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tankabanditka [31]
3 years ago
15

Hilary is a retired teacher who lives in Miami and does some consulting work for extra cash. At a wage of $50 per hour, she is w

illing to work 10 hours per week. At $65 per hour, she is willing to work 19 hours per week.
Using the midpoint method, the elasticity of Hilary’s labor supply between the wages of $50 and $65 per hour is approximately ___ , which means that Hilary’s supply of labor over this wage range is ___ .
Business
1 answer:
Basile [38]3 years ago
5 0

Answer:

Hilary is a retired teacher who lives in Miami and does some consulting work for extra cash. At a wage of $50 per hour, she is willing to work 10 hours per week. At $65 per hour, she is willing to work 19 hours per week.

Using the midpoint method, the elasticity of Hilary’s labor supply between the wages of $50 and $65 per hour is approximately 2.37 , which means that Hilary’s supply of labor over this wage range is elastic.

Explanation:

Midpoint elasticity = (Change in labor supplied / Average labor supplied) / (Change in wage rate / Average wage rate)

= [(19 - 10) / (19 + 10) / 2] / [$(65 - 50) / $(65 + 50) / 2]

= [9 / (29 / 2)] / [15 / (115 / 2)]

= (9 / 14.5) / (15 / 57.5)

= 0.62/0.26

Midpoint elasticity = 2.37

Once elasticity is greater than 1, supply of labor is Elastic.

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Under a perpetual inventory system, a.a physical count is required to determine cost of merchandise on hand b.the purchases retu
agasfer [191]

Answer:

d.accounting records continuously disclose the amount of inventory

Explanation:

Under the perpetual inventory system, an entity continually updates its inventory records to account for additions to and subtractions from inventory for such activities as:

Received inventory items

Goods sold from stock

Items moved from one location to another

Items picked from inventory for use in the production process

Items scrapped

4 0
3 years ago
Jars of pickles are sampled and weighed. sample measures are plotted on control charts. the ideal weight should be precisely 11
Anvisha [2.4K]

Answer:

c. both x-bar chart and r-chart.

Explanation:

When Jars of pickles are sampled and weighed, sample measures are plotted on control charts and the ideal weight should be precisely 11 oz.

Both x-bar chart and r-chart can be used to monitor the process.

The x-bar and r-chart in statistical process monitoring (spm) are quality control charts used to monitor the process mean and process variation simultaneously, based on samples collected in subgroups in a given time.

6 0
3 years ago
Comparing ABC and Plantwide overhead Cost Assignments Wellington Chocolate Company uses activity-based costing (ABC). The contro
asambeis [7]

Answer:

$432,000 Setting up equipment ⇒ based on setup hours

$1,440,000 Other overhead ⇒ based on oven hours

product                units produced            setup hours          oven hours

Fudge                         8,000                         6,400                    1,600

Cookies                  445,000                         1,600                    8,000

1) Activity rate:

  • a) setup hours = total setup costs / total setup hours = $432,000 / 8,000 hours = $54 per setup hour
  • b) oven hours = total other overhead costs / total oven hours = $1,440,000 / 9,600 hours = $150 per oven hour

2) total overhead assigned to fudge = (6,400 setup hours x $54 per setup hour) + (1,600 oven hours x $150 per oven hour) = $345,600 + $240,000 = $585,600

5 0
3 years ago
Victor Rumsfeld Inc.'s dividend policy is under review by its board. Its projected capital budget is $2,000,000, its target capi
melomori [17]

Answer:

The multiple choices are

a.  $240,000

b. $228,000

c. $216,600

d.$205,770

e. $0

The correct option is E,$0

Explanation:

The funding required from equity is 40% of the projected capital budget of $2000,000 which is expected to be from the profit attributable to stockholders since new issue of shares is not contemplated.

In other words, dividends payable to shareholders is the net income less their counter funding of the project which is computed below:

residual dividends=net income-(equity%*capital outlay)

residual dividends=$300,000-(40%*$2000,000)

                               =$300,000-$800,000=$0

In essence the $300,000 is not even enough as funds expected from equity less alone paying excess as dividend

3 0
3 years ago
The amount of goods or services that consumers are willing and able to buy is determined by
RoseWind [281]
The best answer is "C" or demand. Consumers will buy more or less depending on the demand. 

I hope this helps!
<em>~cupcake</em>
5 0
3 years ago
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