therefore number of ticket takers that need hiring = 2700 ÷ 125 = 21.6 = 22 ticket takers
6 0
3 years ago
Read 2 more answers
You manufacture covers for barbeque grills at a cost of $5 each and make a profit of $2 per cover.
Katyanochek1 [597]

which class?

Explanation:

plz mention the lesson name kk

4 0
3 years ago
The herfindahl-hirschman index is the ________ of the percentage market share of each firm summed over the largest 50 firms in a
Ann [662]
<span>The herfindahl-hirschman index is the measure of the percentage market share of each firm summed over the largest 50 firms in a market.
HHI is the measure of market concentration. It is the commonly accepted measure. if H</span>erfindahl-Hirschman index is low and its four firm concentration ratio is low then the market is considered competitive.

3 0
3 years ago
An approach to the SDLC that plans the project in advance and then progresses according to the plan is called what
makvit [3.9K]

Answer:

source-

One of the most common predictive models is the waterfall model. It assumes various phases in the SDLC that can occur sequentially, which implies that one phase leads into the next phase. In simple words, in waterfall model, all the phases take place one at a time and do not overlap one another.

in your own words-  

One of the foremost common prognostic models is that the falls model. It assumes varied phases within the SDLC which will occur consecutive, which suggests that one section leads into following section. In straightforward words, in falls model, all the phases occur one at a time and don't overlap each other.

Explanation:

source is where i got the imformation and the in your own words is it fully rewritten, sorry its a bit lengthy and hope this helps have a god day/night/noon! :)

7 0
2 years ago
Other questions:
  • Sonny's BBQ Company recently issued $85 par value preferred stock that pays an annual dividend of $9. Analysts estimate that the
    10·1 answer
  • Which technique of advertising shows that multiple consumers use a product to build consumer trust in the product? indirect ad b
    5·2 answers
  • Cracker Company had 2 million shares of common stock outstanding all through 2017. On April 1, 2018, an additional 100,000 share
    9·1 answer
  • Write a function rule for finding the amount of daily pay, p, in the following situation: A bus driver gets paid $100 each day p
    11·1 answer
  • . What happens if you don't pay your insurance premium for your car?
    12·1 answer
  • Rutgers Industries has the following inventory information for 2019: Jan 1 Beginning Inventory 240 units at $100 per unit June 1
    10·1 answer
  • The balance sheet of Indian River Electronics Corporation as of December 31, 2020, included 11.75% bonds having a face amount of
    9·1 answer
  • A purely domestic firm that sources and sells only domestically, Multiple Choice should never hedge since this could actually in
    15·1 answer
  • If the reserve requirement is 25%, a new deposit of $1,000 leads to a potential increase in the money supply of
    9·1 answer
  • In the long run, the least important cause of shifts the aggregate supply curve is?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!