Help me out here also post your reference plsss - 39880

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dacostalisa

dacostalisa

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  • Due on: Fri 27 Dec, 2013 (11:51pm)
  • Asked on: Fri 27 Dec, 2013
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3. Determine whether each of the following is an explicit cost or an implicit cost:

 

 a) Payments for rented manufacturing equipment

 

 b) A firm’s use of a warehouse that it owns and could rent to another firm

 c) Wages paid to the firm’s workers

 d) The wages the firm’s owner could earn if he worked for another company

 

4.  Consider the following information in the table for Pat’s Pizza Restaurant and answer the questions below.

Marginal Product of Capital

4,000

Marginal Produce of Labor

100

Wage Rate

$10

Rental Price of Pizza Ovens

$500

 1. Is the owner of Pat’s Pizza Restaurant minimizing cost?

 

 2. Should he rent more ovens and hire fewer workers or rent fewer ovens and hire more workers?  Explain.

 

 

**show how to solve question 1

3 Solution for Help me out here also post your reference plsss
Title Price Category solution By purchased  
ECONOMICS - COSTS
$5.00 no category bmusembi 0 time(s)
Answer to your questions.
$3.00 no category Tutor_Eddy 2 time(s)
Correct answer (All 4 Ques)
$3.00 no category Mathew_Tutor 0 time(s)
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