Answer:
The answer is E.
Explanation:
Total payment from customers is:
$537,400 + $737,500
= $1,274,900
Weighted average delay from customer A is:
($537,400/$1,274,900) x 3
=1.26 days
Weighted average delay from customer B is:
($737,500/$1,274,900) x 1
=0.58 day
Therefore, total weighted average delay is:
1.26 days + 0.58 day
=1.84days
Answer:
The correct answer is: The second worker.
Explanation:
Productivity is an economic term describing the relationship between outputs as compared to inputs needed to produce those outputs. It is a measure of efficiency. Typically inputs are raw materials, labor, and capital assets. Outputs are generally expressed as either revenue or total units of finished goods.
In the example, a form to measure each worker's productivity is comparing how many plastic labels they can place per hour. Thus:
- Worker 1: <em>1000 per 1/2 hour (30 minutes)
</em>
- Worker 1: <em>2000 per 1 hour </em>
- Worker 2: <em>850 per 1/3 hour (20 minutes)</em>
- Worker 2: <em>2550 per 1 hour
</em>
Then, the second worker is more productive.
Answer:
C. $4000
Explanation:
Given that
Total opportunity cost = salary plus interest forgone, that is 50,000 + 6% of 100,000
= 50,000 + 6000 = 56,000.
Total revenue received = 60,000
Recall that
Economic profits = Revenue - (implicit + explicit cost)
And that
Implicit cost = opportunity cost = 56,000
Explicit cost = 0 (from the question, revenue covered it)
Thus
Economic profit = 60000 - 56000
= $4000
Answer:
-0.10
Explanation:
To calculate this, we us the formula for calculating elasticity of demand (E) relevant for the demand equation as follow:
E = (P / Q) * (dQ / dP) .............................. (1)
Where,
Q = 30
P = 90
E = -0.3
dQ / dP = b = ?
We then substitute all the value into equation (1) and have:
-0.3 = (90 / 30) * b
-0.3 = 3 * b
b = -0.3 /3
b = -0.10
Therefore, appropriate value for the price coefficient (b) in a linear demand function Q is -0.10.
NB:
Although this not part of the question, but note that how the linear demand function will look can be obtained by first solving for the constant term (a) as follows:
Q = a - 0.10P
Substituting for Q and P, we can solve for a as follows:
30 = a – (0.1 * 90)
30 = a – 9
a = 30 + 9 = 39
Therefore, the linear demand equation can be stated as follows:
Q = 39 – 0.1P
Answer:
The number of adult tickets is 371.
The number of children's tickets is 629
Explanation:
Let A be the number of adult tickets sold and C be the number of children's tickets sold. The following linear system can be modeled based on the information provided:
Solving the linear system:
The number of adult tickets is 371.
The number of children's tickets is 629.
