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Anit [1.1K]
3 years ago
13

Suppose the marginal benefit the owner of a cherry orchard derives from hiring Lauren to pick cherries is $8 per hour. If the wa

ge rate that Lauren earns is $7 per hour, then the orchard owner's surplus from Lauren's labor is ________ per hour.
Business
1 answer:
Sever21 [200]3 years ago
7 0

Answer:

$1 per hour

Explanation:

Data provided in the question

Lauren pick cherries per hour for $8 per hour

And, the wage rate that Lauren earns is $7 per hour

So, the surplus made from Lauren's labor per hour is

= Lauren pick cherries per hour - Wage rate that Lauren earns

= $8 per hour - $7 per hour

= $1 per hour

Simply we deduct the wage rate from the cherries per hour so that the surplus per hour could come

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Explain the concept of delegation of authority​
Archy [21]

Explanation:

Delegation of authority is a process that enables a person to assign a task to others. As a manager or leader, you're expected to perform several tasks and meet multiple deadlines. To ensure that you achieve your objectives on time, you delegate responsibility to your team members

6 0
3 years ago
Read 2 more answers
Windathon, Inc. expects sales volume totaling $500,000 for June. Data for the month follows:
ivann1987 [24]

Answer:

Here the variable cost can be computed using the following formula:

Variable cost = (Sales commissions  + Shipping expense + Miscellaneous selling expenses) ×Sales

Variable cost = (4% + 1% + 3/4%) x $500,000 = $28,750

Fixed cost = Sales manager's salary + Advertising expense + Miscellaneous selling expenses

= $30,000 + $25,000 + $2,100

= $57,100

<em>Total selling expense budget = Variable cost + Fixed cost</em>

<em>= $28,750 + $57,100 </em>

<em>= $85,850</em>

8 0
3 years ago
In the Keynesian model, a $1 billion increase in autonomous consumption leads to ______ in equilibrium output.
egoroff_w [7]

Answer: A greater than $1 billion increase

Explanation: According to the Keynesian Model which says that government should increase demand to boost growth.

Keynesian believes that Government spending on infrastructure, unemployment benefits, and education will increase consumer demand. They also believe that consumer demand is the primary driving force in an economy.

4 0
2 years ago
Fairweather Corporation purchases merchandise on terms of 2/15, net 40, and its gross purchases (i.e., purchases before taking o
Kobotan [32]

Answer:

The answer is $53,699

Explanation:

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Discount days = 15 days

Net days = 40 days

Gross purchase is $800,000 per year

Discount on the purchase is $16,000(2% of $800,000)

Therefore net purchase is $784,000($800,000 - $16,000).

Net per day is:

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$784,000 ÷ 365 days

= $2,147.95

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Therefore, Costly trade credit = Total credit −Free credit

$85,918 - $32,219

= $53,699

9 0
3 years ago
Sheila and Vickie are sisters who enter into a contract to buy a vacation property. The sisters get into a dispute, and Vickie n
Pie

Answer:

The correct answer is Novation.

Explanation:

Innovation represents all those transformations that introduce originality and novelty, usually develop more frequently in the economic context, especially when companies implement new products or services that become successful within the market, prevailing in it through advertising.

Innovation is a technique that can solve problems or shortcomings, which can be done through improvement and not just the creation of something new.

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3 years ago
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