You manage Gofer Delivery Service. You rent a truck for $10 per day, and each delivery takes an hour of labor time. The hourly wage is $5. Part 2 a. Use the line drawing tool to draw a line showing the relationship between the number of deliveries (on the horizontal axis) and your total cost (on the vertical axis).Draw the line between zero and 20 deliveries. Label this line 'Cost'. Part 3 Carefully follow the instructions above, and only draw the required objects. Part 4 b. The slope of the cost curve is $______ per delivery. Part 5 c. To draw the curve, what variable is held fixed? a-Truck rental rate b-Number of deliveries c-Total costs Part 6 d. A change in the a-truck rental rate b-wage rate c-number of deliveries would cause a movement upward along the curve. Part 7 e. Changes in the a-truck rental rate b-wage rate c-number of deliveries would cause the entire curve to shift upward need all answer.
You manage Gofer Delivery Service. You rent a truck for $10 per day, and each delivery takes an hour of labor time. The hourly wage is $5. Part 2 a. Use the line drawing tool to draw a line showing the relationship between the number of deliveries (on the horizontal axis) and your total cost (on the vertical axis).Draw the line between zero and 20 deliveries. Label this line 'Cost'. Part 3 Carefully follow the instructions above, and only draw the required objects. Part 4 b. The slope of the cost curve is $______ per delivery. Part 5 c. To draw the curve, what variable is held fixed? a-Truck rental rate b-Number of deliveries c-Total costs Part 6 d. A change in the a-truck rental rate b-wage rate c-number of deliveries would cause a movement upward along the curve. Part 7 e. Changes in the a-truck rental rate b-wage rate c-number of deliveries would cause the entire curve to shift upward need all answer.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
You manage Gofer Delivery Service. You rent a truck for $10 per day, and each delivery takes an hour of labor time. The hourly wage is $5.
Part 2
a. Use the line drawing tool to draw a line showing the relationship between the number of deliveries (on the horizontal axis) and your total cost (on the vertical axis).Draw the line between zero and 20 deliveries. Label this line 'Cost'.
Part 3
Carefully follow the instructions above, and only draw the required
objects.
Part 4
b. The slope of the cost curve is
$______ per delivery.
Part 5
c. To draw the curve, what variable is held fixed?
a-Truck rental rate
b-Number of deliveries
c-Total costs
Part 6
d. A change in the
a-truck rental rate
b-wage rate
c-number of deliveries
would cause a movement upward along the curve.
Part 7
e. Changes in the
a-truck rental rate
b-wage rate
c-number of deliveries
would cause the entire curve to shift upward
need all answer.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON
Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON