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olasank [31]
3 years ago
9

Production data for Joe's Pizza Parlor are as follows. For simplicity assume that labor is the only input. Each pizza sells for

$5. Number of Workers Pizzas Baked Per Day 0 0 1 10 2 18 3 24 4 30 5 32 How many workers will Joe hire if he must pay each one $35 a day?
Business
1 answer:
Novay_Z [31]3 years ago
7 0

Answer:

Joe's Pizza Parlor

The highest number of workers that Joe will hire if he must pay each one $35 a day is

4 workers.

If he wants to maximize his profits without satisfying customers' demand, Joe can choose to work with 2 or 3 workers.  However, he can renegotiate the worker's wages downwards.

Explanation:

a) Data and Calculations:

Price of pizza = $5

Wage per worker = $35/day

Number of Workers         0     1      2      3        4       5

Pizzas Baked Per Day      0    12   18     24     30     32

Total revenue                   0   60  90   120    150    160

Marginal revenue             0   60  30    30      30      10

Marginal cost of labor      0    35  70   105    140    175

Profit                                 0    25  20     15      10     -15

 

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Blue Corporation (a seller of goods to Cedar Corporation) has made loans to Cedar Corporation, which become worthless in the cur
Arlecino [84]

Answer:

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3 years ago
Assume that investors can borrow and lend at risk-free rate of 5%. The optimal tangent portfolio on the efficient frontier has a
gizmo_the_mogwai [7]

Answer:

B. Portfolio B with E(R)=13% and STD=18%

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= 0.05 + 0.5 × standard deviation

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5 0
3 years ago
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Sunny_sXe [5.5K]

Complete/Correct Question:

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Answer:

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To this effect, participation in sports brings youths together and as such changes their thoughts and are influenced to have discipline, ethics, etc which is an important aspect of sportsmanship. This influences helps to keep youths off the street and out of trouble subsequently.

Cheers.

4 0
4 years ago
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