7. The three basic inputs of MRP are: 1) the bill of material; 2) inventory on hand, open orders and lead times; and 3) planned order releases. True False
Q: When a profit-maximizing firm is earning profits, what can identify those profits? A. (P – AVC) × Q…
A: Profit maximization is the goal of all the firms operating in the market.
Q: Classify each of the following cost items as mostly fixed or variable 1. Raw materials 2. Direct…
A: Note:- Since you have put a multi-part question, we are providing you with the solutions to the…
Q: When lottery tickets cost $2, Shirley Jackson purchases 10 per week. When they cost $3, she…
A: Arc price elasticity is the elasticity of one variable with respect to another between two given…
Q: S = 20L0.30c0.70 his formula L represents the units of labor input and C the units of capital input.…
A: Both part solved below,
Q: Decreases in the value of property with the passage of time is mainly due to a. deterioration of…
A: Decreases in the value of the property with time are mainly due to the deterioration of parts.…
Q: what is the main difference between average physical and marginal physical product? describe the…
A: Q) what is the main difference between average physical and marginal physical product? APP means the…
Q: 3. Show that, for the two-input CES production function 1. 1-p
A: The CES Production Function refers to a neoclassical production function that shows constant…
Q: 1. Assume the following Cobb-Douglas production function: Y = 0.5K°.2 10.8 If L=100, a. What is the…
A: Here we calculate of the following terms by using the Cobb - Douglas production function so the…
Q: ADVANCED ANALYSIS A firm faces the following costs: total cost of capital = $2,50O; price paid for…
A: a. TC = $2500 + 100 x $14 + 450 x $4 TC = $2500 + $1400 + $1800 TC = $5700 ATC = TC/Output =…
Q: The following three kinds of technological change intue OA larger K. improved inputs, and new…
A: In long run, the technology will brings changes to production process, along with efficiency of…
Q: S = 20L0.30C0.70 this formula L represents the units of labor input and C the units of capital…
A: given that The quantity of steel to be produced is 40,000 tons of steel. (a) The optimization…
Q: 4. Explain fully the concept of a BREAK EVEN ANALYSIS.
A: A break-even analysis is an analysis to determine the point at which revenue received equals the…
Q: (6) If marginal product is greater than average product (a) total product must be increasing.…
A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…
Q: A. Explain how MP = decreasing within the Cobb - Douglas function ( explain the functions and their…
A: Cobb- Douglas production is the technological representation of the two input production approach in…
Q: 13. (Section 4.4) The weekly revenue, R(r), in thousands of dollars, t weeks after January 1st, for…
A: Revenue refers to the money that is generated from a specific business operation, that is calculated…
Q: Problem 2: Investment 1. You have the following information about a firm: DY=AK®$ L°s, 2) A=2,…
A: (i) Y = AK0.5L0.5 Differentiate Y w.r.t K to get MPK => MPK = dY / dK => MPK = 0.5A K0.5 -1…
Q: The change in ourtput or total product the business would achieve in the current period byexpanding…
A: Production of a firm is the process through which the inputs are used to make the final output.…
Q: Instructions: Round your answers to 2 decimal places. a. If you assign one worker per computer, what…
A:
Q: Describe the behaviour of the ATC in relation to MC. Explain
A: Marginal cost (MC) is the additional cost incurred on producing one extra unit of the output.…
Q: Paragraph Styles Answer All Questions. All Questions Carry equal marks. Q#1. Last year, M.Hamed left…
A: An economic profit is the difference between the revenue received from the sale of an output and…
Q: 2-If you have the following production function Q=f( L,K), answer the following : 1. is this…
A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the…
Q: 1. The value input is the total revenues received by the entrepreneur while the value of output is…
A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…
Q: 50. If all inputs are trebled and the resultant output is doubled, this is a case of
A: answer is given below
Q: Explain what is meant by working capital management and discuss the importance of working capital…
A: 1. Working capital management is a business approach for ensuring that a firm functions efficiently…
