ECONOMICS W/CONNECT+20 >C<
20th Edition
ISBN: 9781259714993
Author: McConnell
Publisher: MCG CUSTOM
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Chapter 9, Problem 2P
To determine
Level of output.
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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 100 items per hour. Two workers sharing a
computer 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 and
you 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
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?
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.
Chapter 9 Solutions
ECONOMICS W/CONNECT+20 >C<
Ch. 9.2 - Prob. 1QQCh. 9.2 - Prob. 2QQCh. 9.2 - Prob. 3QQCh. 9.2 - Prob. 4QQCh. 9.5 - Prob. 1QQCh. 9.5 - Prob. 2QQCh. 9.5 - Prob. 3QQCh. 9.5 - Prob. 4QQCh. 9.8 - Prob. 1QQCh. 9.8 - Prob. 2QQ
Ch. 9.8 - Prob. 3QQCh. 9.8 - Prob. 4QQCh. 9 - Prob. 1DQCh. 9 - Prob. 2DQCh. 9 - Prob. 3DQCh. 9 - Prob. 4DQCh. 9 - Prob. 5DQCh. 9 - Prob. 6DQCh. 9 - Prob. 7DQCh. 9 - Prob. 8DQCh. 9 - Prob. 1RQCh. 9 - Which of the following are short-run and which are...Ch. 9 - Prob. 3RQCh. 9 - Prob. 4RQCh. 9 - Prob. 5RQCh. 9 - Prob. 6RQCh. 9 - Prob. 1PCh. 9 - Prob. 2PCh. 9 - Prob. 3PCh. 9 - Prob. 4P
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