Imagine you have some workers and some handheld computers that you can use to take inventory at a warehouse. There arediminishing returns to taking inventory. If one worker uses one computer, he can inventory 100 items per hour. Two workers sharing acomputer can together inventory 150 items per hour. Three workers sharing a computer can together inventory 200 items per hour.And four or more workers sharing a computer can together inventory fewer than 210 items per hour. Computers cost $100 each andyou must pay each worker $25 per hour.Instructions: In parts a and b, round your answers to two decimal places. In part c, enter your answer as a whole number.a. If you assign one worker per computer, what is the cost of inventorying a single item?b. What is the cost if you assign two workers per computer?$What if you assign three?$c. How many workers per computer should you assign if you wish to minimize the cost of inventorying a single item?workers

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Answered: Imagine you have some workers and some…

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section12.4: Costs In The Short Run And In The Long Run

Problem 4QQ

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Check my work Imagine you have some workers and some handheld computers that you can use to take inventory at a warehouse. There are diminishing returns to taking inventory. If one worker uses one computer, he can inventory 125 items per hour. Two workers sharing a computer can together inventory 175 items per hour. Three workers sharing a computer can together inventory 185 items per hour. And four or more workers sharing a computer can together inventory fewer than 185 items per hour. Computers cost $125 each and you must pay each worker $30 per hour. Instructions: In parts a and b, round your answers to two decimal places. In part c, enter your answer as a whole number. a. If you assign one worker per computer, what is the cost of inventorying a single item? %24 b. What is the cost if you assign two workers per computer? %24 86 What if you assign three? %24 95 c How many workers per computer should you assign if you wish to minimize the cost of inventorying a single item? 3 workers
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2FIM... Homework Chapter 9 i Saved Help Save Imagine you have some workers and some handheld computers that you can use to take inventory at a warehouse. There are diminishing returns to taking inventory. If one worker uses one computer, he can inventory 150 items per hour. Two workers sharing a computer can together inventory 200 items per hour. Three workers sharing a computer can together inventory 220 items per hour. And four or more workers sharing a computer can together inventory fewer than 235 items per hour. Computers cost $100 each and you must pay each worker $25 per hour. 10 points Instructions: Round your answers to 2 decimal places. eBook a. If you assign one worker per computer, what is the cost of inventorying a single item? Print References b. What if you assign two workers per computer? What is the cost of inventorying a single item? c. What if you assign three workers per computer? Mc Graw Hill ....R.. .... .... .. 71°F Sunny 2 Type here to search DELL
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In 1 hour, john can make 4 sandwiches or 9 salads. Jane works with John and in one hour she can make 7 sandwiches or 10 salads. Knowing the each work 8 hours per day, if they both allocate 4 hours to each activity, then in total how many salads can be made?
Suppose that Maria is starting a food ordering and delivery company. Customers order meals online. Employees prepare the meals and deliver them to customers. Maintenance of the online platform for ordering meals costs the company $5/day. The company also rents spave where orders are prepared. Rent costs $50/day. To make the deliveries, the business also rents two delivery cars the cost $10/day. The costs of ingredients for preparing different numbers of meals are $50. Maria also has to hire between 0-10 workers to buy ingredients, prepare meals, and deliver the orders. She pays them $120/day. The first two columns of the table below shows how many meals different number of workers can prepare and deliver. Suppose Maria charges $50/order and delivery. What is the max profit she could earn? How many meals does the business have to deliver to earn the highest possible profit? What is the shut-down price of the business? What is the break-even price? Suppose that the price of rent…
Suppose that Maria is starting a food ordering and delivery company. Customers order meals online. Employees prepare the meals and deliver them to customers. Maintenance of the online platform for ordering meals costs the company $5/day. The company also rents spave where orders are prepared. Rent costs $50/day. To make the deliveries, the business also rents two delivery cars the cost $10/day. The costs of ingredients for preparing different numbers of meals are $50. Maria also has to hire between 0-10 workers to buy ingredients, prepare meals, and deliver the orders. She pays them $120/day. The first two columns of the table below shows how many meals different number of workers can prepare and deliver. Suppose that a minimum wage is introduced. To comply the new law, Maria has to start paying the workers $140/day. How many meals does the business have to deliver to earn the highest possible profit? Answer by filling out the table. Suppose that the price/meal Maria charges…
Suppose that Maria is starting a food ordering and delivery company. Customers order meals online. Employees prepare the meals and deliver them to customers. Maintenance of the online platform for ordering meals costs the company $5/day. The company also rents spave where orders are prepared. Rent costs $50/day. To make the deliveries, the business also rents two delivery cars the cost $10/day. The costs of ingredients for preparing different numbers of meals are $50. Maria also has to hire between 0-10 workers to buy ingredients, prepare meals, and deliver the orders. She pays them $120/day. The first two columns of the table below shows how many meals different number of workers can prepare and deliver. Suppose that the price of rent increases to $60/day. How many meals does the business have to deliver to earn the highest possible profit? Fill out the table as your answer.
In recent years, the United States has experienced large increases in oil production due in large part to a new technology, hydraulic fracturing ("fracking"). Fracking involves injecting a mixture of water, sand, and chemicals into rock formations at high pressure to release oil and natural gas. An article in the Wall Street Journal indicates that economies of scale in fracking may be considerably smaller than in conventional oil drilling. If this view is cor- rect, what would the likely consequences be for the num- ber of firms drilling for oil in the United States?
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Janica and Jency live in the beach town of Santa Monica. They own a small business in which they make wristbands and pot holders and sell them to people on the beach. As shown in the table on the following page, Janica can make 15 wristbands per hour but only 3 pot holders. Jency is a bit slower and can make only 12 wristbands or 2 pot holders in an hour. Wristband (output per hr) Pot Holders (output per hr) Janica 15 3 Jency 12 2 If Janica devoted half of her time (10 out of 20 hours) to wristbands and half of her time to pot holders, how many of each would she produce in a week? If Jency did the same, how many of each would she produce? How many wristbands and pot holders would be produced in total? Please answer with explanation.
We have the results from our first Facebook ad campaign. The following table summarizes the results broken down by age and whether the person seeing the add clicked through. Age 40 or under 85 Age more than 40 65 Total Clicked Through 150 Did Not Click 590 260 850 Total 675 325 1000 For our up(combing) (pun intended) campaign, I want to make it as effective as possible, a cut above all other ad campaigns! I'm thinking that since 85 (or 56.7%) of the 150 people who clicked through to our website are age 40 or less, we should focus our ads to only younger people. I'm not great with number though, and since I know you had a stats class in college, I wanted to get your opinion. Should we focus our adds only to those age 40 and under or should we do something else?

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