When he took over the furniture factory three years

Assignment Help Business Economics

Reference no: EM131169284

A magazine, in an article dealing with management, wrote, “When he took over the furniture factory three years ago … [the manager] realized almost immediately that it was throwing away at least $100,000 a year worth of wood scrap. Within a few weeks, he set up a task force of managers and workers to deal with the problem. And within a few months, they reduced the amount of scrap to $7,000 worth [per year].” Was this necessarily an economically efficient move? Explain your answer.

Reference no: EM131169284

Questions Cloud

What will happen to the quantity of apples demanded : The own price elasticity of demand for apples is −1.5. If the price of apples increases by 10 percent, what will happen to the quantity of apples demanded? You are the manager of a supermarket, and you know that the income elasticity of peanut butter..

Past few years with wal marts unprecedented store growth : Discuss. Over the past few years with Wal Marts unprecedented store growth, it has been found, that one community may welcome it while another residential area may not. Could we assume that a higher income community may actually block Wal Mart’s entr..

True regarding the grand jury system : Which of the following is true regarding the grand jury system?

What are the firm atc at these three levels of production : A firm in a purely competitive industry is currently producing 1,000 units per day at a total cost of $500. If the firm produced 800 units per day, its total cost would be $350, and if it produced 500 units per day, its total cost would be $325. What..

When he took over the furniture factory three years : A magazine, in an article dealing with management, wrote, “When he took over the furniture factory three years ago … [the manager] realized almost immediately that it was throwing away at least $100,000 a year worth of wood scrap. Within a few weeks,..

Assumptions of perfect competition hold : If all the assumptions of perfect competition hold, why would firms in such an industry have little incentive to carry out technological change or much research and development? What conditions would encourage research and development in any of the c..

Axes appropriately and indicate numeric values of intercepts : The monthly demand (Q) for video game consoles at the local Better Buy is described by the following multivariate linear demand function: Using the information given, graph the video game console demand curve. (Label the graph's axes appropriately an..

Detecting the source of errors when computer system fails : You are responsible for detecting the source of errors when the computer system fails. From your analysis you know that the source of error is the disk drive, computer memory, or the operating system. You know that 50% of the errors are disk drive er..

User Account

All Pages