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allochka39001 [22]
3 years ago
15

What is it meant by economies of scale?

Business
1 answer:
joja [24]3 years ago
8 0
Economies of scale refers to the cost advantage that emerges or become visible with higher or improved output of a product. There is an inverse relationship between the quantity proposed and per unit fixed costs therefore, if the product or good is produced in large or high quanity the per unit fixed cost goes down because it can already be shared with other large number of goods. There are two types of economics of sale, the internal and of course the external.
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The minimum wage is increased from $7.25 to $9.00 per hour. Calculate the elasticity of demand for fast food workers over the re
deff fn [24]

Answer:

As the question was not complete. I have attached the complete question in the attachment. Please refer to attachment.

Explanation:

<em>By using, LD = 95- 3w and w1 = 7.25 and w2 = 9. We get, </em>

<em>LD1 = 95-3(7.25) = 73.25 </em>

<em>LD2 = 95-3(9) = 68 </em>

Elasticity = Change in labor demand/ change in wage rate = ((68- 73.25)/ 73.25)/ ((9-7.25/7.25)) = -0.33

The 11 percent change in the wage rate causes, 33% change in labor demanded, as shown by the elasticity, the labor demand decreases with increase in wage rate.

4 0
2 years ago
A company purchased a machine for $8,000, the estimated value of the equipment at the end of its 6-year useful life is $600. Com
vfiekz [6]

Explanation:

b) Double declining Balance

6 0
3 years ago
Read 2 more answers
The following information came from the income statement of the Wilkens Company at December 31, 2017: sales revenue $1,800,000;
andriy [413]

Answer:

Wilkens' days in inventory for 2017 = 60.833

Explanation:

Given:

Sales = $1,800,000

Beginning inventory = $160,000

Ending inventory = $240,000

Gross profit = $600,000

Inventory turnover = 6 times

Wilkens' days in inventory for 2017 = ?

Computation of Wilkens' days in inventory for 2017:

Wilkens' days in inventory for 2017 = Number of days in a year / Inventory turnover

Wilkens' days in inventory for 2017 = 365 / 6 times

Wilkens' days in inventory for 2017 = 60.833

7 0
3 years ago
On july 25, henry company's accountant prepared a check for august's rent payment. henry company mails the checkon july 27 to th
erastovalidia [21]
<span>Henry Company should record the rent expense on August 2. Although the check was prepared on July 25 and mailed on July 27, it should not be recorded until the check is actually cashed.</span>
4 0
3 years ago
One of the examples given by Agnew and Brezina as a way to reduce crime by reducing situational strains is to:
Len [333]

Answer:

Reduce the amount of media violence.

Explanation:

Reducing crime reducing situational stains is the method to minimize the impact of crime and being it public. Media is the most effective way which reports details of crime very quickly. Agnew and  Brezina had tried to reduce the impact of crime and avoid distribution of details to public about the reported crime to reduce situational stains.

7 0
2 years ago
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