Answer:
"Job Shop" would be the appropriate solution.
Explanation:
- A workshop seems to be a small enterprise or organization that makes unique items within one person at the same time. It is a production unit that deals in tailor-made including custom-built components in limited amounts.
- Under that same production or manufacturing economy, a large number of products are manufactured with smaller quantities requiring a remarkable setup as well as production measures.
Answer: 48
Explanation:
Firstly, we need to solve the marginal product which will be:
= dM/dx
= d(100x - x²)/dx
= 100-2x
At socially optimal level, it should be noted that:
Price × Marginal Product = Cost
90 × (100-2x) = 400
9000 - 1800x = 400
1800x = 9000 - 400
1800x = 8600
x = 8600/180
x = 47.77
x = 48
Therefore, the optimal number of workers will be 48.
CONSUMPTION FUNCTION:
It is the relationship between consumption expenditure and the level of disposable income.
C = f (Yd) , where
C represents the consumption expenditure
Yd represents disposable income
It shows how a change in income influences the consumption pattern
SAVING FUNCTION:
It is the relationship between savings and the level of disposable income
S = -S(bar) + sYd
where
S(bar) is autonomous saving
s represents marginal propensity to save
Yd represents disposable income
it shows how change in income influences savings
Answer:
the equivalent units of production for materials for the month of January is 89,100 units
Explanation:
The computation of the equivalent units of production for materials for the month of January is shown below:
= Units completed + completed units in ending inventory
= (89,100 units - 19,200 units) + 19,200 units
= 69,900 units + 19,200 units
= 89,100 units
hence, the equivalent units of production for materials for the month of January is 89,100 units
Answer:
If Jack bought 21 DVDs last year when his income was $30,000 and he buys 23 DVDs this year when his income is $35,000, then his income elasticity of demand is <u>0.571</u> which means that DVDs are a(n) <u>normal </u>good for Jack.
Explanation:
Ei = ⌂Q/Q /⌂I/I
⌂Q = 23-21 = 2
⌂I = 35000-30000 =5000
I = 30000
Q=21
Ei=⌂Q/⌂I * I/Q = 2/5000 * 30000/21 = 2*6/21 =12/21 = 0.571
The income elasticity of demand is 0.571