Q: Farmer Greene faces diminishing marginal product.If she plants no seeds on her farm, she gets…
A: Law of diminishing marginal productivity states that the marginal production from the additional…
Q: Selected accounts with some amounts omitted are as follows Work in Process Oct. 1 Balance 20,700…
A: * SOLUTION :- Given that ,
Q: 5. This is the sequel to a question on the previous P-set that used this aggregate production…
A: Given production function Y=A×K×L For A=2 and K=3 Y(L)=23×L ... (1) For…
Q: b) Discuss and explain the concept of positive return to scale showing it relationship with the…
A: Output TC of Firm 1 TC of Firm 2 TC of Firm 3 AC of Firm 1 AC of Firm 2 AC of Firm 3 1 100 25 50…
Q: Units Produced Labor (hours) Resin (pounds) Capital Invested ($) Energy (BTU) Last Year 1,000 300 55…
A: The quantity of output that can be produced from a specific set of inputs is known as productivity.…
Q: Problem &et Production Functions Given the gallowing hypothetical data an inprt (x) and tätal…
A: Formula to calculate APP (Average physical product):- APP=TPPinput Formula to calculate MPP…
Q: Labor Input TPL APL MPL 1 7 2 18 30 4 44 5 62 78 7 88 94 9 94 10 92 1. Compute the MPL & APL…
A: (1) Labor input TPL APL MPL 0 0 ---- ---- 1 7 7 7 2 18 9 11 3 30 10 12 4 44 11 14 5…
Q: True/False: 1. Implicit costs are those costs, which have been incurred in the past and cannot be…
A: (Since you have posted multiple questions, we will answer the first one for you. If you want a…
Q: Production Function (CH7) Name: The production function shows the relationship (a mathematical…
A: MPL=∆Y∆LTC=FC+VCFC=TC-VCVC=TC-FCAFC=FCYAVC=VCYATC=TCYMC=∆TC∆Y
Q: 4. A firm may only increase its output by increasing the quantities of all types of inputs,…
A: Returns to scale: It is a long-run case in which producers have the opportunity to make changes in…
Q: (b) [2] For the production technology in this question and the initial point r1 = 10 and a2 = 20,…
A: In the above question, it is given that : Production Function: f(x1, x2) = min(2x1, x2) Producing…
Q: 16. As more and more of the factor of production is used The total product curve rises rapidly at…
A: The output generated by all employed workers is referred to as total product.
Q: 2. COMPUTE FOR MP AND AP. EXPLAIN. B. SHORT-RUN PRODUCTION FUNCTION WITH Y=2 Units of Total Variable…
A: "In short-run there is one input which is fixed and the other input is variable. Marginal product of…
Q: Define factors of production and describehow they contribute to output.
A: The process of transformation of inputs into the output is known as the production process.
Q: What is the difference between Interest Accrued and Interest Expense? Can you give me a simple…
A: Accrued refers to something which has happened but is not paid for yet.
Q: 8. The law of diminishing returns only applies in cases where: * a. There is increasing scarcity of…
A: 8) Law of dominshing returns states that as the number of units of a variable inputs is increased,…
Q: 1) Consider the long-run productior of shirts. The cost of the indivisible inpu 3 used in the…
A: Cost of invisible input used in the production of shirts = $400 per day. Addition cost of one shirt…
Q: 40. The profit maximizing stage of production: PMS Begins when Average Physical Product is equal to…
A: Law of diminishing marginal product is a short run concept where some factors are fixed and some are…
Q: The diminishing marginal product implies that the total product is decreasing at an increasing rate
A: Here we can find that the TP first increases in an high rate after which it increases but at a slow…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Problem 11. Calculate AVC and MC at each level of output from the following data: 4 Qutput (Units) 3 1 2 TC (7) 80 180 270 350 440E. A company is evaluating the profitability of a new product. The company must rent a space that will cost $50,000 a month, $25,000 a month in equipment rental, and monthly overhead cost of $20,000. It also costs $1000 in labor and $750 in materials to produce each unit. The company thinks the product will sell for $1975 each. How many units will the company need to produce and sell to break even? How many units will the company need to sell if it wants to earn profit of $10,000? Marlrot noo8. Discuss the impact of the following factors on the optimal method of procur- ing an input. d. Specialized investments. e. Unspecifiable events. f. Bargaining costs.
