A firm produces children's bicycles in the short run using two inputs, capital and labor. The quantity of capital is fixed and generates a monthly cost of $6,000. The quantity of labor can be varied, and the wage rate per hour of labor is $20. If 400 hours of labor are hired for the month, and 140 bicycles units of output are produced, what is the firm's average total cost for the month
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A firm produces children's bicycles in the short run using two inputs, capital and labor. The quantity of capital is fixed and generates a ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The following credit sales are budgeted by Terra Co.: January $204,000 February 300,000 March 420,000 April 360,000The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month
Answers (1)
what does it mean when something has an extrinsic value? What is an example of an item having extrinsic value?
Answers (1)
Presentment warranties protect the person who presents an instrument for payment.
Answers (1)
Production automation would most likely be highest in an organization with a focus? Differentiation Specialization Integration Cost
Answers (1)
Why is project management considered an excellent training ground for future senior executives in many organizations?
Answers (1)
New Questions in Business
A home improvement firm has quoted a price of? $9,800 to fix up? eric's backyard. five years? ago, eric put? $7,500 into a home improvement account that has earned an average of? 5.25% per year.
Answers (1)
A budget surplus a. exists when government spending is greater than tax revenues. b. causes government debt to increase. c. occurs when the government has debt equal to zero. d. reduces the government's debt.
Answers (1)
Monique was looking for a venue for her wedding reception. When she visited one potential location, she noticed that the landscaping was not complete, and there was stained carpet in the lobby.
Answers (1)
A monthly fixed rate mortgage payment--- A. could change. B. never changes. C. increases annually. D. decreases annually.
Answers (1)
On December 31, Carmack Company received a $215 utility bill for December that it will not pay until January 15. The adjusting entry needed on December 31 to accrue this expense is: 1. Debit Utilities Expense $215; credit Accounts Payable $215. 2.
Answers (1)