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
It has come to your attention that several different departments in your organizations are using workgroup information systems.
Answers (1)
The time you spend learning and practicing ___can save your life and the lives of others? A. Tricks of the trade B. Shortcuts C. Safety procedures D. Basic construction skills
Answers (1)
The part of the disposable income that is not consumed by households is:
Answers (1)
It costs a firm that sells blueberry jam $6 to sell a single jar of jam. This firm makes $10 in revenue from each jar of jam it sells. If this firm sells 10 jars of jam, what is its total profit?
Answers (1)
January 1 of this year, a Company completed the following transactions (assume a 9% annual interest rate): Bought a delivery truck and agreed to pay $60,400 at the end of three years.
Answers (1)
New Questions in Business
Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $110,500, and it estimates that 6% will be uncollectible. Required: 1.
Answers (1)
Which skills are most required for someone in Design? A) knowledge of building processes, knowledge of specialized tools, and knowledge of building laws B) drawing skills, creativity for new ideas, and ability to model large-scale building projects
Answers (1)
Stock X has a standard deviation of 22 percent per year and stock Y has a standard deviation of 8 percent per year. The correlation between stock A and stock B is. 21.
Answers (1)
You are evaluating two different silicon wafer milling machines. The Techron I costs $276,000, has a three-year life, and has pretax operating costs of $75,000 per year.
Answers (1)
David is certified by his doctor as terminally ill with liver disease. His doctor certifies that he cannot reasonably be expected to live for more than a year. He sells his life insurance policy to Viatical Settlements, Inc., for $250,000.
Answers (2)