Homework Answers
The value of the marginal product of labor = Price*marginal product of the labor
Price = 11
MPL = 150
VMPL = 11*150 = 1650
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Question 7 Homework. Unanswered Suppose the going price of pizza is $11 per pie, the cost...
Suppose the going price of pizza is $11 per pie, the cost of the ingredients used...
Suppose the going price of pizza is $11 per pie, the cost of the ingredients used to produce pizza is $7, and marginal product of labor is 150 pizzas. What is the value of the marginal product of labor ($)?
Suppose the going price of pizza is $11 per pie, the cost of the ingredients used...
Suppose the going price of pizza is $11 per pie, the cost of the ingredients used to produce pizza is $7, and marginal product of labor is 150 pizzas. What is the value of the marginal product of labor (S)?
Benvenuto is a pizzeria operating in a competitive market. Its short-run production function is shown below....
Benvenuto is a pizzeria operating in a competitive market. Its short-run production function is shown below. Benvenuto's weekly cost of labor is $450 per worker, and its cost of the ingredients used to make pizza is $6 per pie. The going market price of pizza is $9 per pie. Total product (weekly workers)(pizzas per week) Labor 52 1 172 2 33 341 4 536 5 738 6 924 7 1,075 8 1,168 9 1,184 Question 9 Homework Unanswered . In...
Benvenuto is a pizzeria operating in a competitive market. Its short-run production function is shown below....
Benvenuto is a pizzeria operating in a competitive market. Its short-run production function is shown below. Benvenuto's weekly cost of laboris $450 per worker, its plant costs $700 per week, and the ingredients used to make pizza cost $6 per pie. Labor Total product (weekly workers) (pizzas per week) 52 172 1 3 341 536 738 924 1,075 1,168 1,184 8 Question 1 Homework. Unanswered In the scenario above, if Benvenuto produces 1,168 pizzas, what is its total fixed cost...
Benvenuto is a pizzeria operating in a competitive market. Its short-run production function is shown below....
Benvenuto is a pizzeria operating in a competitive market. Its short-run production function is shown below. Benvenuto's weekly cost of laboris $450 per worker, its plant costs $700 per week, and the ingredients used to make pizza cost $6 per pie. Labor Total product (weekly workers) (pizzas per week) 52 2 172 3 341 4 536 5 738 924 1,075 8 1,168 9 1,184 Question 6 Homework . Unanswered In the scenario above, suppose Benvenuto currently produces 438 pizzas per...
Benvenuto is a pizzeria operating in a competitive market. Its short-run production function is shown below....
Benvenuto is a pizzeria operating in a competitive market. Its short-run production function is shown below. Benvenuto's weekly cost of labor is $450 per worker, and its cost of the ingredients used to make pizza is $6 per pie. The going market price of pizza is $9 per pie. Labor Total product (weekly workers) (pizzas per week) 52 OWN 172 341 536 738 924 1,075 1,168 1,184 In the scenario above, when Benvenuto hires a third worker, what is the...
Bongiorno’s is a pizzeria operating in a competitive market. Its short-run production function is shown below....
Bongiorno’s is a pizzeria operating in a competitive market. Its
short-run production function is shown below. Bongiorno’s weekly
cost of capital (plant) is $750, its cost of labor is $320 per
worker, and its cost of the pizza ingredients is $6 per pie. The
going market price of pizza is $13 per pie.
A) In the scenario above, when Bongiorno’s hires a fourth
worker, what is the marginal product of labor?
B) In the scenario above, if Bongiorno’s hires a...
Carla's Pizza, a small pizzeria operating in a competitive market. Its short-run production function for the current pl...
Carla's Pizza, a small pizzeria operating in a competitive market. Its short-run production function for the current plant is shown below. Carla's plant costs her $500 per week, her weekly labor cost is $400 per worker, and the cost of ingredients is $7 per pizza. Carla is considering expanding her plant. The average total costs for the larger plant are shown below. Current plant Labor Total product (workers) (pizzas) 116 290 16 497 co vou AWNE Expanded plant Output ATC...
Suppose a pizza parlor has the following production costs: $3.00 in labor per pizza, $1.00 in...
