Food Goblin Supermarkets use both cashiers and baggers to serve customers at check out. During the first 6 hours of each workday (Monday-Friday), 4 cashiers and 2 baggers serve approximately 20 customers per hour. A cashier and a bagger who require approximately 5 minutes at checkout and 5 minutes at bagging serve each customer. a. Calculate the utilization of both cashiers and baggers. b. Assume that both baggers and cashiers are cross-trained to perform both activities so that they can serve customers independently. Customers are now both checked and their groceries bagged by one individual. Further, assume that it takes 12 minutes for one individual to both cash out and bag each customer's groceries.

Food Goblin Supermarkets use both cashiers and baggers to serve customers at check out. During the first 6 hours of each workday (Monday-Friday), 4 cashiers and 2 baggers serve approximately 20 customers per hour. A cashier and a bagger who require approximately 5 minutes at checkout and 5 minutes at bagging serve each customer. a. Calculate the utilization of both cashiers and baggers. b. Assume that both baggers and cashiers are cross-trained to perform both activities so that they can serve customers independently. Customers are now both checked and their groceries bagged by one individual. Further, assume that it takes 12 minutes for one individual to both cash out and bag each customer's groceries.

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

Dave's Donuts sold 1,000 donuts. Total revenue was $400, and the cost of producing the 1,000 donuts was $300. What is the profit for Dave's Donuts? $1,000 $500 $100 $400
Total revenue, total cost, and profit. Oscar runs a lemonade stand. He sells each cup of lemonade for $2.50. The variable cost per cup, including lemons, sugar, and cups, is 50.75. Additionally, Oscar has fixed costs of $20 for his stand and equipment. In a day, Oscar sells 50 cups of lemonade. Calculate Oscar's total revenue, total cost, and profit for the day. Provide your rationa
a. what is the optimal quantity of goods for the firm to produce b. what is the optimal price for the quantity of goods for the firm to produce c. what is the total revenue for the firm d. what is the total cost for the firm e. what is profit/loss for the firm
Suppose that the market for dress shirts is a perfectly competitive market. The following graph shows the daily cost curves of a firm operating in this market. (?) 50 45 Profit or Loss 40 35 30 АТС 25 20 15 10 AVC MC 4 8 12 16 20 24 28 32 36 40 QUANTITY OF OUTPUT (Shirts) PRICE AND COST (Dollars per shirt)
a.What does shirking (goofing off) mean for firms and why is it a problem? b. What is the most effective method of reducing or eliminating shirking and why?
Vintage Camera T Temple MIS G is You have the following data for product X: sales revenue $14,000, allocated fixed costs $12,000, variable costs $20,000. You cannot increase the price of product X or improve the production process to increase profitability. What should you do about product X? O do nothing - unprofitable products are just one of the costs of doing business O keep the product both in the short term and in the long term O keep the product in the short term and drop it in the long term O drop the product both in the short term and in the long term O drop the product in the short term and keep it in the long term
10. The following is a total cost curve. Sketch the corresponding marginal cost curve. If the price of output is $3 and there are no fixed costs, what is the profit-maximizing level of output?
3. Johnny Rockabilly has just finished recording his latest CD. His record company's marketing department determines that the demand for the CD is as follows: Price Number of CDs $24 10 000 22 20 000 20 20 30 000 18 40 000 16 50 000 14 60 000 The company can produce the CD with no fixed cost and a variable cost of $5 per CD. a. Find total revenue for quantity equal to 10 000, 20 000, and so on. What is the marginal revenue for each 10 000 increase in the quantity sold? b. What quantity of CDs would maximize profit? What would be the price? What would be the profit? c. If you were Johnny's agent, what recording fee would you advise Johnny to demand from the record company? Why?
1. The market for manicures and other nail treatments is very competitive. How would the following developments affect the number of nail treatments that a typical nail salon wants to supply in the short run? a. Heightened concern about their appearance causes people to want more manicures at a given price. b. The government requires all nail salons to pay a new yearly licensing fee to operate. c. Worse job prospects elsewhere in the economy cause more people to want to become manicurists, causing the wages of manicurists to fall.
Give typing answer with explanation and conclusion 1.Sara knits 20 scarves and sells them for $25 each. What is her total revenue? $50 $250 $45 $500
4. Profit maximization in the cost-curve diagram Suppose that the market for candles is a competitive market. The following graph shows the daily cost curves of a firm operating in this market. (Note: Area in blue rectangle is shown in thousands.) 32 28 V 24 ATC AVC MC PRICE (Dollars per candle) 40 36 8 4 0 0 + 2 4 8 6 10 QUANTITY (Thousands of candles) 12 14 16 18. 20 6,000 In the short run, at a market price of $20 per candle, this firm will choose to produce candles per day. 8,000 Profit or Loss (in thousands) ? On the previous graph, 9,000 the blue rectangle (circle symbols) to shade the area (in the 12000 ands) representing the firm's profit or loss if the market price is $20 and the firm chooses to produce the quantity you already selected. Note: In the following question, you should enter a positive number in the numeric entry field. [$ The area (in thousands) of this rectangle indicates that the firm's would be per day.
What's the role of over- the-counter (OTC) market, does OTC market have middle man, if it has middle man what's the role of middle man in OTC market, please deeply explain, thank you.