BUSINESS COLLEGE

In 2009, a computer manufacturer had a labor productivity of 3.33 units per labor hour. In 2010, the computer manufacturer had a labor productivity of 4.27 units per labor hour. The percent change in labor productivity is:

Answers

Answer 1
Answer:

Answer:

The percent change in labor productivity is 22%

Explanation:

Listing out the parameters given:

labor productivity (2009) = 3.33 units/hr,

labor productivity (2010) = 4.27 units/hr

To calculate the percent change in labor productivity, we have it thu:

percent change in labor productivity = [labor productivity (2010) - labor productivity (2009)] ÷ labor productivity (2010)

Let's assume 'Labor productivity' = LP

%Δ in LP = (LP _2_0_1_0 - LP _2_0_0_9)/(LP _2_0_1_0) * 100% =(4.27 - 3.33)/(4.27) * 100%

%Δ in LP = (0.94)/(4.27) * 100% = 22%

%Δ in LP = 22%

This shows an increase in computer manufacturing from 2009 to 2010 by 22%
Answer 2
Answer:

Answer:

percentage change in labor productivity = 28.23%

Explanation:

In 2009 the computer manufacturer had a labor productivity of 3.33 units per labor hour.  In 2010 the productivity increased to 4.27 units per labor hour.

The percentage change in labor productivity can be calculated  as

change in labor productivity = New labor productivity - Old labor productivity

percentage change in labor productivity = change in labor productivity/old labor productivity  × 100

Old labor productivity = 3.33 unit

New labor productivity = 4.27 unit

change in labor productivity = 4.27 - 3.33 = 0.94

percentage change in labor productivity = 0.94/3.33  × 100

percentage change in labor productivity = 94/3.33

percentage change in labor productivity = 28.2282282282

percentage change in labor productivity = 28.23%

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(1) You go to Seven-11 and see the price of a super Slurpee quoted as $1.39. (2) You buy the super Slurpee and pay with $1.39 in cash. In the first instance money serves as ___________, while in the second instance money serves as ___________.

Answers

Answer:

In the first instance money serves as Measure of Value, while in the second instance money serves as Medium of Exchange.

Explanation:

The measure of value and medium of exchange are two of the functions of money which are explained as follows:

a) Measure of Value

The function of money as a measure of value permits all goods and services to be attached prices. That is, every commodity is valued in terms of money. Therefore, money gives the opportunity to compare values of goods and services. Measure of value is also referred to as a unit of value.

From the question, the function of money as a measure of value is what permits Seven-11 to quote a super Slurpee as $1.39.

b) Medium of exchange

The function of money as a medium of exchange provides the opportunity use money as an intermediary instrument in order to ensure goods and services purchased, sold or traded between parties at a standard value. This is different from what obtained under the trade by barter in which commodities had to be exchanged for commodities without any standard value.

From the question, the function of money as a medium of exchange allows an amount of $1.39 which is a standard value was exchanged for the super Slurpee.

Answer:

(1) Unit of Account

(2) Medium of Exchange

Explanation:

(1) A unit of account is the measure in which prices are quoted. Thus, when the price of the super Slurpee is quoted in dollars, money functions as a unit of account.

(2) A medium of exchange is what people trade for goods and services. Thus, when you buy the super Slurpee, you are offering the $1.39 in exchange for the super Slurpee. Money here serves as a medium of exchange.  

Suppose demand for a product is highly elastic. What will likely happen to a company's total revenue if it raises the price of that product?a. total revenue will riseb. total revenue will fallc. total revenue will remain the samed. total revenue will fluctuate

Answers

Answer:

The correct answer is b. Total revenue will fall.

Explanation:

The equation for the price elasticity of demand (PED) is ε = (dQ/Q)/(dP/P)

where Q represents the quantity, P represents the price and d represents variation.

If the demand for a product is highly elastic, mathematically it means that the PED in absolute value is greater than 1.

|ε| > (dQ/Q)/(dP/P) ⇒ |ε| > 1

Economically that means that the quantity demanded of that product will decrease more than proportionally to the increase in price of that same product. In other words, the company will experience that a increase in price of its product raises the revenue for each unit sold, but given that the PED is highly elastice an increase in price reduces the number of units actually sold to the extent the company's total revenue actually falls.

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Answers

Answer:

The answer is Fixed cost.

Fixed cost remains constant for a given period and does other change with the eh level of production. However, the per unit fixed cost decreases when the Level of production increases and vice versa.

Also, fixed cost is difficult to.control and manage relatively to the variable.costs.

Explanation:

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Cost of cleaning up coal ash sites is $30 million today.
If the coal ash is not cleaned up

a. There is a 10% chance the coal ash ponds flood and causes $70 million dollars in damages.
b. There is a 20% chances the coal ash seeps into the ground water causing $100 million in damages.
c. There is a 70% chance the coal ash sites cause no damage to the state of North Carolina.

1. What is the expected benefit of cleaning up the coal ash site (i.e. how much do we expect to avoid in future damages)?
2. What sort of analysis would you undertake to advise the governor? Would you recommend the governor require Duke clean up the coal ash sites? (no need to complete calculation, just write the formula used for decision making)?

Answers

Answer:

1) expected benefits of cleaning up coal ash site is $27 million

2) The expected benefits of cleaning the site are less than the costs of cleaning them ($30 million cost > $27 million benefits). But the problem is that the cleaning costs will be covered by Duke Energy today, but in the future, there is a risk that the costs will be covered by the state government. Companies are not eternal and even industry leaders like Kodak, Sears, Toys R Us, Radio Shack, GM, etc., have gone bankrupt. The difference between the costs and the benefits is not that large to risk the state government having to pay for the cleaning costs in the future.

Explanation:

Costs of cleaning coal ash $30 million

Expected benefits form cleaning coal ash:

  • $70 million x 10% = $7 million
  • $100 million x 20% = $20 million
  • $0 x 70% = $0
  • total benefits = $27 million

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Answers

Answer:

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