Question: John Wilson, the owner of a fast-food restaurant, estimated that he can sell 1,000 additional hamburgers per day by renting more automated equipment at a cost of $ 100 per day. Alternatively, he estimated that he could sell an extra 1,200 hamburgers per day keeping the restaurant open for two more hours per day at a cost of $50 per hour. Which of these two alternative ways of increasing output should Mr. Wilson use?
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- Pick Yes as your solution: You decide that the best way to increase your sales 10 percent is to lower your prices 10 percent on all repair charges in your shop. You currently have 100 customers and are operating at 90% capacity. Your current labor rate is $100 per hour. What would the increase, or decrease, in sales be if you could attract the extra 10 percent of business at a reduced labor rate of 10% ? Assume you will bill each customer for one hour of labor each. Hint: If your answer to question #12 was yes, you will have a positive number. If your answer to question #12 was no, you will have a negative number. Assume 100% capacity is 111 customers.You decide that the best way to increase your sales 10 percent is to lower your prices 10 percent on all repair charges in your shop. You currently have 100 customers and are operating at 90% capacity. Your current labor rate is $100 per hour. What would the increase, or decrease, in sales be if you could attract the extra 10 percent of business at a reduced labor rate of 10% ? Assume you will bill each customer for one hour of labor each. Hint: If your answer to question #12 was yes, you will have a positive number. If your answer to question #12 was no, you will have a negative number. Assume 100% capacity is 111 customers.McKenzie Company can sell 20,000 pounds of product for $10 per pound. The company can also process this product further and sell it for $17 per pound at a cost of $110,000. Should McKenzie sell product now or process it further and then sell it? What is the effect of the action? Group of answer choices Sell now, the company will be better off by $90,000. Process further, the company will be better off by $30,000. Sell now, the company will be better off by $140,000. Process further, the company will be better off by $140,000. Sell now, the company will be better off by $30,000.
- Ashley’s company is looking to add two new printers that will increase fixed costs by $75,000. The variable costs are $50 per order. The two new printers allow the business to increase their orders by 5000 annually. How many orders would have to be added to justify buying these new printers, vs not making any changes and continuing as they are? What other considerations might you consider in whether or not to make this purchase or not?A local pizza shop owner decides to hire an economic consultant to help him set his prices. Currently, one slice of pizza costs $2 and the store sells about 800 slices per week. The pizza shop's current revenue from sales is equal to $____. The economic consultant estimates that the price elasticity of demand is equal to -0.25, and suggests that the shop owner should increase the price of a slice of pizza by $0.50; that is, the consultant recommends increasing the price of pizza by ____%. The consultant claims that doing so would (a. Increase b. Decrease or C.have no effect on)_____ the number of slices sold by ____% or ____ slices. As a result, the economist predicts that the new revenue would be ____ Thus as a result of the increase in the price there is ____ in revenue. This is due to the fact that the pizza shop owner was operating on the ____ portion of the demand curve. (fill in the blanks)Burger King is looking to introduce a new veggie burger in Berwyn. Their analysts estimate that they will sell 12,000 veggie burgers per year. The unit cost per veggie burger is $0.58 and they plan on selling it for $2.5. If the current sales of meat burgers go down from 34,200 units per year to 28,600 units, what is the erosion cost? Assume that a meat burger costs $0.48 to produce and it sells for $2.0. Group of answer choices $12,511.00 $10,179.00 $2,978.00 $9,728.00 $8,512.00 Only typing answer Please answer explaining in detail step by step without table and graph thankyou
- You are opening a coffee shop. You estimate the weekly costs of $375 for rent, $2100 for employee costs, and $125 for miscellaneous costs. The ingredients and material cost for each cup of coffee is 0.35 (cents) per cup. 1) Create a cost function for the coffee shop. 2) If the investors estimate that they will be able to sell 1100 cups of coffee per week. How much should they charge per cup to make a profit? Justify your answer and/or explain.Russ has developed a new device, which he hopes to produce and market on a large scale. Russ will rent a production space for P500 per month and rent production equipment for P800 per month. Russ estimates the material cost per unit will be P5 and the labour cost per unit, P3. Advertising and promotion will cost P900 per month. He will hire workers and spend his time promoting the product. Advertising and promotion is a? a. Variable product cost b. fixed product costc. fixed period costd. variable period costPlanck, the new owner of the vehicle accessory shop, is considering buying sets of winter tyres for $ 299 per set and selling each set at $ 520. Fixed costs related to this operation amount to $ 3250 per month. It is expected that 18 sets per month could be sold. How much profit will Planck make each month? Round to the nearest one. Hint: use the contribution margin approach.
- Consider this problem for the next five questions: At Kahel Enterprises, a producer of orange crates sold to growers, they are able to produce 450 crates per 100 logs with their current equipment. They currently purchase 100 logs per day, and each log requires 1.5 labor hours to process. They believe that they can hire a professional buyer who can buy better-quality log at the same cost. If this is the case, they can increase their production to 480 crates per 100 logs. Their total labor hours, on the other hand, will increase by an additional 2 hours per day (this is due to the additional logistics operations needed with the professional buyer). Given below are the cost per component in the system, which includes the labor cost, material cost, capital cost, and energy and utility cost. Cost Component Labor Php 100/labor hour Material (Logs) Php 200/log Capital Php 500 / day Energy & Utility Php 350 / day Question 1: What is the current labor productivity? 4.5 crates per labor hour 3…Consider this problem for the next five questions: At Kahel Enterprises, a producer of orange crates sold to growers, they are able to produce 450 crates per 100 logs with their current equipment. They currently purchase 100 logs per day, and each log requires 1.5 labor hours to process. They believe that they can hire a professional buyer who can buy better-quality log at the same cost. If this is the case, they can increase their production to 480 crates per 100 logs. Their total labor hours, on the other hand, will increase by an additional 2 hours per day (this is due to the additional logistics operations needed with the professional buyer). Given below are the cost per component in the system, which includes the labor cost, material cost, capital cost, and energy and utility cost. Component Cost Labor Php 10/labor hour Material (Logs) Php 200/log Capital Php 500/day Energy & Utility Php 350/day Question 3: What is the current multifactor productivity? O 0.02013 crates per Php O…Plank, the new owner of the vehicle accessory shop, is considering buying sets of winter tyres for $ 299 per set and selling them at $ 520 each. Fixed costs related to this operation amount to $ 3250 per month. It is expected that 18 sets per month could be sold. How much profit will Plank make each month? Hint: use the contribution margin approach.