A company is currently producing 100 chairs per day. Assume the market currently tells us that the least-cost combination of resources to produce 100 chairs is the following Labor Land 8 units Entrepreneurial ability Now assume the company sells 100 chairs at $5 per unit, and then answer the following questions: Instructions: Enter your answers as whole numbers
a. What is the company's total revenue?
b. What is the company's total cost?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A company is currently producing 100 chairs per day. Assume the market currently tells us that the least-cost combination of resources to ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
When the government decreases spending or increases taxes to slow economic expansion, the government is conducting: a contractionary fiscal policy. b contractionary monetary policy. c expansionary fiscal policy. d expansionary monetary policy.
Answers (1)
Suppose the government decides to enact a new tax on electronic cigarettes. What will happen in the market for electronic cigarettes? (Note: Neither the supply curve nor the demand curve for electronic cigarettes is perfectly inelastic.
Answers (1)
A monopoly: a. always makes a profit. b. can force consumers to purchase what it is selling. c. is characterized by a single seller who produces a well-defined product for which there are no good substitutes. d. always has naturally created barriers.
Answers (1)
Suppose that interest rates unexpectedly rise and that Carter Corporation announces that revenues from last quarter were down but not as much as the public had anticipated they would be down.
Answers (1)
If 14,700 units are produced, the total amount of manufacturing overhead cost is closest to: Fixed manufacturing overhead per unit (a) = $ 3.
Answers (1)
New Questions in Business
Describe the growth and development of the rail industry and what impact it had
Answers (1)
Money market mutual funds a. are very risky investments. b. require significant investments, so are out of reach of the common investor. c. carry no loads. d. none of the above. e.
Answers (1)
Cashier's checks Checks Question 5 0/1 pts If Sid Inc. has net sales of $750,000, sales on account of $600,000, and sales returns and allowances of $50,000, what would be the bad debt expense for the year, assuming that Sid uses an estimate of 12%
Answers (1)
True or false? Individual electronic components can be combined into larger groups, called diodes, to increase their usefulness.
Answers (1)
Beall's is a chain of department stores that operates all over Florida. After serving Florida for 100 years, Beall's has learned that different merchandise is needed in order to satisfy the different needs of the customers who live in different
Answers (1)