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3 years ago

Assume that skilled labor costs twice as much as unskilled labor, a profit-maximizing firm will

1 answer:

N76 [4]3 years ago

4 0

Assume that skilled labor costs twice as much as unskilled labor, a profit maximizing firm will hire until the marginal product of unskilled labor is half that of skilled labor.

A profit maximizing firm is a firm that tries to create products that are of good quality at the barest or smallest cost.

The marginal product falls after an additional amount of the resource has been added. It is the extra amount that is gained due to the addition of an extra unit.

Due to the fact that both the skilled and unskilled would decrease eventually, the company would have to hire both at equal marginal products.

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nexus9112 [7]

Answer:

$7.830

Explanation:

Calculation for the cost per equivalent unit for conversion costs for the month

First step is to compute for the Unit transferred out =

Unit transferred out = 21,400+101,000-34,000

Unit transferred out = 88,400

Second step is to compute for the Equivalent unit of conversion

Equivalent unit of conversion = 88,400+(34,000*70%)

Equivalent unit of conversion = 88,400+23,800

Equivalent unit of conversion = 112,200

Last step is to compute for the Cost per equivalent unit of conversion

Cost per equivalent unit of conversion = (24,700+853,880)/112,200 = 7.931

Cost per equivalent unit of conversion = 878,580/112,200

Cost per equivalent unit of conversion = $7.830

Therefore the cost per equivalent unit for conversion costs for the month is closest to $7.830

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3 years ago

What is income demand curve?<br>

kobusy [5.1K]

Income demand curve ? Well I know it probably has something to do with money

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3 years ago

A process that produces computer chips has a mean of .04 defective chip and a standard deviation of .003 chip. The allowable var

Anarel [89]

Answer:

a) 0.667

b) Yes

Explanation:

Data provided in the question:

Mean = 0.04

Standard Deviation = 0.003

Upper Specification Limit, USL = 0.046

Lower Specification Limit, LSL = 0.034

Now,

a) Capability Index is given as:

Cp = $\frac{(USL-LSL)}{(6\sigma)}$

Cp = $\frac{(0.046-0.034)}{(6\times0.003)}$

Cp = 0.667

Also,

Cpk = min( $\frac{(USL-Mean)}{(3\sigma)},\frac{(Mean-LSL)}{(3\sigma)}$

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Cpk = min( 0.667 , 0.667 )= 0.667

Since,

Cp and Cpk are same in this case

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b) yes

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Answer:

B. Full disclosure principle

Explanation:

Full disclosure principle ensures that all relevant financial information is reported

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