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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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Three sources of flexibility in completing primary and support activities are particularly useful for firms using the integrated
AURORKA [14]

Answer:

The correct answer is: b. flexible manufacturing systems, total quality management, and information networks.

Explanation:

A Flexible Manufacturing System or FMS is a group of interconnected workstations through an automated material transport system.  The transport system, as well as other storage systems that can be used, must be automatic. The whole set is controlled by computer

It is known as total quality management to a business management strategy that consists of the study and assessment of the concept of quality in each of the phases of an organizational process. Its purpose is the constant improvement of goods and services offered and the achievement of greater customer satisfaction.

6 0
3 years ago
Negative externalities are created when
katrin2010 [14]

Answer:

The correct answer is (C)

Explanation:

Negative externalities occur when an individual or firm making a choice negatively affect other parties.  A driver who recklessly drives a car on a busy highway is a negative externality because the amusement of the driver is negatively affecting other people. A negative externality arises when the benefit of a decision is less than the negative outcomes of that decision.

3 0
3 years ago
Which of the following kinds of price discrimination occurs when each customer is charged one price for the first set of units p
olasank [31]

Answer:

D

Explanation:

Price discrimination is when the same product is sold at different prices to customers in different markets

types of price discrimination

1. first degree price discrimination : here sellers charge each consumer at their willingness to pay in order to eliminate consumer surplus.

2. second degree price discrimination : here firms offer different prices depending on the quantity purchased. e.g. giving discounts for bulk purchases.  

3, third degree price discrimination : firms charge different prices to different groups of customers. e.g. having a certain price for senior citizens, students  

3 0
3 years ago
Panther Company's bookkeeper debited supplies expense for the cost of goods sold during that month. The bookkeeper discovered th
MakcuM [25]

Answer:

Cost of Goods Sold                                               Dr.

     To Supplies Expense

Explanation:

The journal entry for cost of goods sold should've been:

Cost of goods sold A/C                           Dr.

       To Purchases A/C

(Being cost of goods sold expense recorded)

The wrong entry passed has been:

Supplies expenses A/C                                           Dr.

      To Purchases A/C

The rectifying (correcting) journal entry should be:

Cost of Goods Sold A/c                                           Dr.

      To Supplies Expenses A/C

(Being rectification entry for cost of goods sold recorded)

Cost of goods sold is an expense and expenses should be debited.

At the same time, purchase being a nominal account, crediting it would reduce the purchases balance.

Supplies expense was wrongly debited so it has been credited to cancel out the effect.

7 0
3 years ago
A producer of fixed proportion goods X and Y (Q = Qx = Qy) has marginal costs and revenues of MC = 10 Q, MRX = 150 - 6 QX, MRy =
sammy [17]

Answer:

a. Qx =9, Qy=9

Explanation:

As per the given data

Q = QX = QY

MRX = 150 - 6QX = 150 - 6Q

MRY = 30 - 4QY = 30 - 4Q

MC = 10Q

Now calculate the Marginal revenue as follow

MR = MRX + MRY

MR = 150 - 6Q + 30 - 4Q

MR = 150 + 30 - 6Q - 4Q

MR = 180 - 10Q

The Equilibrium of the producer will be

MR = MC

180 - 10Q = 10Q

180 = 10Q + 10Q

180 = 20Q

Q = 180 / 20

Q = 9

As we know

Q = Qx = QY

Hence, the value of Qx  and QY is 9

7 0
3 years ago
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