Answer:
Yes the inspector should be hired
Explanation:
Defective average = 0.03
inspection rate = 30 per hour
Cost of inspector = 8 per hour
Correction cost is $10 each
No inspection = 9/30
= 0.300
Inspector = 8/30
= 2.67
Yes the inspector should be hired
<span>An organization's hierarchy of authority refers to an organization's chain of command.
At the top of this chain, you will find the boss of the organization, and under him are his or her employees, who have far less authority that the boss.
</span>
Answer:
The correct option is a. $61.25.
Explanation:
Note: The correct cost function of the farmer is as follows:
C(Q) = 0.05Q^2 ……………….. (1)
Differentiating equation
MC = C’(Q) = 0.1Q
P = Expected price = (25% * $3) + (50% * $3.50) + (25% * $4) = $3.50 ……. (2)
Since profit is maximized when MC = P, we equate equations (1) and solve for Q which is the expected profit-maximizing quantity as follows:
0.1Q = 3.50
Q = 3.50 / 0.1 = 35
Substituting Q = 35 into equation (1), we have:
C(Q) = 0.05 * 35^2 = $61.25
R(Q) = Maximum expected revenue = P * Q = $3.50 * 350 = $122.50
The farmer's maximum expected profit = R(Q) - C(Q) = $122.50 - $61.25 = $61.25
Therefore, the correct option is a. $61.25.
Answer:
$8000
Explanation:
They have to pay $8,000 as an implicit costs.
The implicit expenditure is the advantage of the right to use the personal resources of a company that is not listed as actual, distinct expenditures.
Computation of Implicit cost for the Boston Batting Cage :
Implicit cost = Labor + maintenance + electricity
= $5,000 + $2,000 + $1,000
= $,8000
