To answer this question, refer to the crossover chart. For high volume production process, Process A would most likely be the be
st option. Group of answer choices True False
1 answer:
Answer: False
Explanation:
For a high volume Process, Process C would be the best option because it has the lowest cost at higher volumes.
Process A would be the best option if the company was looking for a low volume production process because at that point, it has the lowest cost. When it comes to high volume production though, Option A is the worst option as it is the most expensive.
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Answer: 1.60
Explanation:
P1 = 30
P2 =50
Q1 = 6
Q2 = 16
Elasticity of supply:
= 1.60
Using the midpoint method, the elasticity of Deborah’s labor supply between the wages of $30 and $50 per hour is approximately 1.60, which means that Deborah’s supply of labor over this wage range is elastic.