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svet-max [94.6K]
2 years ago
9

A firm buys two inputs, labor L and capital K, the total amount of which cannot exceed 100 units. The wage is $8, and the rental

rate of capital is $10. The firm can, at most, spend $840 on the two inputs. This data can be summarized in the following equations:
Input limit. K + L = 100
Budget limit: 8L + 10K = 840
What are the quantities of two inputs the firm must buy in order to produce a maximum output, given input and budget constraints?
LE=
K=
Business
1 answer:
balu736 [363]2 years ago
5 0

Answer:

a.

Input limit: K + L = 100

Budget limit: 8L + 10K = 840

b.

L = 80

K = 20

See below

Explanation:

With regards to the above, we need to develop equations and put in function of one of the variable , say with L(labor)

Input limit

K + L = 100. Equation 1

Budget limit

8L + 10K = 840 Equation 2

From equation 1, make K subject of the formula

K + L = 100

K = 100 - L

Substitute for K in equation 2

8L + 10K = 840

8L + 10(100 - L) = 840

8L + 1,000 - 10L = 840

8L - 10L = 840 - 1,000

-2L = -160

L = 80

We can also get the value of K by substituting for L in equation 1.

K + L = 100

K + 80 = 100

K = 100 - 80

K = 20

Since we have the optimum K, we can replace in any of two equations to find the optimum L,

Also, we will replace the input limit and budget limit equation to verify

Input limit

K + L = 100

20 + 80 = 100

Budget limit

8L + 10K = 840

8(80) + 10(20) = 840

640 + 200 = 840

840 = 840

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This example’s procedure is risky and connected to a risky surgery that would be best handled by Edna. Since the contract was based on Edna’s experience, it cannot be transferred to someone with the lower level of expertise required for this activity.In this case, Edna, a renowned brain surgeon in the United States, signs a contract to operate delicately on Ben’s brain. Edna, who has a lot going on, wants to give Charles, a less experienced surgeon who would be doing his first procedure of this kind, this contract because she is so busy.Because the contract between Ben and Edna involves personal talent, Ben can object to and stop this assignment (brain surgery).Evidently, Edna’s position as the top brain surgeon in the USA can be attributed to her competence and professionalism. With this knowledge at his disposal, Ben decided to enter into a contract with Edna, a skilled brain surgeon.

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1 year ago
Moorcroft Company’s budgeted sales and direct materials purchases are as follows:
Rama09 [41]

Answer:

a) Month        Sales

April           $300,000

May            $320,000

June           $370,000

Schedule of expected collections

For the month of June, 202x

Cash sales during June = $370,000 x 40% = $148,000

Collection from June's credit sales = $222,000 x 30% = $66,600

Collection from May's credit sales = $192,000 x 40% = $76,800

Collection from April's credit sales = $180,000 x 26% = $46,800

Total cash collections during June = $338,200

b) Month        DM purchases

April           $45,000

May            $54,000

June           $60,000

Schedule of expected cash payments for direct materials purchases

For the month of June, 202x

Cash purchases during June = $60,000 x 50% = $30,000

Cash payments for May's purchases = $27,000 x 40% = $10,800

Cash payments for April's purchases = $22,500 x 60% = $13,500

Total cash payments during June = $54,300

c) Month        Sales

April           $299,000

May            $337,000

June           $387,000

Schedule of expected collections

For the month of June, 202x

Cash sales during June = $370,000 x 40% = $148,000

Collection from June's credit sales = $222,000 x 30% = $66,600

Collection from May's credit sales = $192,000 x 50% = $96,000

Collection from April's credit sales = $180,000 x 18% = $32,400

Total cash collections during June = $343,000

It would be worth to pay the collector since the 2% reduction in uncollectible accounts is worth much more than the $1,000 that he/she earns.

d) Month        DM purchases

April           $45,000

May            $54,000

June           $60,000

Schedule of expected cash payments for direct materials purchases

For the month of June, 202x

Cash purchases during June = $60,000 x 40% = $24,000

Cash payments for May's purchases = $32,400 x 40% = $12,960

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Total cash payments during June = $53,160

7 0
2 years ago
What is the customer's goal?
ollegr [7]

Answer:

The key aspect of any business, company, or employer is customer service goals.

Explanation:

A customer service department and the staff represent the company and contribute to building the company's public perception. Customer service objectives are specific objectives and guidelines put in place by an enterprise to ensure that every client is 100% satisfied with the services provided by the enterprise. Excellent customer service means that every customer's needs and desires can be met promptly. A customer should never get away with a company or leave a place unhappy.

Improve customer service measurement

<u>Customers goals :</u>

  1. Easy to get in touch with customers
  2. Response times accelerated
  3. Improve customer service measurement
  4. Find ways to create an all-round experience for our customers
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A firm's bonds have a maturity of 10 years with a $1,000 face value, a 9 percent semiannual coupon, are callable in 5 years at $
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Answer:

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Explanation:

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Face value = F = $1,000

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Selling price = P = $1080

Number of payment = n = 10 years x 2 = 20

Yield to maturity = [ C + ( F - P ) / n ] / [ (F + P ) / 2 ]

Yield to maturity = [ $45 + ( 1000 - 1080 ) / 20 ] / [ (1,000 + 1080 ) / 2 ]

Yield to maturity = [ $45 - 4 ] / 1040 = $41 /1040 = 0.394 = 3.94%

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3 years ago
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Answer:

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Explanation:

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