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iragen [17]
3 years ago
10

Suppose that for a particular firm the only variable input into the product process is labor and that output equals zero when no

workers are hired. In addition, suppose that marginal cost of the third worker hired is $40, and the average total cost when three workers are hired is $50. What is the total cost of production when three workers are hired?
Business
1 answer:
natulia [17]3 years ago
4 0

Answer: The correct answer is <u>$150.</u>

Explanation:  

We know that the marginal cost of hiring a third worker is $ 40. And that the average total cost when 3 workers are hired is $ 50. The average total cost formula is:

Average total cost = (total cost) ÷ (number of workers)

Then we solve the equation in 3 steps:

1) $ 50 = X ÷ 3

2) $ 50 × 3 = X

3) $ 150 = X

We can diagram the workers cost chart

Number of workers - Marginal cost - Total cost

              1                -         $60         -     $60

              2               -         $50         -     $110  

              3               -         $40         -     $150

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Answer: $33788

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The amount that will be debited to the accounts receivable for the new partnership will be the difference between the balance of $35017 and the $1229 that is seen as been worthless.

= $35017 - $1229

= $33788

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Answer: Please refer to Explanation

Explanation:

1. A. Monitoring key stock prices.

This does not fall under what the Central Bank does when Monetary Policy is implemented. Monetary Policy allows the government to influence interest rates, monitor financial institutions and indirectly control money supply.

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3. Management of interbank transfers.

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- The Fed just embarked on monetary policy to correct the Economy. This was a Macro Economic function as it dealt with the entire economy as a whole.

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3 years ago
Jubilee, Inc., owns 30 percent of JPW Company and applies the equity method. During the current year, Jubilee buys inventory cos
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Answer:

the gross profit reported is $1,518

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The computation of the amount of gross profit that reported is shown below:

But before that the gross profit percentage is

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A car rental agency rents 220 cars per day at a rate of 28 dollars per day. For each 1 dollar increase in the daily rate, 6 fewe
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The cars should be rented at $34 per day for a maximum income of $6268 per day.

If the daily rental is increased by $x

<u>Then </u>

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Number of cars rented:  

N(x) = (220−6x) and Income: I(x) = (28+x) (220−6x) = 6,610 + 52x−5x^{2} dollars/day.

The maximum will be achieved when the derivative of I (x) is zero.

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<h3>What is Maximum revenue ?</h3>

Maximum revenue is defined as the total maximum amount of revenue of product or service can yield at maximum demand and price.

To calculate maximum revenue, determine the revenue function and then find its maximum value. Write a formula where p equals price and q equals demand, in the number of units.

Learn more about Maximum revenue  on:

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