Classify each of the following cost items as mostly fixed or variable 1. Raw materials 2. Direct Labor 3. Depreciation 4. Supplies 5. Utilities 6. Property taxes 7. Interest on borrowed money 8. Administrative salaries 9. Payroll taxes 10. Insurance (building and equipment) 11. Clerical salaries
Q: 1. Scenarios in which costs are experienced later than the action to incur the cost are called, a. I...
A: In an economy, there are different types of cost incurred based on the type of transaction.
Q: A machine is designed to produce insulating washers for electrical devices of average thickness of 0...
A:
Q: There are several identical firms in a perfectly competitive market in the long run. Each firm faces...
A: A perfectly competitive firm produces at P = MC = ATC in long run. ----------------------- TC = 400...
Q: In a given year, based on concepts similar to those used to estimate U.S. employment figures, the Sw...
A: People who are actively looking for a job and are able to work are considered unemployed and people ...
Q: about the wage in order for a given worker to be a participant? Give the mathematical condition whic...
A: *Answer: Reservation wages refers to that wage level below which the labor chooses not to work . ...
Q: A new electric saw for cutting small pieces of lumber in a furniture manufacturing plant has a cost ...
A: In the question above, it is given : Original Cost = $4000 Depreciate Life = 10 years Salvage Value ...
Q: Among the adult population of a certain town 50 per cent are males, 60 per cent are wage earners and...
A:
Q: How does age impact on job mobility? Explain in short
A: Job is a word that is used to define the work that is done by an employed person. The job helps peop...
Q: Nokia sells a new budget cell phone. Based on information provided by the accounting department, the...
A: Total cost is sum of fixed cost and variable cost. Fixed cost does not depend on quantity whereas va...
Q: Republic Act 11203 or the Rice Tariffication Law was passed in the Philippines last 2019. With the c...
A: Positive effects of the Law:- Cheap retail prices charged to consumers:- As there is no boundation ...
Q: DARPA is planning to purchase a new machine.The initial investment required for this is $60000.The m...
A: Given Investment on machine = 60000 $ annual revenue = 1500 $ Annual expense = 500 $ Time = 6 years...
Q: 9. How many Thneeds are you willing to produce at C0. How many Thneeds are you willing to produce at
A: Demand and supply In an economy there is always a demand for goods and services and the supply of g...
Q: What has happened to the macroeconomic over the past two years? What is happening with the macroecon...
A: Macroeconomics is the study of a country's or region's overall economic behaviour.. It is concerned ...
Q: Ellah buys a discount bond for $920. When the bond matures, she redeems it for its face value of $10...
A: Buying price of bond = $920 Future value = $1000
Q: In the novel and film The Princess Bride, the villain Vizzini kidnaps the princess. In an attempt to...
A: Given information There are 2 players Westley and Vizzini It is a game of Battle of wits. There are ...
Q: 2. An electronic device is available that will reduce this year's labor costs by $10,000. The equipm...
A: Labor Costs saved annually = 10,000 Life of Equipment = 8 years Rate of interest = 12% Though the...
Q: 8. Andrew and Vladimir are neighbours who enjoy consuming caviar. The demand curve for caviar for An...
A: Given Andrew's inverse demand function: p=40-q Vladimir's inverse demand function: p=80-4q There is...
Q: Which of the following is not characteristic of capitalist thought?a. Private individuals have a rig...
A: Capitalist economy: - it is that economic system where the price, quantity, and types of goods and s...
Q: Cosmopolitan democracy is one of the ideas propounded in the wake of globalization. What does it mea...
A: The process through which the world becomes interconnected due to a massive increase in cultural exc...
Q: how to conduct a market demand analysis for a recreational facility?
A: Market demand analysis is an economic tool that different organizations use to determine how much cu...
Q: Consider the following open economy model: C = CO + cYD YD= Y I= I0. br NX = No - n¡Y + n2Yf + n3R M...
A: since you have asked multiple questions and according to policy we can solve only 1 question and for...
Q: prepare a forecast for your company's product, Bottled Water. Discuss the type of information you mi...
A: Business forecasting is something that defines the future of a business by learning from past circum...
Q: Which of the following reduce the government's ability to engage in stabilization policies to offset...
A: In an open economy, government plays a significant role in influencing the overall economic activiti...
Q: What is a monetary union? Discuss the advantages and drawbacks in forming such an arrangement
A: The agreement b/w two or more nations to create a common currency region is known as monetary union....
Q: 15. If a financial institution has a portfolio that half (50%) consists of bonds with a tenor of fiv...
