Role of Engineers in Business a. Analyze, Evaluate, and valuate. O b. Design, Analyze, Evaluate only O c. Calcualte, Analyze, Evaluate, and Monitor d. Creat and Design, Analyze, Evaluate, and Monitor
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![Role of Engineers in Business
a. Analyze, Evaluate, and valuate.
O b. Design, Analyze, Evaluate only
O c. Calcualte, Analyze, Evaluate, and Monitor
O d. Creat and Design, Analyze, Evaluate, and Monitor](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2ac6ea17-2c11-4ff3-85b0-6bb05dfb023b%2F31ce2585-6519-4832-91ab-45aed0b5e025%2F9x8fhzn_processed.jpeg&w=3840&q=75)
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- A small company that shovels sidewalks and driveways has 100 homes signed up for its services this winter. It can use various combinations of capital and labor: intensive labor with hand shovels, less labor with snow blowers, and still less labor with a pickup truck that has a snowplow on front. To summarize, the method Choices are: Method 1: 50 units of labor, 10 units of capital Method 2: 20 units of labor, 40 units of capital Method 3: 10 units of labor, 70 units of capital If hiring labor for the winter costs $100/unit and a unit of capital costs 400, what is the best production method? What method should the company use if the cost of labor rises to $20/unit?What is die difference between accounting and economic profit?4 Long Run Production Capital labor Units Qty $3,000 5 32 outputs % inputs % change - change returns to Scale - $5,000 10 40 100 25 increasing $7,500 12 90 20 125 decreasing $8,000 13 110 8.33 22.22 decreasing $9,000 15 125 15.38 13.636 increasing $11,000 16 130 6.66 4 increasing $11,700 18 320 132 12.5 1.54 increasing 300 280 260 240 220 200 edited 180 160 140 120 100 80 60 For my long run production I wanted to see the different out comes if I my and capital variable After doing so! was able to calculate my output & input % change using the formula (original-new) original Х labor cost per duvet cover 40 20 10 20 30 40 50 60 70 80 90 100 120 130 140 150 160 qty of duvet covers (per month 100
- ii jii OMESIN m e id Question 2 1. State the three stages of production? For the toolbar, press ALT F10 (PC) or ALT FN+F10 (Mac) BIU Paragraph Arial 10pt x' X, T Te 田田用图 3H HE HJosh and Alex work as design engineers creating high-end lighting fixtures. After one particularly enlightened afternoon, they decide to follow their dreams and open a cupcake bakery. Please sort their various costs, listed below, into the correct category. Implicit Costs Not a Cost Explicit Costs ! Q A N Ⓒ2 Advertising space taken out on a social networking website The money they pay their neighbor's six year old son to deliver cupcakes to their customers. W S 12 #3 16 80 F3 E D X C $ 4 888 F4 R his previous job designing The salary Alex earned in lighting fixtures. LL 25 % U The garage space used for baking that can no longer be rented out to a college student FS T Da A 6 V B Y Supplies like sugar, butter and baking trays G H Ⓒ Previous Check Answer Next Exit 87 & 44 N 17 U J * 8 ∞ 3 14 9 K → 19 O 1 AA F10 PWhich of the following are relevant costs when a firm attempts to decide on the best course of action_ A Sunk costs. All of the answers are relevant. B Historical costs. Opportunity costs or the cost of replacing one factor of production by another. C. D. ?
- Done Save & Exit C Su Check my wPlease explain on how I can calculate the missing numbersIsit possible for accounting profit to be positive and economic profit to be negative? OA Na, economic profit and accounting profit will always end up being the same. OB. No, economic profit must always be larger than accounting profit. OC Yes, this could ocour if axplicit costs were modest and implict costs were high. OD. Yos, this could occur if impiot costs were modest and explict costs were high.
- Engineering economyA computer company produces affordable, easyto-use home computer systems and has fixed costs of$250. The marginal cost of producing computers is $700for the first computer, $250 for the second, $300 for thethird, $350 for the fourth, $400 for the fifth, $450 for thesixth, and $500 for the seventh.a. Create a table that shows the company’s output,total cost, marginal cost, average cost, variablecost, and average variable cost.b. At what price is the zero-profit point? At whatprice is the shutdown point?c. If the company sells the computers for $500, is itmaking a profit or a loss? How big is the profitor loss? Sketch a graph with AC, MC, and AVCcurves to illustrate your answer and show theprofit or loss.d. If the firm sells the computers for $300, is itmaking a profit or a loss? How big is the profitor loss? Sketch a graph with AC, MC, and AVCcurves to illustrate your answer and show theprofit or loss.Isit possible for accounting profit to be positive and economic profit to be negative? OA No, econamic profit and accounting profit will always end up being the same. OB. No, economic profit must always be larger than accounting profit OC Yes, this could occur if explict costs were modest and implicit costs wern high. OD. Yos, this could occur if impliat costs were modest and explict costs wern high.
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