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Illusion [34]
3 years ago
11

A small assembly line currently produces 8000 widgets per week. Assume that there are two inputs: labor and materials. There are

5 employees, each working 40 hours per week for an hourly rate of $15. Each week 100 lbs of materials are used, which cost $50 per lb. What is the weekly productivity level for this operation
Business
1 answer:
Ostrovityanka [42]3 years ago
5 0

Answer: 1 widget per dollar

Explanation:

The weekly productivity level for this operation will be calculated thus:

Output = 8000 widgets per week.

Input = Labor Cost + Material Cost

= (5 × 40 × $15) + (100 × $50)

= $3000 + $5000

= $8000

Productivity = Output / Input

= $8000 / $8000

= 1 widget per dollar

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If at optimum output of 1,000 units, the firm is incurring average variable cost per unit of $3, average fixed cost per unit of
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We know, Profit= Total\ revenue - Total\ cost

First, lets find out total cost

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Remember, cost= average\ cost\times quantity

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Variable\ cost= \textrm{average variable cost per unit}\times quantity

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