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!
Labor to Maximize Profits
Sullivan's Custom Cabinets operate in a perfectly competitive market and employs labor and capital. Labor costs $30 a day. Machines cost $36 a day. Currently, Sullivan's has six machines and the marginal revenue product of capital is $30. Output sells at $5 per unit. Sullivan's hires you as a consultant and provides you with the following production function.
Workers (days)
Total Output
1
9
2
17
3
24
4
30
5
35
6
39
7
42
1. Explain, in your own words, the meaning of MRP.
2. How is MRP computed?
3. Using the data presented, in the short run, how many workers would you recommend Sullivan's hire per day to maximize profits?
4. Explain how you arrived at this number.
Question?
Choose a business which you are familiar and identify the types of tangible capital in use. What causes changes in physical capital stock? What types of intangible capital do you think are in use?
How can companies raise the funds necessary to purchase these capital items? Be sure to identify the company and what type of business they are in your response.
Is it price discrimination when a professional football team charges say,$150 per ticket for 50-yard-line tickets in the lower deck and $50 per ticket for upper-deck tickets overlooking the end zone
Normal 0 false false false EN-US X-NONE X-NONE A quality control engineer ..
discuss the three situational determinants in fiedlers leadership theory that allow a leader to determine the
What factors determine the elasticity of industry’s labor demand curve? Based on these factors, discuss labor demand for factory line workers versus labor demand for nurses, which one would be more elastic?
Are you in favor of either deficit spending on the part of government or one of a balanced federal budget and budget surpluses?
Buyers consider Marlboro cigarettes and Budweiser beer to be complements. If Marlboro just increased its prices, what would you expect to occur in the Budweiser market?
debbie listens only to frank zappa or weird al yankovic. she currently buys 10 zappa and 20 yankovic downloads per
Basic economic facts about modern society
andy and beth are neighbors in a small duplex. in the evenings after work andy enjoys practicing the tuba while beth
what is the definition of price elasticity of demand? explain the relationship between price elasticity and total
What type of property ownership does the following describe? George and Martha each own an undivided interest in a house and surrounding land they call "Mount Vernon;" at George's death his interest passes automatically to Martha.
the second largest public utility in the nation is the sole provider of electricity in 32 counties of southern florida.
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