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Marysya12 [62]
3 years ago
6

Suppose that the wage rate is $30 per hour, and the firm sells each unit of output for $6. Using the data from Table 7.3, how ma

ny units of labor will the firm hire?
a.2 units
b.3 units
c.4 units
d.5 units

3 unite is incorrect!
Business
1 answer:
polet [3.4K]3 years ago
6 0
I found this data from Table 7.3
<span> <span> </span><span><span> Labor Input Output
</span> <span> 0                          0
</span> <span> 1                          40
</span> <span> 2                          70
</span> <span> 3                          90
</span> <span> 4                       100
</span> <span> 5                       105
</span> <span> 6                       108

Labor Cost = Labor Input x 30
Output Sales = Output x 6
Revenue = Sales - Cost

</span></span></span><span> <span> </span><span><span> Labor cost        Output Sales
</span> <span> 0                                    0
</span> <span> 30                                 240
</span> <span> 60                                 420
</span> <span> 90                                 540
</span> <span> 120                               600
</span> <span> 150                               630
</span> <span> 180                               648

</span></span></span><span> <span> </span><span><span> Labor Input     Output      Labor cost    Output Sales <span>   Revenue</span>
</span> <span> 0                         0                 0                      0                        0
</span> <span> 1                        40               30                    240                   210
</span> <span> 2                        70               60                    420                   360
</span> <span> 3                        90               90                    540                   450
</span> <span> 4                     100             120                    600                   480
</span> <span> 5                     105             150                    630                   480
</span> <span> 6                     108             180                    648                   468

Labor Unit 4 and 5 both have a revenue of 480. It is the maximum revenue. I think the best option would be C. 4 UNITS.

Lesser cost to the company at a maximum revenue. </span></span></span>
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Answer:

The cost of goods available for sale is $345,000

Explanation:

Beginning finished goods inventory   $25,000

Cost of Goods manufactured           $320,000

Cost of Goods available for sale,

             =  Beginning finished goods inventory + Cost of Goods manufactured

             = $25,000 + $320,000

            = $345,000

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3 years ago
The Goliath Inc. decides to pay the following dividends over the next three years: $2, $2.6, and $3.38. Thereafter, the company
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Suppose monetary neutrality holds and velocity is constant. A 5 percent increase in the money supply increases the price level b
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Answer:  Increases the price level by 5 percent

Explanation:

Monetary Neutrality is a theory in Economics that posits that when there is a change in money supply in an economy, the only variables affected are the nominal ones like price level and wages and Real variables like GDP and employment are not affected.

It holds that when there is an increase in money supply, there is an equivalent increase in Price level as well because the value of money has fallen by the rate of the monetary increase. The Price level rising at the same rate is to compensate.

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When the activity level increases by 15%, net operating income in the flexible budget will ordinarily increase by?
schepotkina [342]

When the activity level increases by 15%, net operating income in the flexible budget will ordinarily increase by -more than 15% b/c fixed costs do not increase with changes in activity.

<h3>What is Net operating income?</h3>
  • Net income in business and accounting is an entity's revenue less costs, depreciation and amortization, interest, and taxes for a certain accounting period..

  • Net Operating Income, or NOI for short, exists a formula those in real estate use to quickly calculate the profitability of a particular investment. After deducting essential operational costs, NOI calculates the revenue and profitability of investment real estate property.

  • By deducting all annual expenses from income, the NOI formula determines how profitable a potential investment property is over the course of a single year.

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Hence,  When the activity level increases by 15%, net operating income in the flexible budget will ordinarily increase by -more than 15% b/c fixed costs do not increase with changes in activity.

To learn more about Net operating income refer to:

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1.Explain mountain tourism?<br>2.Explain inland tourism?​
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2.
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So the choice is between a bad answer and a very bad answer. I would say inland is less bad, but if the examiner thinks one choice is correct, you need to know how he thinks, not how the English language works.


I hope some of that may help I found it off the web.. sorry if it dosent
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