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natka813 [3]
3 years ago
14

Bonita's Braidworks hires workers to braid hair. The store sells the service for $25 per customer. The marginal revenue product

of this store's fifth worker is $50. The marginal product of the fifth worker isA) 0.5 braided customers.B) 2 braided customers.C) 25 braided customers.D) indeterminate from this information.
Business
1 answer:
kenny6666 [7]3 years ago
4 0

Answer:

2 Braided Customers

Explanation:

Given:

Services Rate per customer = 25 $

Marginal Revenue Product = 50 $

Marginal Product = (Marginal Revenue Product / Service rate per customer)

Marginal Product = 50 / 25

Marginal Product = 2 Braided Customers

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Suppose executives at an art museum know that 100 adults are willing to pay $12 for admission to the museum on a given weekday.
e-lub [12.9K]

The museum will earn $600 on a weekday.

<h3>What is an art museum?</h3>
  • A structure or area designated for the exhibition of art, typically from the museum's own collection, is known as an art museum or gallery.
  • It may be owned by the government or a private individual, and access may be open to everyone or subject to limitations.
<h3>Who are executives?</h3>
  • An executive manages operational activities for their company or organization and is typically in charge of developing policies and strategies to achieve organizational objectives.
  • Executives frequently travel to conferences, meetings, and local, regional, national, and worldwide offices.
<h3>Solution -</h3>

Adults willing to pay = 100 and their fees = $12.

Students are willing to pay = 200 and their fees = $8.

Operating cost of museum = $2,200.

To find the profit, do the following:

(100 * 12) + (200 * 8) = 1200 + 1600 = 2800\\2800 - 2200 = 600

Therefore, the museum will earn $600 on a weekday.

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5 0
2 years ago
You have just won the lottery and will receive $460,000 in one year. You will receive payments for 27 years, and the payments wi
Zepler [3.9K]

Answer:

The present Value of my winnings = $4,578,716.35

Explanation:

An annuity is a series od annual cash outflows or inflows which payable or receivable for a certain number of periods. If the annual cash flow is expected  to increase by a certain percentage yearly, it is called a growing annuity.

To work out the the present value of a growing annuity,

we the formula:

PV = A/(r-g) ×  (1-  (1+g/1+r)^n)

I will break out the formula into two parts to make the workings very clear to follow. So applying this formula, we can work out the present value of the growing annuity (winnings) as follows.

A/(r-g)

= 460,000/(12%-3%)

= $5,111,111.11

(1-  (1+g/1+r)^n

1 - (1+3%)/(1+12%)^(27)

=0.8958

PV = A/(r-g) ×  (1-  (1+g/1+r)^n)

$5,111,111.11 × $0.8958

= $4,578,716.35

The present Value of my winnings = $4,578,716.35

5 0
3 years ago
Ice Cream Corporation uses the weighted-average method in its process costing system. Data concerning the first processing depar
olya-2409 [2.1K]

Answer:

Ice Cream Corporation

The cost per equivalent unit for materials for the month in the first processing department is closest to:

= $14.30.

Explanation:

a) Data and Calculations:

                                                  Units       Materials        Conversion

Beginning work in process     2,400      $ 14,500           $ 6,600

Percentage of completion

Beginning work in process                        75%                   20%

Started into production          11,100

Units in production               13,500

Completed and transferred 10,000

Ending work in process         3,500         90%                  30%

Costs added during the month             $173,600       $243,600

Total costs of production

Beginning work in process          $ 14,500           $ 6,600

Costs added during the month    173,600          243,600

Total costs of production            $188,100        $250,200

Equivalent units of production:

Completed and transferred 10,000   10,000 (100%)   10,000 (100%)

Ending work in process         3,500     3,150 (90%)       1,050 (30%)

Equivalent units of production            13,150                11,050

Cost per equivalent unit:

Total costs of production            $188,100        $250,200

Equivalent units of production        13,150              11,050

Cost per equivalent unit                 $14.30            $22.64

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Control+Shift+Enter

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