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- Marginal analysis is Group of answer choices measuring total benefit measuring total costs measuring companies that are weak or marginal measuring the value of each additional unit Involves advanced mathematics All of the above Solve with no plagiarismCosts that do not vary with output are Question 8 options: a) fixed costs b) variable costs c) marginal costs d) explicit costsA snowboard company hires 10 skilled employees who are paid a weekly wage of $1000. The cost of capital is $3000 and it is fixed, which means that it does not vary with output. The company is currently producing 240 snowboards. The company's cost will be $13500 if it produces an additional snowboard. A customer is willing to pay $550 for the 241st snowboard. a) Should the company produce and sell it. YES/ NO b) Explain c) What core principles are considered in the snowboard company's decisionmaking? i) Scarcity, Chioce and Opportunity Cost ii) Cost benifit analysis iii) Incentive principle iv) Diminishing returns Select one: 1. All principles are considered 2. (i) only 3. (i) and (ii) only 4. (i), (ii) and (iii) only 5. (ii) and (iii) only 6. (i) and (iv) only 7. (ii) and (iv) only 8. (iii) and (iv) only 9. (ii), (iii) and (iv)
- The following is cost information for the Creamy Crisp Donut Company. Entrepreneur's potential earnings as a salaried worker = $55,000 Annual lease on building = $23,000 Annual revenue from operations = $320,000 Payments to workers = $130,000 Utilities (electricity, water, disposal) costs = $8,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000 Entrepreneur's forgone interest on personal funds used to finance the business = $6,000 Creamy Crisp Donut Company Multiple Choice has lower explicit costs, than implicit costs. is earning a normal profit but not an economic profit. is earning an economic profit. is suffering an economic loss, when implicit costs are considered.Which of the following sources of low costs is most popular? Group of answer choices Economies of scale "Technology" software Differential access to low-cost inputs Learning curvesEmployees at the Jackson Hole Corporation typically take forty-five minutes for lunch when the allocated time is only thirty minutes. Employees are encouraged to eat at the company cafeteria located in the middle of the company facilities. Most employees choose to eat their lunch in the cafeteria. Is there an agency cost here? If so, how can management eliminate or reduce this agency cost? How might management eliminate this agency cost? (Select all that apply.) A. If the facilities are sufficient to handle a thirty minute lunch the solution may be as simple as reaffirming the lunch break time with the employees. B. It may be more costly to enforce the thirty minute lunch time than to accept the standard forty-five minute break currently used by employees. Not all agency costs can be eliminated or reduced. The norms of the employees and the ability of current facilities to support a policy need to be considered when setting policies, in this case the length of the lunch…
- Briley Cosmetics manufactures and distributes a wide range of skin care products. A recent order has arrived for 10,000 cartons of face cream, 5,000 cases of body cream, and 15,000 cases of hand cream. The manufacturing process consists of a two-stage procedure that uses two types of raw materials (A and B). Briley’s monthly production capacity (first shift) is 15,000 labor-hours for stage 1 and 10,000 for stage 2. The first shift hourly rates are $8.50 for stage 1 and $9.25 for stage 2. A second shift is available with a 10% reduction in capacity and a 10% increase in wage rates. The cost for raw materials is $1/pound for Type A and $1.50/pound for Type B. The manufacturing facility has available for the next production run 200,000 pounds of Type A and 150,000 pound of Type B. The following table summarizes the resource requirements to produce each product. Briley can also subcontract with a local supplier for face cream and body cream at a cost of $40/carton and $55/carton,…Entrepreneur's potential earnings as a salaried worker = $40,000 Annual lease on building = $25,000 Annual revenue from operations = $420,000 Payments to workers = $150,000 Utilities (electricity, water, disposal) costs = $8,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000 Entrepreneur's forgone interest on personal funds used to finance the business = $6,000 Creamy Crisp Donut Company Multiple Choice has lower explicit costs, than implicit costs. is earning a normal profit but not an economic profit. is earning an economic profit. is suffering an economic loss, when implicit costs are considered.Firms Profitabilty a) can be enhances by the development of better products. b) can be undercut by the development of better products. c) can be tied to performance pay for both managers and workers. d) all of the above
- Consider the data in the table which applies to the provision of psychological testing services. Calculate the variable production cost per unit (one unit = one test) if the number of tests is 400 per month. Sales per unit $320 Fixed costs (per month) Selling and administration 16,000 Production overhead 16,000 Variable costs (per test) Labor for oversight and feedback 140 Outsourced test analysis 22 Materials used in testing 7 Production overhead 15 Selling and administration 12Topic: Marginal Analysis Study Case Presentation of Data Clearly and logically presented tables/graphs/diagrams/formulas/definitions, that are labelled correctly, used appropriately, and reflect the data presented in Question prompt i.e. Express Data presented in Question prompt Describe/Define any theory/concepts needed for the analysis List any formulas that will be needed for the analysisAt the profit maximizing level of input use, Which of the following are true? (i) MVP=0 (ii) MVP=MIC (iii) MPP=MVP (iv) MVP=MVIC