A cleaning company specializes in cleaning floors. Their output is measured in square feet of floor completely cleaned. Employee A can clean 215 ft2 floor per hour and has an hourly wage of $17. Employee B can clean 180 ft2 floor per hour and has an hourly wage of $15. Which employee has a lower marginal cost of producing cleaned floor area for the firm? Group of answer choices a. Cannot determine with the information given b. Employee A c. they have the same MC d. Employee B

A cleaning company specializes in cleaning floors. Their output is measured in square feet of floor completely cleaned. Employee A can clean 215 ft2 floor per hour and has an hourly wage of $17. Employee B can clean 180 ft2 floor per hour and has an hourly wage of $15. Which employee has a lower marginal cost of producing cleaned floor area for the firm? Group of answer choices a. Cannot determine with the information given b. Employee A c. they have the same MC d. Employee B

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Labor Markets

Section: Chapter Questions

Problem 17SQ

See similar textbooks

Similar questions

Diminishing returns begins with the addition of the 2nd,5th,4th or 3rd worker
What is task definition (as a situational variable)?Give an example of how it can influence theconsumption process.
Don't give me AI generated answer or plagiarised answer. If I see these things I'll give you multiple downvotes and will report immediately.
A print shop wants to expand production. It currently has 20 workers and 8copiers and recently added two copiers which increased daily output by100,000. They also added 4 workers which increased output by 80,000. Eachcopier costs twice as much as hiring an extra worker. What is the best courseof action: hiring another employee, or buying an extra copier
PQ 13.05 A restaurant with one, two, three, or four employees can serve 35, 50, 64, or 75 customers, respectively. The marginal product of the third worker is: Type your numeric answer and submit
Geralt works for Stregobor as a witcher earning $87,000 a year. He decides to quit his job andbecome a freelance witcher. As a freelancer, he spends $7000 on herbs and weapons. Insurancecosts him $1000 a year. He pays himself $145,000 as a salary. His total revenues for the year are$191,000. Based on this information, what were his economic costs as a freelance witcher?
Can you show the written out work for this problem please
Health and safety regulations in the labor market Multiple Choice O O are always efficient because they improve working conditions. should be evaluated by comparing their costs to their benefits. can lead to an increase in frictional unemployment. Saved are necessarily inefficient if they impose additional costs on employers.
You have been hired as an HR consultant to help implement a high-performance work system at a large firm. To date, you have discussed the need for change with employees and explained strategy and the vision of the future. What should you do next? O Perform a process audit. O Allocate resources. Engage senior management. Tie the HPWS to performance. Use your knowledge of high-performance work systems to answer the following question. You have been hired as an HR consultant to monitor and evaluate a high-performance work system that has been in place for two years at a large firm. What are the best questions to include in your process audit? Check all that apply. Is the organization more competitive than in the past? What is the employee turnover rate? What is the overall satisfaction rate of employees? Are employees being treated fairly so that power differences are minimal?
Action No Recycling Recycling Chemical Lab (Dollars) 2,400 2,100 Profit Water Park (Dollars) 1,100 1,900 Total (Dollars) Total economic profit is highest when the recycling production method is When the chemical lab uses the recycling method, the water park earns $1,900 - $1,100 = $800 more per week than it does with no recycling. Therefore, the water park should be willing to pay up to $800 per week for the chemical lab to recycle water. However, the recycling method decreases the chemical lab's economic profit by $2,400 - $2,100 = $300 per week. Therefore, the chemical lab should be willing to use the recycling method if it is compensated with at least $300 per week. Suppose the water park has the property rights to the lake. That is, the water park has the right to a clean (unpolluted) lake. In this case, assuming the two firms can bargain at no cost, the chemical lab will the recycling method and will pay the water park per week. Now, suppose the chemical lab has the property…
A perfect competitor charges a price of $30. The first worker he would hire would have a marginal physical product of 20, the second worker he would hire would have a marginal physical product of 18, the third worker would have a marginal physical product of 16, and the fourth worker would have a marginal physical product of 14. (a) How many workers would he hire if the wage rate were $540? worker(s) hired How much would his wage bill be? $ wage bill (b) How many workers would he hire if the wage rate were $470? worker(s) hired How much would his wage bill come to? $ wage bill.
Output from a process contains 0.02 defective unit. Defective units that go undetectedinto i nal assemblies cost $25 each to replace. An inspection process, which would detectand remove all defectives, can be established to test these units. However, the inspector,who can test 20 units per hour, is paid $8 per hour, including fringe benei ts. Should aninspection station be established to test all units?a. What is the cost to inspect each unit?b. What is the benei t (or loss) from the inspection process?