1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
fiasKO [112]
3 years ago
13

Your enterprising uncle opens a sandwich shop that employs 7 people. The employees are paid $12 per hour, and a sandwich sells f

or $6. If your uncle is maximizing his profit, what is the value of the marginal product of the last worker he hired? What is that worker’s marginal product?
Business
1 answer:
laiz [17]3 years ago
8 0

Answer:

Value of Marginal Product= 2

Worker Marginal Product = 12

Explanation:

Calculation for what is the value of the marginal product of the last worker he hired

Using this formula

Wages= MP*P

Let plug in the formula

12 = MP*6

Marginal Product = 12/6

Marginal Product= 2

Therefore the value of the marginal product of the last worker he hired will be 2

Now let calculate the worker marginal Product

Worker Marginal Product = 2*6

Worker Marginal Product = 12

Therefore the Worker Marginal Product will be 12

You might be interested in
The father of modern russia taxed wearers of these in 1705. only orthodox clergy were exempt from the tax. what was being taxed?
8_murik_8 [283]
<span>The father of modern Russia taxed wearers of these in 1705. Only orthodox clergy were exempt from the tax. what was being taxed? 

Their BEARD was being taxed. 

Peter the Great wanted to follow European men in not wearing beards in order to "modernize" Russia. He imposed taxes on Russian men who opted to keep their beards rather than be clean shaven. </span>
7 0
4 years ago
The Smiths are saving money for a down payment on a house. The Smiths have $25,000 in cash, and they estimate that in 5 years th
s2008m [1.1K]

Options :

A)net present value of the $25,000.

B)future value of the $25,000.

C)internal rate of the return on the $25,000.

D)present value of $25,000.

Answer: B)future value of the $25,000.

Explanation: The Smith's calculation and subsequent result which yielded $31,000 refers to the future value of $25,000. The initial $25000 is the present value of the amount held. If the initial amount is saved or deposited over a certain number of years in an account which yields a certain rate of interest per annum and is compounded either on a monthly, yearly, quarterly or semiannual basis as the case may be, in this scenario above, the interest is called mounded annually. This initial amount will grow and yield an amount which is greater than the present deposit. This is called the future value of the initial deposit.

8 0
3 years ago
planning concerned with long-range decisions such as defining the scope of business is referred to as
oksano4ka [1.4K]

Answer: strategic planning

Explanation:

A planning concerned with long-range decisions such as defining the scope of business is referred to as the strategic planning.

Strategic planning helps in giving a business or an organization a direction which is required in knowing where the company is presently and where the company intends going.

The strategic plan shows the visions,, missions, of the organization and the necessary steps that such organization will take to achieve its goals.

3 0
3 years ago
Shen lives in Dallas and runs a business that sells pianos. In an average year, he receives $851,000 from selling pianos. Of thi
Elis [28]

Solution :

1.

The income from renting his showroom that Paolo would receive if he allowed to rent his showroom is a Implicit cost as this is a cost which will not be paid in actual.

The wages as well as the utility bills paid by Paolo is an example of explicit cost as this cost would be paid in actual for the businesses and are added in accounting.

The wholesale amount that Paolo pays for the pianos to the manufacturer is an explicit cost and is aid in actual to the manufacturer.

The salary that Paolo could have earned if he choses to be an accountant will be an implicit cost as this cost is not paid in actual.

2. Paolo's accounting profit can be calculated by :

  Accounting profit = revenue - explicit cost

                                 = 851,000 - 476,000 - 281,000

                                = $ 94,000

3. Paolo's economic profit is :

   Economic profit = accounting profit - implicit profit

                             = 94,000 - 34,000 - 71,000

                              = -11,000

6 0
3 years ago
The Aust Corporation has gathered the following data on its copy machine costs for the first eight months of the year. Month Num
svlad2 [7]

Answer:

If we use the data of january then the quation of line is

y=mx+c

3500=40000m+2000

3500 is the value on Y axis, 40000 is the value on x axis, m is the slope of the line, 2000 is the Y intersect

the slope of the line will be 3/80 or 0.0375 and this tells the line is positive sloping.

5 0
3 years ago
Other questions:
  • Selected operating data for two divisions of Outback Brewing, Ltd., of Australia are given below: Division Queensland New South
    14·1 answer
  • If fixed costs are $100,000, variable cost per unit is $40, and the selling price is $60, how many units must be sold for the fi
    9·1 answer
  • Pedro owns a 50% interest in a limited partnership that operates an apartment complex. During the current year, the partnership
    10·1 answer
  • What is a new market?
    5·1 answer
  • Linda visits her favorite clothing store and is disappointed to discover that the shirt she was hoping to purchase is out of sto
    9·1 answer
  • A bank provides its customers mobile applications that significantly simplify traditional banking activities. For example, a cus
    8·1 answer
  • 1.Choose one option that defines Pathos:
    10·1 answer
  • Show Me How On February 22, Stewart Corporation acquired 12,000 shares of the 400,000 outstanding shares of Edwards Co. common s
    5·1 answer
  • The Stone Harbor Fund is a closed-end investment company with a portfolio currently worth $310 million. It has liabilities of $3
    8·1 answer
  • Describe a presentation or a briefing you have conducted recently. how did you adapt it to your public? how did your auditors re
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!