What is the unit labor cost of cars

Assignment Help Business Economics

Reference no: EM13984701

Suppose it takes a total of 100 hours to produce a car (mathematically speaking, this means one hour of work “produces 0.01 cars”). If the average wage in car making is $50 per hour, and each car needs $1,000 worth of inputs other than labor, C1: What is the unit labor cost of cars? C2: If both labor productivity and wages double, what happens to unit labor costs? C3: If cars are selling for $10,000, how much profit is generated per car? C4: If the producer can double production speeds by increasing wages to $80 per hour, how much profit will it make per car at this price for cars?

Reference no: EM13984701

Questions Cloud

Compute the payback period for investment : Compute the payback period for this investment.

Consider the case of monopolistic competition : Please consider the case of monopolistic competition.

What is the crossover frequency : A high-pass filter consists of a 1.58μF capacitor in series with a 100 Ω resistor. What is the crossover frequency fc? What is VR when f=12fc? What is VR when f =fc? What is VR when f =2fc?

Find escape velocity from planet from this position of orbit : A satellite is in orbit around a planet with orbital speed determined to be 2010 m/s. Find the escape velocity from the planet from this position of its orbit.

What is the unit labor cost of cars : Suppose it takes a total of 100 hours to produce a car (mathematically speaking, this means one hour of work “produces 0.01 cars”). If the average wage in car making is $50 per hour, and each car needs $1,000 worth of inputs other than labor, C1: Wha..

How may it fail to hold in a monetary economy : What is Say’s Law? How may it fail to hold in a monetary economy? B. Explain how deficit spending may increase national output in a setting of flagging private investment. How does the propensity of consumers to spend their income shape this effect? ..

Purchase the extended warranty : Your product fails about 2% of the time, on average. Some customers purchase the extended warranty you offer in which you will replace the product if it fails. Would you want to price the extended warranty at 2% of the product price? Discuss both mor..

How long does it take the object to go : An object is undergoing simple harmonic motion with frequency f = 7.1 Hz and amplitude A = 0.12 m. At t = 0 the object is at x = 0. How long does it take the object to go from z = 0 to z = 3.6x 10-2 m?

At what point the mass boson would exist : I'm sort of having trouble getting a grasp on at what point the mass boson would exist and how that would work in practical fact.

User Account

All Pages