- 1. Use the following data to answer the questions below about actual food and beverages costs for the Marina Bay Grill for July: Ending Inventory (Food) $68,000 Ending Inventory (Beverage) $23,470 Food Purchases $350.000 Beverage Purchases $24,700 Beginning Inventory (Food) $72,000 Beginning Inventory (Beverage) $19,700 Transfers to Bar $3,870 Beverage Theft/Pilferage $510 Food Over-Portioning Expense $615 Transfers from Bar $4,100 Complementary Food $2,160 Complementary Beverages $890 Employee Meal Cost $11,225 Food Revenues $878,000 Beverage Revenues $116,500 What is the net cost of sales for food and beverage? Indicate dollar and percentage cost. Food: $354,000 Beverages: $20,930 $994,500 total food and beverage sales 878,000/994,500 x 100 = 88% = percentage of sales(food)16 The expenses budgeted for production of 1,000 units in a factory are furnished below: Particulars Per Unit OMR. Material Cost 700 Labour Cost 250 Variable overheads 200 Selling expenses (20% fixed) 130 Administrative expenses (OMR. 200,000) 200 Total Cost 1,480 Prepare a budget for production of 800 units assuming administrative expenses are rigid for all level of production. a. OMR 1,239,300 b. OMR 1,229,200 c. OMR 1,350,000 d. OMR 1,250,000(a) Complete the following table and draw the corresponding graphs. Capital inputs Labor inputs Total product Average product Marginal product 20 0 0 20 1 15 20 2 34 20 3 51 20 4 65 20 5 74 20 6 80 20 7 80 20 8 75 (b) What is relationship between MP and AP? Explain why MP first rises, then declines and ultimately becomes negative? (c) Whether the above phenomenon is long run or short run and why? (d) Does law of diminishing marginal returns holds in above scenario? Why and why not.
- pols Add-ons Help Last edit was seconds ago xt I UA Calibri 11 + 三 2 | 3 II | I 4 II| II6 4. Thanks to years of consistent contracts and an outstanding administration, Crestwood High School has formed one of the best teaching staffs in the State of Michigan. This staff has learned how to work seamlessly with each other and students. They are now able to effectively teach more students in every class than before. *Name the determinant: Automakers have introduced new heating lamps to their paint shops that allow them to dry layers of paint faster than ever before. These newly invented heaters use less energy and have greatly increased output. 5. *Name the determinant: 27°C Rain II 近Of the following functions of physical inventory, select the one that purchasing is mostlikely to be directly involved in: (a) support of production requirements, (b) supportof operational requirements, or (c) support of customer service requirements. Explainyour choice.1. Direct laborrate: $15.00perhour Production material: $375 per 100 items Factory overhead: 125% of direct labor Packing costs: 75%ofdirectlabor Desiredprofit: 20%oftotalmanufacturing cost use the above information to answer how many units must be sold to achieve a profit of $25,000? [Note that the units sold must account for total production costs (direct and overhead) plus desired profit. 2. A small textile plant was constructed in 2004. The major equipment, costs, and factors are shown below. Estimate the cost to build a new plant in 2014 if the index for this type of equipment has increased at an average rate of 12% per year for the past 10 years. Show work and Select the closest answer. a) $4,618,000 b) $10,623,000 c) $14,342,000 d) $ 14,891,000
- The technically officient combination of two products a business cản produce in the current period given its existing resources and teohnology is: (A) The production possibilities frontier (b) The marginał rate of product transformation (c). The least cost .combination of two products (d) The maiginal physical productThe teohnically efficient combiaation of two products a business cän produce in the current period given its existing resources and teohnology is: LA) The production possibilities frontier (b) The marginal rate of product transformation (c). The least cost.combination of two products (d) The maiginal physical product34. When the TC = TR can you say that you are breakeven or not? Why or why not? Explain.