Question 4 The following table shows the hourly wages, hours worked, and output (number of widgets produced) in one week for five widget makers. Worker 1 2 3 5 5 5.50 6.50 6 6.25 Hourly wage ($) Hours worked Output (widgets) 40 43 37 50 45 1000 1100 1000 1200 1100 Use MATLAB to answer these questions: a. How much did each worker earn in the week? b. What is the total salary amount paid out? c. How many widgets were made? d. What is the average cost to produce one widget? e. How many hours does it take to produce one widget on average? 4
Question 4 The following table shows the hourly wages, hours worked, and output (number of widgets produced) in one week for five widget makers. Worker 1 2 3 5 5 5.50 6.50 6 6.25 Hourly wage ($) Hours worked Output (widgets) 40 43 37 50 45 1000 1100 1000 1200 1100 Use MATLAB to answer these questions: a. How much did each worker earn in the week? b. What is the total salary amount paid out? c. How many widgets were made? d. What is the average cost to produce one widget? e. How many hours does it take to produce one widget on average? 4
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 25P: If the price of a pie is 12, what is the maximum number of pies she could buy in a week?
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