A: The financial portfolio is made for minimizing the risk and maximizing the profit.
Q: ndia produces wheat that it consumes domestically and exports to Sri Lanka. Sri Lanka doesn’t produc...
A:
Q: Tom's utility function is u(x,x,) = In(x,)+2 In(x,) and Sally's utility functic u(x,,x2) = min{x, } ...
A: utility function is an important concept that measures preferences over a set of goods and services....
Q: Use the given scenarios and the information you have learned about Fiscal and Monetary policy to com...
A: Monetary and fiscal policy are both macroeconomic tools for managing or stimulating the economy. Int...
Q: Define Say’s Law
A: Economics studies the way of economies work.
Q: A contractor imported a bulldozer paying P350k to the manufacturer, freight & insurance charges amou...
A:
Q: Consider tne production functions for good X and good Y: X = K? + L; Y = 20\KL A. Show and discuss w...
A:
Q: Explain the hedonistic wage function in short with a diagram
A:
Q: A bridge that was constructed at a cost of P 75M is expected to last 30 years, at the end of which t...
A: Capitalized cost is the current worth of cash flows that will continue forever. Dams, bridges, and p...
Q: Question 14 The deviation of unemployment from its natural rate is called O frictional unemployment....
A: Natural rate of unemployment is the unemployment even actual output produced is equal to the potenti...
Q: 1. True or False: explain why your answer is true or false a. We can expect the average cost curve ...
A: The average cost of production is calculated by dividing the total cost (TC) by the total output (Q)...
Q: Based on estimates the data for 2 types of bridges with different lives are as follows. If the minim...
A: We have given MARR=9% Timber Bridge Steel Bridge First Cost P500,000 P1,400,000 ...
Q: Lorenzo has the following labour supply curve: Labour Supply LABOUR (Hours) between w3 and w1 betwee...
A: The graph shows backward bending labor supply where labor supply is initially upward sloping and the...
Q: The effects of a budget deficit can be offset by: a. External financing b. Crowding out c. A structu...
A: In June 2012, economist Laura D'Andrea Tyson wrote: By itself, an increase in the deficit, either in...
Q: The daily consumption of milk in a city, in excess of 20,000 litres, is and A = 2. The approximately...
A:
Q: 1. Economies of Scale Consider the following table of long-run total costs for three different firms...
A: PLEASE FIND THE ANSWER BELOW.
Q: AJM distributors has hired you to provide financial advice on a product being sold. They have suppli...
A:
Q: Commodity Unit January February Маrch April May ROOT CROPS Carrots 97,887 62,325 17,883 9,815 31,248...
A: Given information Pimentos is working under perfect competition P=$13.13 Q=3385
Q: B. Combining Fiscal Policy and Exchange-Rate On weekdays, you are a staff member of the Council of E...
A: Fiscal policy means the government plays an important role in controlling inflation or recession in ...
Q: a. What evidence is there to indicate that the UK supermarket business is an oligopoly? What further...
A: Since the question you have posted consists of multiple parts, we will answer the first three questi...
Q: Write the expression for consumption per capita in the steady-state equilibrium, as a function of ca...
A: 1. Solow creates a long-run economic growth mathematical model. He assumes that both capital and lab...
Q: explain why the basic framework of supply and demand is not sufficient to analyze the market for hea...
A: Supply and demand is a framework for explaining and predicting a good's equilibrium price and quanti...
Q: Question 8 The price tag on a tennis ball in 1975 read $0.10, and the price tag on a tennis ball in ...
A: The correct answer is given in the second step.
Q: The following graph shows the labour market for steelworkers. Assume that all firms in the steel ind...
A: Demand for labor in steel producing industry depends on price of steel and marginal product.
Q: Give an example of a demand shock and a supply shock and show how it may push output and employment ...
A: In an economy, demand and supply shocks refers to the situation when there is a sudden change in the...
Q: In relation to bargaining power with buyers. Applying it to Tesla, how would you explain the bargai...
A: Bargaining power allows consumers to pressurize the firms to lower the prices of the products. Barga...