Suppose a pizza parlor has the following production costs: $3.00 in labor per pizza, $1.00 in ingredients per pizza, $0.40 in electricity per pizza, $1,500 in restaurant rent per month, and $450 in insurance per month. Assume the pizza parlor produces 2,000 pizzas per month. What is the variable cost of production (per month)?
Suppose a pizza parlor has the following production costs: $4.00 in labor per pizza, $2.00 in...
Suppose a pizza parlor has the following production costs: $4.00 in labor per pizza, $2.00 in ingredients per pizza, s0.70 in electricity per pizza, $2,500 in restauran rent per month, and $450 in insurance per month. Assume the pizza parlor produces 2,000 pizzas per month What is the variable cost of production (per month)? The variable cost of production is Enter your response as an integer.)
Suppose the going price of pizza is $11 per pie, the cost of the ingredients used to produce pizza is $7, and marginal product of labor is 150 pizzas. What is the value of the marginal product of labor ($)?
Suppose the going price of pizza is $11 per pie, the cost of the ingredients used to produce pizza is $7, and marginal product of labor is 150 pizzas. What is the value of the marginal product of labor (S)?
Benvenuto is a pizzeria operating in a competitive market. Its short-run production function is shown below. Benvenuto's weekly cost of labor is $450 per worker, and its cost of the ingredients used to make pizza is $6 per pie. The going market price of pizza is $9 per pie. Total product (weekly workers)(pizzas per week) Labor 52 1 172 2 33 341 4 536 5 738 6 924 7 1,075 8 1,168 9 1,184 Question 9 Homework Unanswered . In...
Benvenuto is a pizzeria operating in a competitive market. Its short-run production function is shown below. Benvenuto's weekly cost of laboris $450 per worker, its plant costs $700 per week, and the ingredients used to make pizza cost $6 per pie. Labor Total product (weekly workers) (pizzas per week) 52 172 1 3 341 536 738 924 1,075 1,168 1,184 8 Question 1 Homework. Unanswered In the scenario above, if Benvenuto produces 1,168 pizzas, what is its total fixed cost...
Benvenuto is a pizzeria operating in a competitive market. Its short-run production function is shown below. Benvenuto's weekly cost of laboris $450 per worker, its plant costs $700 per week, and the ingredients used to make pizza cost $6 per pie. Labor Total product (weekly workers) (pizzas per week) 52 2 172 3 341 4 536 5 738 924 1,075 8 1,168 9 1,184 Question 6 Homework . Unanswered In the scenario above, suppose Benvenuto currently produces 438 pizzas per...
Benvenuto is a pizzeria operating in a competitive market. Its short-run production function is shown below. Benvenuto's weekly cost of labor is $450 per worker, and its cost of the ingredients used to make pizza is $6 per pie. The going market price of pizza is $9 per pie. Labor Total product (weekly workers) (pizzas per week) 52 OWN 172 341 536 738 924 1,075 1,168 1,184 In the scenario above, when Benvenuto hires a third worker, what is the...
Bongiorno’s is a pizzeria operating in a competitive market. Its
short-run production function is shown below. Bongiorno’s weekly
cost of capital (plant) is $750, its cost of labor is $320 per
worker, and its cost of the pizza ingredients is $6 per pie. The
going market price of pizza is $13 per pie.
A) In the scenario above, when Bongiorno’s hires a fourth
worker, what is the marginal product of labor?
B) In the scenario above, if Bongiorno’s hires a...
Carla's Pizza, a small pizzeria operating in a competitive market. Its short-run production function for the current plant is shown below. Carla's plant costs her $500 per week, her weekly labor cost is $400 per worker, and the cost of ingredients is $7 per pizza. Carla is considering expanding her plant. The average total costs for the larger plant are shown below. Current plant Labor Total product (workers) (pizzas) 116 290 16 497 co vou AWNE Expanded plant Output ATC...
Suppose a pizza parlor has the following production costs: $4.00 in labor per pizza, $2.00 in ingredients per pizza, s0.70 in electricity per pizza, $2,500 in restauran rent per month, and $450 in insurance per month. Assume the pizza parlor produces 2,000 pizzas per month What is the variable cost of production (per month)? The variable cost of production is Enter your response as an integer.)
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