Answer:
Their business should be classified as a Partnership.
Explanation:
The three major types of businesses are Sole Proprietorship, Partnership & Corporation. Sole Proprietorship has only one member and corporations have shared ownership and big in size. Partnerships are businesses in which a small number of people decide to pool in and start a business and are personally liable for any business debts. In this case the coffee shop opened by Franklin, John, Henry, and Harry would be classified as a Partnership.
Partnerships have a limited life and it will dissolve if any of Franklin, John, Henry, and Harry decide to leave the partnership unless stated otherwise in the charter of the partnership.
Answer:
a. factory overhead cost
b. factory overhead cost
c. factory overhead cost
d. direct labor cost
e. direct materials cost
f. direct labor cost
g. factory overhead cost
h. direct materials cost
i. direct materials cost
j. factory overhead cost
Explanation:
Direct Material Costs and Direct Labor Costs are easily traceable to the cost object whilst its difficult to trace Factory Overhead Costs to the cost object.
Answer:a. an upward-sloping short-run aggregate supply curve
Explanation:
variable a represent an upward sloping short run aggregate supply curve.
The slope of the supply curve is positive which tells us that the quantity supplied has a positive relationship with Price.When price increases the quantity supplied will increase because the law of supply states that more quantity is supplied at a higher price
Answer: a. 2
b. $200
c. Should not
Explanation:
a. The new employee's marginal product of labor is ______.
This will be:
= 5 - 3
= 2 moving jobs
b. The value of that marginal product is ______..
Since the company charges $100 for a moving job, the value of the marginal product will be:
= 2 × $100
= $200
c. The moving service should moving jobs ______- hire another worker
Marginal cost of moving 2 jobs will be:
= $30 × 4 × 2
= $240
Since the marginal cost is more than the marginal product, the company should not hire another worker.
