When a company tracks gross profit by department, the sales journal will..? Please help limited time!

I had to look for the options and here is my answer:
Based on the given description above about Doris Lewis who owns Lewis Edibales, Inc., which is a company who makes BBQ sauce and wants to mix goodness that grows in North Carolina, what Lewis is doing is taking marketing actions in order to reach target markets.

4 0

4 years ago

Suppose that the current wage rate is $40 per hour, the rental rate of land is $10,000 per acre, and the rental rate of capital

MakcuM [25]

Answer:

The firm is not maximizing profit.

Explanation:

Under the profit maximization theory for two or more inputs, a firm or producer maximizes his profit at a point where the ratios of the marginal producer to cost per unit of each input are equal to one another. This implies that profit is maximized when profit per dollar of all goods are equal. Therefore, profit is not being maximized by the firm is this condition does not hold.

Based on the this question, profit is being maximized by the firm if we have the following:

MPL/W = MPLA/RL = MPC/RC ……………………………. (1)

Where;

MPL = Marginal product of labour = $800

W = Wage rate = $40

MPLA = Marginal product of an acre of land = $150,000

RL = Rental rate of land = $10,000

MPC = Marginal product of capital = $40,000

RC = Rental rate of capital = $1.000

Substituting the values into equation (1), we have:

$800 / 40 $\neq$ $150,000 / $10,000 $\neq$ $40,000 / $1,000

$20 \neq 15\neq 40$

Since $20\neq 15\neq 40$ , this implies that the firm is not maximizing profit.

To maximize profit, the firm will have to adjust its number of inputs use until MPL/W = MPLA/RL = MPC/RC.

6 0

4 years ago

When the opportunity cost associated with increasing the production of one good or service in terms of another is constant at ev

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When the opportunity cost associated with increasing the production of one good or service in terms of another is constant at every level of production, then the production possibility frontier is Linear.

Opportunity costs address the potential advantages that an individual, financial backer, or business passes up while picking one option over another. Since opportunity costs are inconspicuous by definition, they can be barely noticeable.

Opportunity Costs= Absolute Income - Monetary Benefit.

The Production Possibility Frontier (PPF) is a bend on a chart that shows the potential amounts that can be delivered for two items if both rely on a similarly limited asset for their production. The PPF is additionally alluded to as the creation probability bend.

To learn more about Production Possibility Frontier is linear.

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7 0

2 years ago