Supply curve for an output-maximizing firm

Assignment Help Business Economics
Reference no: EM133130901

Table 7.1 provides personnel numbers for a unit in a hospital. 

Categories of Work Hours

Number of Hours

Direct hours

3,108

Indirect hours

928

Non-productive hours

760

UOS or HPPD

436

Survey period

14

Part One: 

Use the provided data in table 7.1 to calculate and interpret in writing the following figures for the unit:

  1. Total worked (or productive) hours
  2. Total paid hours
  3. Total direct hours (or variable) worked per UOS or HPPD
  4. Total indirect (or fixed) worked hours per UOS or HPPD
  5. Total worked (or productive hours) per UOS or HPPD
  6. Total paid hours per UOS or HPPD
  7. Average daily UOS

Part Two:

Assume a hospital unit records 2,036 full-time hours and 326 part-time hours within one week. How many full-time equivalents (FTE's) does this unit have?

Explain what happens to the supply curve for an output-maximizing firm if it increases the quality of their visits.

Reference no: EM133130901

Questions Cloud

Calculate the balance in work in process on july : By July 31, Jobs 13-43 and 13-44 were completed and sold. Jobs 13-45 and 13-46 were still in process. Calculate the balance in Work in Process on July
What is the economic profit in market : A monopolist sells in two geographically divided markets, the east and the west. Marginal cost is constant at $50 in both markets. Demand and marginal revenue i
Separate diagram showing an increase in supply : On a piece of paper, draw a diagram showing an increase in demand and a separate diagram showing an increase in supply. Please make sure your diagrams are well-
Present a summary of the health care system : Present a summary of the health care system in Australia, including funding, factors affecting health, laws, and legislations that impact the nursing profession
Supply curve for an output-maximizing firm : Table 7.1 provides personnel numbers for a unit in a hospital.
Calculate the issue price of these bonds : Wildhorse College is about to issue $0.95 million of 10-year bonds that pay a 6% annual interest rate, Calculate the issue price of these bonds
What is the ending PP-E balance : You know the beginning balance of PP&E is 800, the capital expenditures for the year are 200 and depreciation is 50, what is the ending PP&E balance
Find the equilibrium price and the equilibrium quantity : Suppose that the market demand function for ice cream (IC) is given by QdIC= 12000-2000PIC and the market supply function for ice cream is given by Qs­­IC= 2000
Journalize the transactions : Journalize the transactions - Issued 10,000 shares for equipment having a $650,000 asking price. The stock had a market value of $70 per share

Reviews

Write a Review

Business Economics Questions & Answers

  Perfectly competitive industry is initially in a short-run

A perfectly competitive industry is initially in a short-run equilibrium in which all firms are earning zero economic profits

  A firm has two variable factors of production

A firm has two variable factors of production (x, y) with a production function q(x,y) = x^1/3*y^1/3. The price of output is p, the price of factor x is wx, and the price of factor y is wy. - Find the factor demand curves x*, y*, and the optimal cons..

  Discuss the impacts of marginal utility

Discuss the impacts of marginal utility. Imagine that you are a seller of sunglasses: How can you increase the consumer demand curve by helping increase the marginal utility for consumers? Detail specific steps to take and provide examples.

  Business law perspective what an entrepreneur

Compose a highly researched paper that explains from a business law perspective what an entrepreneur should know and do in order to successfully.

  Present worth of depreciation charges assuming interest rate

XYZ Machining Inc. is considering the purchase of a small truck car at a cost of $18,000. The truck is expected to have a service life of eight years and a salvage value of $2,500. Develop the complete depreciation schedule for the truck showing year..

  Characteristics of supply and demand

Explain the law of supply, and why the supply curve slopes upward? How is the market supply curve derived from the supply curves of individual producers? Identify what are the major determinants of price elasticity of demand?

  Is there a business rationale for such a strategy

1. During the early days of the Internet, most dot-coms were driven by revenues rather than profits. A large number were even driven by "hits" to their site rat

  Definition of oligopoly

Which of the following most closely approximates our definition of oligopoly?

  Draw the cash flow diagram

At the end of year 6, it will be donated to Metro U's School of Engineering. The donation will save $2000 in taxes. Draw the cash flow diagram.

  What is the income elasticity of demand for farm goods

Suppose that consumers’ incomes increase by 16 percent, which results in a 0.4 percentage increase in the consumption of farm goods at current prices. What is the income elasticity of demand for farm goods?

  Preferences consistentwith diminishing marginal utility

Are these preferences consistent with the lw of diminishing marginal utility

  Comparative advantage as augmented by endowment theory

Project 2 will consist of an application of the theory of comparative advantage as augmented by endowment theory. In your report, consider the economic inventory of the USA and use that inventory to predict the top 3 items the country is likely to ex..

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd