Suppose that Malika's only variable cost is labor. Assume that Malika faces daily fixed costs of $20 and pays all workers the same daily wage of $30.Use the orange points (square symbol) to plot Malika's total cost curve on the following graph using the quantities from the preceding table.TOTAL COST (Dollars)200180160140120100806040200020True40False60 80 100 120 140 160 180 200QUANTITY OF OUTPUT (Pizzas)True or False: The shape of the production function reflects the law of increasing marginal returns.Total Cost Malika's Pizzas is a takeout-only pizza parlor servicing the college campus of Tallahassee that specializes in vegan pizzas. Malika's small shop hasbarely enough room for customers to stand and wait, let alone the four pizza ovens necessary to keep up with the hungry student customers. Malikasigned a lease renting both the four ovens and the storefront for the next year. Due to the terms of the lease and the building's size constraint, Malikais unable to change the store's number of pizza ovens in the short run.However, Malika does face a decision regarding the number of employees to schedule on a weekly basis. Every Sunday, Malika contacts the staff tocommunicate the amount of workers needed on each day of the upcoming week. In the short run, the store employees are variable inputs, andpizza ovens are fixed inputs.The following table presents Malika's daily production schedule.Fill in the blanks to complete the Marginal Product of Labor column for each worker.Output Marginal Product of Labor(Pizzas) (Pizzas)Labor(Number of workers)QUANTITY OF OUTPUT (Pizzas)200180On the following graph, plot Malika's production function using the green points (triangle symbol).Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.Hint: Be sure to plot the first point at (0, 0).1601401201008060402000011234506010013015016023LABOR (Number of workers)A60403020105Production Function(?)

Total cost is equal to the sum of total variable cost and total fixed cost. Total variable cost is…

Suppose that Malika's only variable cost is labor. Assume that Malika faces daily fixed costs of $20 and pays all workers the same daily wage of $30. Use the orange points (square symbol) to plot Malika's total cost curve on the following graph using the quantities from the preceding table. TOTAL COST (Dollars) 200 180 160 140 120 100 80 60 40 20 0 0 20 True 40 False 60 80 100 120 140 160 180 200 QUANTITY OF OUTPUT (Pizzas) True or False: The shape of the production function reflects the law of increasing marginal returns. Total Cost

Suppose that Malika's only variable cost is labor. Assume that Malika faces daily fixed costs of $20 and pays all workers the same daily wage of $30. Use the orange points (square symbol) to plot Malika's total cost curve on the following graph using the quantities from the preceding table. TOTAL COST (Dollars) 200 180 160 140 120 100 80 60 40 20 0 0 20 True 40 False 60 80 100 120 140 160 180 200 QUANTITY OF OUTPUT (Pizzas) True or False: The shape of the production function reflects the law of increasing marginal returns. Total Cost

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Iyana's Pizzas is a takeout-only pizza parlor servicing the college campus of Tallahassee that specializes in vegan pizzas. Iyana's small shop has barely enough room for customers to stand and wait, let alone the four pizza ovens necessary to keep up with the hungry student customers. Iyana signed a lease renting both the four ovens and the storefront for the next year. Due to the terms of the lease and the building’s size constraint, Iyana is unable to change the store’s number of pizza ovens in the short run. However, Iyana does face a decision regarding the number of employees to schedule on a weekly basis. Every Sunday, Iyana contacts the staff to communicate the amount of workers needed on each day of the upcoming week. In the short run, the store employees are (variable or fixed) inputs, and pizza ovens are (variable or fixed) inputs. The following table presents Iyana's daily production schedule. Fill in the blanks to complete the Marginal Product of Labor column for each…
Please see the attached 97
QUESTION 16 1. A 325,000 sf office building is 25% vacant. The remaining occupied sf generates $9,000,000 in annual base rent from tenant leases in place. If annual market rents for comparable properties average $40.00/sf, and if market vacancy and credit loss represent a combined $800,000 in lost annual rent, what is the building's Gross Potential Revenue? Show your work. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). Paragraph Arial 14px O WORDSPOWERED BY TINY
te You must decide whether to buy a new car for $21,000 or lease thesae car over a three year period Under the tarms of the lease, you can make a down payment value. is it less expensive to buy or to lease? The cost for buying the car and selling it after three years of $1000 and have mondly payments od $200 Al the end of the the leased car has a residual value (the amount you pay it you choose to buy the car at the end of the lease period) of $13,00O. Assume you c can sell the new car at the end of the three years at the same residual would be $
2. Allwhite Company sells its single product for P30 per unit. The contribution margin ratio is 45%, and fixed costs are P10,000 per month. Allred has an effective income tax rate of 40%. If Allred sells 1,000 units in the current month, Allwhite's variable expenses would be O Ph 9,900 Ph 12,000 O Ph 13,500 O Ph 16,500
To automate one of its production processes, theMilwaukee Corporation bought three flexible manufacturing cells at a price of $400,000 each. Whenthey were delivered, Milwaukee paid freight chargesof $20,000 and handling fees of $15,000. Site preparation for these cells cost $45,000. Six foremen, eachearning $20 an hour, worked five 40-hour weeks toset up and test the manufacturing cells. Special wiring and other materials applicable to the new manufacturing cells cost $3,500. Determine the cost basis(amount to be capitalized) for these cells.
Downtown Abbey Corp. wants to buy a new sheep-shearing machine. It has narrowed down the choice to two machines that can do the job equally well: Machine name The Shearilizer Naked Sheep Purchase price 10,000 20,000 Useful life (years) 4 7 Maintenance cost (end of each year) 4,000 3,000 The relevant discount rate is 10%. There are no taxes. What is the net present value of all costs associated with the Shearilizer (in absolute terms)? What is the equivalent annual annuity for the Shearilizer (in absolute terms)? What is the equivalent annual annuity for the Naked Sheep (in absolute terms)? Which machine should the company buy? The one with the higher equivalent annual cost The one with the lower equivalent annual cost
You as a businessperson have one million dollars to invest. One option is to invest your money. in a saving account that gives you 8% annual interest rate. But you decide to open a book store instead. You need to rent a place for $7900 per month and hire two workers and pay them each $6000 monthly. The other expenses such as purchases and overhead are $6500 per month. Your store generates $395,000 sales per year. How much is your economic profit? Which business do you choose? explain
With the following information complete the table and answer: Calculate the Sales, Fixed and Variable Costs on the existing lease information using the monthly sales figures provided to you in the data table. Calculate the Sales, Fixed and Variable Costs from the new lease information provided above. Calculate the EBIT (earnings before interest and taxes) for both options by deducting Fixed and Variable Costs from Sales. Moving Espressos No Move Move Units sold per month: 20,000 Unit variable costs: $0.6 Unit variable costs: $0.35 Average unit sales price: $2.20 Current fixed costs: $10,000 Future fixed costs: $12,200 2020 sales month Units Sales Fixed Costs Variable Costs EBIT January 6,582 February 11,121 March 14,178 April 13,692 May 11,597 June 9,599…
1-25 Zoe Garcia is the manager of a small office-support business that supplies copying, binding, and other services for local companies. Zoe must replace a worn-out copy machine that is used for black-and-white copying. Two machines are being considered, and each of these has a monthly lease cost plus a cost for each page that is copied. Machine 1 has a monthly lease cost of $600, and there is a cost of $0.010 per page copied. Machine 2 has a monthly lease cost of $400, and there is a cost of $0.015 per page copied. Customers are charged $0.05 per page for copies. (a) What is the break-even point for each machine? (b) If Zoe expects to make 10,000 copies per month, what would be the cost for each machine?
Bird Wing Bedding can lease an asset for 4 years with payments of $19,000 due at the beginning of the year. The firm can borrow at a 9% rate and pays a 25% federal-plus-state tax rate. The lease qualifies as a tax-oriented lease. What is the cost of leasing? Do not round intermediate calculations. Round your answer to the nearest dollar.
1-25 Zoe Garcia is the manager of a small office-support business that supplies copying, binding, and other services for local companies. Zoe must replace a worn-out copy machine that is used for black-and-white copying. Two machines are being considered, and each of these has a monthly lease cost plus a cost for each page that is copied. Machine 1 has a monthly lease cost of $600, and there is a cost of $0.010 per page copied. Machine 2 has a monthly lease cost of $400, and there is a cost of $0.015 per page copied. Customers are charged $0.05 per page for copies. (c) If Zoe expects to make 30,000 copies per month, what would be the cost for each machine? (d) At what volume (the number of copies) would the two machines have the same monthly cost? What would the total revenue be for this number of copies?