Luis makes $23. 10 per hour at his job for the first 40 hours he works each week. If he works more than 40 hours, then Luis make
1 answer:
The correct statement will be that Luis earns $1131.90 in each week if he works for more than 46 hours at the standard rates of the salary. So, the correct option is C.
The amount can be calculated by the summation of the first 40 hours at the normal rate of salary and the next 6 hours at the increased rate of salary as given in the example above.
- Hourly pay is the rate of salary where the salary is not determined upon the work done in number of hours and does not get determined on the performance during such hours of service.
- We can calculate the rate of salary as using the calculations below,
- Now calculating the salary for the additional 6 hours worked at the newer rate as below using the similar formula,
- We have the values of salaries of both such hours. Now doing the summation of both the salaries we get,
- It is obtained that Luis earned $1131.90 for the week at the different rates of hourly pays as provided.
Hence, the correct option is C that Luis has earned $1131.90 by working 46 hours in a week.
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Solution
S = 15 x x
Total cost, T = wL + rC = 50L + 100C
Total revenue, R = Output price (P) x Quantity = P x 15 x x
(a)
Optimization problem will be:
Max R = P x 15 x x
Subject to T = 50L + 100C
(b) When S = 50,000
Cost is minimized when (MPL / MPC) = w / r
MPL = R /
L = P x 15 x 0.2 x
= P x 3 x
MPC = R /
C = P x 15 x 0.8 x
= P x 12 x
MPL / MPC = (3/12) x (C / L) = 50/100
C / 4L = 1/2
4L = 2C
2L = C
Substituting in production function,
15 x x
= S
15 x x
= 50,000
15 x x
x
= 50,000
L = 50,000 / (15 x 20.8)
L = 1,914.50
C = 2L = 3,829.00
Total cost ($) = 50 x 1,914.50 + 100 x 3,829.00 = 95,725.00 + 382,900 = 478,625.00
Note: This optimization problem can be solved without using Solver too, as shown here.
Answer:
Average customer life value
CLV = 1260
Explanation:
Fis, we will calcualteteh gross margin.
For that we need the revenue:
We will calculate the average revenue per year:
50% 30 dollars per month = 180
40% 50 dollars per month = 240
10% 80 dollars per month = 96
average annual revenue per customer: 516
now we ill calcualte the gross margin:
revenue 516
maintenance (45)
administrative (30)
gross margin 441
CLV = 1260