Answer:
a. Offered load = 1 lot / 4 hours = 6 cars/4 hours = 1.5 cars/hours
b. Demand rate = Total cars per 4 hours/20 minutes time
Demand rate = 6*4 / 20
Demand rate = 24/20
Demand rate = 1.2 cars/hours
Implied utilization = Demand rate / Offered load
Implied utilization = 1.2/1.5
Implied utilization = 0.8
Implied utilization = 80%
c. Capacity of the process = 1 lot / 5 hours
Capacity of the process = 6 / 5
Capacity of the process = 1.2 rentals per hours
d. Probability that all eight cars are rented at the same time
=> (1 - 0.8) * (0.8)^8
=> 0.2 * 0.1678
=> 0.03356
=> 3.36
Answer: B. The firm hires 45 workers and earns a $1200.00 Economic Profit
Explanation:
According to the table, when the Market Equilibrium Wage Rate is $105, the number of workers to hire would be 45 and the revenue would be $7,425.
If 45 workers are hired, they would cost:
= 45 * 105 per worker
= $4,725
Added to the fixed cost, the total cost would be:
= 4,725 + 1,500
= $6,225
The profit would be:
= Revenue - cost
= 7,425 - 6,225
= $1,200
Your answer is LLC so it would be B. IM writing this long because i have to
Answer:
I think so buh I’d advice u to make it its correct