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- Suppose that a firm is considering hiring an employee whose wage would be $100 per hour. This employee's marginal product of labor (per hour) is 5 units and the good produced sells for $65 per unit. Will the firm hire the new employee? OYes ONo How much additional profit (or loss) will the firm generate by hiring this employee? (Make sure to add the negative sign if the firm faces a loss)When prices are rising, would you choose a FIFO or weighted average cost flow assumption? Explain, using an example to support your answer. Would your choice be the same if prices were falling? If employees get a year-end bonus accourding to amount of net income earned during the end of year. Could you please give me an example?Consider two different cost structures for the same firm. The first has higher variable costs per unit (V=56) but lower fixed cost (F=2,107). If the firm invests in a labor saving machine the cost structure will tip towards fixed costs with variable cost per unit V34 and fixed costs Fa3,582. The selling price is the same for both scenarios P=100) and the current level of production is 80. Calculate the profit under each soenario and how that changes as unit sales increase to 100; also, as they decrease to 60. What is the percent change in profits from 80 units to 100 units under the scenario with higher variable costs?
- Suppose you have a production technology that can be characterized by a learning curve. Every time you increase production by one unit, your marginal cost decreases by $8. There are no fixed costs, and the first unit costs you $70 to produce.Q1.Determine the production plan that will maximise the weekly profit of MJD Ltd and prepare a profit statement showing the profit your plan will yield. Q2.The marketing director of MJD Ltd is concerned about the company’s ability to meet the quantity demanded by its customers. Two alternative strategies are being considered to overcome this: To increase the number of hours worked using the existing machinery by working overtime. Such overtime would be paid at a premium of 50% above normal labour rates, and variable overheads costs would be expected to increase in proportion to labour costs. To buy product B from an overseas supplier at a cost of £19 per unit; which includes the cost of delivery. This purchased product would need to be repackaged at a cost of £1 per unit before it can be sold Evaluate each of the two alternative strategies and write a report to the marketing director discussing which strategy should be adopted.If you are the CEO and you give your employees a bonus at the end the year, according to their net income during the year. When prices are rising would you choose FIFO or Weighted average cost flow assumption.
- What would be the impact on the targeted overhead rate if the firm decides to boost marketing expenses by RM20,000, according to the plan? What will be the actual cost of items sold?TockTick Company is contemplating increasing salaries 10% for all salaried employees. No other costs or revenues will change. If the company does increase salaries, which of the following is true? Break-even point will increase and margin of safety will not change O Break-even point will increase and margin of safety will increase O Break-even point will decrease and margin of safety will decrease O Break-even point will increase and margin of safety will decrease O Break-even point will decrease and margin of safety will increaseSuppose that a constraint for assembly time has a shadow price of \$50/hour for 15 hours in either direction and that all available assembly time is currently used (would require overtime to do more the salary of workers is $30 and they receive 50% extra pay for overtime what should management do? Pay $30 per hour and net $20 profit per hour for all 15 hours Pay 545 per hour and net $5 profit per hour for all 15 hours Pay $15 per hour overtime net $35 profit per hour for all 15 hours Do not pay the S45 hour premium rate to achieve only $15 more proht per hour Pay $50 per hour shadow price for all 15 hours
- You are an industry analyst that specializes in an industry where the market inverse demand is P = 100 - 2Q. The external marginal cost of producing the product is MCExternal = 8Q, and the internal cost is MCInternal = 18Q.Instructions: Enter your responses rounded to the nearest two decimal places.a. What is the socially efficient level of output? unitsb. Given these costs and market demand, how much output would a competitive industry produce? unitsc. Given these costs and market demand, how much output would a monopolist produce? unitsd. Which of the following are actions the government could take to induce firms in this industry to produce the socially efficient level of output.Instructions: For correct answers place a check mark. check all that apply Nonrival consumptionunanswered Pollution taxesunanswered Pollution permitsunansweredA firm in a perfectly competitive industry has a typical cost structure. The normal rate of profit in the economy is 6 percent. This firm is earning $15 on every $150 invested by its founders. Instructions: Enter your answers as whole numbers. a. What is its percentage rate of return? percent. b. Is the firm earning an economic profit? (Cick to select) If so, how large? O percent. c. Will this industry see entry or exit? (Click to select) d. What will be the rate of return earned by firms in this industry once the industry reaches long-run equilibrium? O percent.Assume that a firm produces an industrial product of a variable cost of $8,500 and has fixed costs of $ 25,000 per week ,currently the firms sells 20 units per week priced at $ 10625 per unit . What is the current profitability of the firm? What is the improvement to profitability if variable costs are reduced by 1 percent holding all else constant? What is the improvement to profitability if fixed costs are reduced by 1 percent ,holding all else constant ?what is the improvement to profitability if units sold are increased by 1 percent on average ,holding all else constant? What is the improvement to profitability if the price is increased by 1 percent holding all else constant? In isolation improving which aspect of the firm will have the largest positive impact on profits?