Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
William is the owner of a small pizza shop and is thinking of increasing products and lowering costs. William's pizza shop owns four ovens and the cost of the four ovens is $1,000. Each worker is paid $500 per week.
Show all of your calculations and processes. Describe your answer for each question in complete sentences, whenever it is necessary.
Which inputs are fixed and which are variable in the production function of William's pizza shop? Over what ranges do there appear to be increasing, constant, and/or diminishing returns to the number of workers employed?
What number of workers appears to be most efficient in terms of pizza product per worker?
What number of workers appears to minimize the marginal cost of pizza production assuming that each pizza worker is paid $500 per week?
Why would marginal productivity decline when you hire more workers in the short run after a certain level?
How would expanding the business affect the economies of scale? When would you have constant returns to scale or diseconomies of scale? Describe your answer.
Verified Expert
The first one required solving a tablefor cost functions and returns to factor and scale.
If the demand curve is much more inelastic than the supply curve, clarify whether buyers or sellers will shoulder more of the tax burden from a new tax placed on the sellers.
Ann Page Corporation has fixed expenses of $30,000 per year. Variable expenses per unit are $17. Sales price per unit is $30.
Who profit by this law. Under Illustrate what circumstances would restaurant voluntarily provide free transportation. Use a supply and demand graph to justify your answer.
If a tax were to be imposed on one of these items, for which item would the tax be the most efficient.
Should food and beverage advertising to children be banned? What about for other types of products as well? Is it unethical for food companies to target their ads towards children? In a period when most parents are working, how are children to be pro..
Your company has a customer who is shutting down a production line, and it is your responsibility to dispose of the extrusion machine. The company could keep it in inventory for possible future product and estimates that the reservation price – the v..
Using the same product example above, analyzing how the risk tolerance factors play in supplying the good or service and how this should influence management’s decisions.
Gatekeeper models of MCOs require patients to see a primary care doctor before going to see a specialist. What two key economic principles would be involved in a successful gatekeeper program?
Elucidate situations which use the IS-LM-FX model to illustrate the effects of the shock. For each case, state the effect of the shock on the following variables.
Three months ago you purchased, at par, a $100,000 bond with a stated interest rate of 5%. Today, the Federal Reserve announced
What is the level of price, output, and amount of profit for an unregulated monopolist? (b) Using the data in the table, what are the price, output, and profit for a regulated monopolist that sets price equal to marginal cost compared with an unregul..
Explain how specifically does this information affect your desire to sign a two-year contract with Toy Yachts R Us.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd