Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 11, 2024

If the marginal revenue product (MRP) of the third worker is $75, then the price of a unit of output must be: Number of Chefs

If the marginal revenue product (MRP) of the third worker is $75, then the price of a unit of output must be:

Number of Chefs Number of Pizzas per day

1 5

2 25

3 40

4 50

5 55

6 58

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial economics

Authors: william f. samuelson stephen g. marks

7th edition

9781118214183, 1118041585, 1118214188, 978-1118041581

More Books

Students also viewed these Economics questions

Question

★★★★★

Polymer composite materials have gained popularity because they have high strength to weight ratios and are relatively easy and inexpensive to manufacture. However, their nondegradable nature has...

Answered: 1 week ago

Question

★★★★★

The Farmers State Bank recently has been earning an above average (compared to the overall banking industry) return on total assets of 1.50 percent. The banks return on common equity is only 12...

Answered: 1 week ago

Question

★★★★★

Using the Benign Breast Disease data set and the appropriate confidence interval formula, compute a 95% confidence interval for the mean weight of (a) the case group (???? = 50). (b) the control...

Answered: 1 week ago

Question

★★★★★

KeySpan Corp. is planning to issue debt that will mature in 2035. In many respects, the issue is similar to the currently outstanding debt of the corporation. Using Table 11-2, identify: a. The yield...

Answered: 1 week ago

Question

★★★★★

An oil drilling company must choose between two mutually exclusive extraction projects, and each costs $12 million. Under Plan A, all the oil would be extracted in 1 year, producing a cash flow at t...

Answered: 1 week ago

Question

★★★★★

A firm is currently using two inputs: labor and capital. It rents equipment for $1,000, which produces a value of the marginal product of $5,000. It hires workers at $10 per hour, who produce a value...

Answered: 1 week ago

Question

★★★★★

A college basketball coach has 12 players on his team. Eight players are receiving scholarships, and four are not. The coach decides to select a starting lineup by selecting five names out of a bowl....

Answered: 1 week ago

Question

★★★★★

A. Suppose stock in Watta Corporation has a beta of .80. The market risk premium is 6 percent, and the risk-free rate is 6 percent. Watta's last dividend was $1.20 per share, and the dividend is...

Answered: 1 week ago

Question

★★★★★

Annie's Bakery sold $5,000 of cookies this month. Annie determined that her fixed costs are $2,000 per month and her net operating income was $1,000. What is Annie's Bakery's contribution margin? a.)...

Answered: 1 week ago

Question

★★★★★

Five sequential operations have the following hourly production rates. A=150, B=175, C=95, D=88, E=120. What is the hourly throughput rate?

Answered: 1 week ago

Question

★★★★★

Tata Motors is primarily targeting emerging countries (e.g., Africa, Asia Pacific, Middle Eastern, and Latin America for its future exported growth.) Is this a viable and logical exporting strategy?

Answered: 1 week ago

Question

★★★★★

Question 1: Banks can adopt several types of current marketing strategies, determine which one of them is most important for banks in Palestine. Why? (6 points )

Answered: 1 week ago

Question

★★★★★

The Accounting Equation: The Basis for Useful Information Tang Industries reported a 100 percent increase in Owners equity and a 70 percent increase in total assets during the year. The balance sheet...

Answered: 1 week ago

Question

★★★★★

Using Ledger Accounts to Classify Information The owners equity of Blowen Company at January 1 consisted of $300,000 of common stock outstanding and $520,000 of retained earnings. Assuming no...

Answered: 1 week ago

Question

★★★★★

By analyzing the information in Exercise 8-16, prepare a statement of cash flows. Use the direct method to report cash flows from operating activities.

Answered: 1 week ago

Previous Question Next Question