Classify each of the following cost items as mostly fixed or variable
1. Raw materials
2. Direct Labor
3. Depreciation
4. Supplies
5. Utilities
6. Property taxes
7. Interest on borrowed money
8. Administrative salaries
9. Payroll taxes
10. Insurance (building and equipment)
11. Clerical salaries
12. Sales Commissions
13. Rent
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- What is the difference between total and marginal product? Total product is the output produced; marginal product is the change in total output with respect to the change in one unit of output. Total product is only related to revenue while marginal product is only related to cost. They are the same; there is no difference. Total product is the change in total output with respect to the change in one unit of output; marginal product is the output produced.Marginal product is: a. the change in total product divided by the change in the quantity of labor. b. total product divided by the quantity of labor. c. always positive. d. unrelated to total product.Dream Line manufacturing has a fixed scale of plant with the levels of total product given in the table below for different levels of labor. Complete the table by calculating the average product and marginal product. Quantity of labor (workers) Total product Average product Marginal product 0 0 1 29 2 54 3 77 4 95
- Q1) From the table below illustrate the data in the table by graph: Table 1. Find ; TP, MPL and APL Labor Total product Marginal product Average product 0 0 1 15 2 30 3 40 4 45 5 50 6 50Complete the following table Labor Marginal Product Quantity Produced Fixed Cost Variable Cost Total Cost Marginal Cost Average Total Cost Average Variable Cost (workers) (units) (units) (dollars) (dollars) (dollars) (dollars) (dollars) (dollars) 1 0 $50 $0 2 10 $50 $20 3 25 $50 $40 4 45 $50 $60 5 60 $50 $80 6 70 $50 $100My candy bar company made 100 million bars last year, sold for $1 each. I also paid 100 people last year, with an average salary of $100K last year. I have overhead cost of $10M. What is my labor productivity (no units, rounded to 2 decimal places)? My candy bar company made 100 million bars last year, sold for $1 each. I also paid 100 people last year, with an average salary of $100K last year. I have overhead cost of $10M. What was my TOTAL productivity (no units, rounded to 2 decimal places)? My snow shovel company forecasts demand that shows strong seasonanilty by quarter. The linear trend can be estimated by the equation y(t) = 1000 + 1000t. My forecasts start with t = 0, which corresponds with Q1 of 2021 (Jan - Mar). t = 1 corresponds to Q2 of 2021 (Apr - Jun) and so on. The seasonal relatives for Q1 = 1.5, Q2 = 0.5, Q3 = 1, Q4 = 2. What is the seasonalized forecast for Q2 of 2022. I have a process that produces ice cream tubs. I need the the ice cream tubs have volume between…
- Labor productivity is the term used forSelect one:a. None of the answers are correctb. Total Productc. All the answers are correctd. Marginal Producte. Average ProductAlexandro, a French national is working as a Manager in an international company in the United States. Alexandro supervises about twenty two product engineers and five technicians in an automobile manufacturing unit. The technicians and engineers report to Alexandro every Tuesday of the week to update of their work and Alexandro finds this very taxing and cumbersome (stressful). In fact, Alexandro proposed to introduce a paper-report system where all the employees he supervises can write and submit paper-based reports. But, the management rejected his idea citing more bureaucracy to which Alexandro told his immediate boss, "This is how we do it in France. It is the right way and perhaps this should be implemented here too." You understand that Alexandro has adopted: A. Stereotyping B. Ethnocentrism C. Cultural pluralism D. None of the aboveFill in the missing values for a, b and c. Units of labour N Total product (TP) Average product (AP) Marginal product (MP) 1 8 2 18 a. Answer 3 b. Answer 8 4 c. Answer 4
- The data in the table below represents Total product (TP), for an agri-business involved in potato production. Capital (fixed factor) Labor (variable factor) Output(units) or Total physical product (TPPL) Average physical product (APPL) Marginal physical product (MPPL) 10 0 0 0 - 10 1 7 7/1 = 7.00 7 10 2 20 20/2 = 10.00 13 10 3 39 39/3 = 13.00 19 10 4 55 55/4 = 13.75 16 10 5 66 66/5 = 13.20 11 10 6 70 70/6 = 11.67 4 10 7 70 70/7 = 10.00 0 10 8 67 67/8 = 8.38 -3 At what point do diminishing marginal returns set in? And using the values of AP and MP obtained from part (i), plot the graphs of TP, AP and MP being careful to fully label the graph and explain briefly the law of diminishing marginal returns from your computation. How does the hypothesis of diminishing returns (MP& AP) influence the behaviour of costs (MC& AC)?With the addition of the fourth unit of output, the marginal product is A 10 and the average product is 42 B 74 and the average product is 10.5 C 10 and the average product is 10.5 D 10.5 and the average product is 10Identify 10 examples of direct factors (labor, capital, technology, resources) used for production and 10 examples of indirect factors (i.e factors other than labor, capital, technology, or resources).