Business, 15.04.2020 20:36 marissaimuniz

Cleanlt is a competitive labor market. perfectly competitive, profit-maximizing trash collection firm. Cleanlt hires workers in a perfectly

a. Draw side-by-side graphs for the labor market and for Cleanit and show each of the following.

i. The market wage, labeled Wm, and the quantity of workers hired in the market, labeled Lm
ii. The marginal factor (resource) cost curve, labeled MFC
ili. The marginal revenue product curve, labeled MRP
iv. The wage paid by the firm, labeled Wf, and the quantity of workers hired by the firm, labeled Lt

b. Assume that Cleanlt is the only firm in the industry to adopt a new technology. The new technology increases the productivity of Cleanlt's workers.

i. In the short run, will the wage paid by Cleanlt be higher than, lower than, or equal to Wf? Explain.
ii. In the short run, will the number of workers hired by Cleanlt increase, decrease or stay the same? Explain.

c. Cleanlt uses capital in the form of trucks, which it rents for $10,000 each. The marginal product of the last truck used is 100,000 units. If Cleanlt is minimizing its costs and the marginal product of the last c. worker hired is 500 units, calculate the wage. Show your work.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 21.06.2019 17:00, dondre54

While information systems can be used to gain a strategic advantage, they have inherent risks. hershey foods, for example, crippled its halloween sales when its complex is system failed to support its supply and inventory needs during peak production season. this is an example of which specific is risk

Answers: 3

continue

Business, 22.06.2019 09:40, bennett2968

Boone brothers remodels homes and replaces windows. ace builders constructs new homes. if boone brothers considers expanding into new home construction, it should evaluate the expansion project using which one of the following as the required return for the project?

Answers: 1

continue

Business, 22.06.2019 16:10, ilovemusicandreading

The brs corporation makes collections on sales according to the following schedule: 30% in month of sale 66% in month following sale 4% in second month following sale the following sales have been budgeted: sales april $ 130,000 may $ 150,000 june $ 140,000 budgeted cash collections in june would be:

Answers: 1

continue

Business, 23.06.2019 03:10, leximae7720

Prepare the operating activities section—indirect method.(lo 4), apthe income statement of paxson company is presented here. paxson companyincome statementfor the year ended november 30, 2014sales revenue $7,600,000cost of goods sold beginning inventory$1,900,000 purchases4,400,000goods available for sale6,300,000 ending inventory1,600,000total cost of goods sold 4,700,000gross profit 2,900,000operating expenses selling expenses450,000 administrative expenses700,0001,150,000net income $1,750,000additional information: prepare the operating activities section—indirect 1. accounts receivable decreased $380,000 during the year, and inventory decreased $300,000.2. prepaid expenses increased $150,000 during the year.3. accounts payable to suppliers of merchandise decreased $350,000 during the year.4. accrued expenses payable decreased $100,000 during the year.5. administrative expenses include depreciation expense of $110,000.instructionsprepare the operating activities section of the statement of cash flows for the year ended november 30, 2014, for paxson company, using the indirect method. net cash provided $1,940,000

Answers: 1

continue

You know the right answer?

Cleanlt is a competitive labor market. perfectly competitive, profit-maximizing trash collection fir...