With current technology, suppose a firm is producing 400 loaves of banana bread daily. Also assume that the least-cost combination of resources in producing those loaves is 10 units of labor, 7 units of land, 4 units of capital, and 3 units of entrepreneurial ability, selling at prices of $20, $60, $40, and $20, respectively. Assume the firm can sell these 400 loaves at $2 per unit.
a. What is the firm's total revenue?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “With current technology, suppose a firm is producing 400 loaves of banana bread daily. Also assume that the least-cost combination of ...” 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
A company has had stable sales and production for several years. Next year, sales are expected to increase by at least 50%.
Answers (1)
What would most likely happen if the federal government decreased taxes for its citizens? A) Aggregate demand would increase, especially for wealthy individuals. B) Aggregate demand would decrease, especially for wealthy individuals.
Answers (1)
If an organization's present suppliers are especially expensive, unreliable, or incapable of meeting the firm's needs for parts, components, assemblies, or raw materials, what strategy is best?
Answers (1)
Innovative Products reported net income of $205,000. Beginning and ending inventory balances were $40,000 and $45,000, respectively. Accounts payable balances at the beginning and end of the year were $35,000 and $33,000, respectively.
Answers (1)
What is the term for supply of product that cannot easily or quickly expand or reduce its production? A. profit B. Supply Schedule C. inelastic D. Elastic
Answers (1)
New Questions in Business
Using monetary theory, one can show that the price level (index) in an economy is equal to: (a) the inflation rate minus the interest rate. (b) the average change in the level of trade over the past 5 quarters. (c) the velocity of money.
Answers (1)
According to circus founder P. T. Barnum, what happens without publicity? Question 3 options: Business failure Decline in customers Increased productivity Nothing
Answers (2)
Which of any essential product that will be affected by an increase in fuel which is very important even to the poorest of the poor
Answers (1)
Assume that a speculator purchases a put option on British pounds (with a strike price of $1.50) for $.05 per unit. A pound option represents 31,250 units. Assume that at the time of the purchase, the spot rate of the pound is $1.
Answers (1)
In January the company produced 4,400 units using 10,180 pounds of the direct material and 2,160 direct labor-hours. During the month, the company purchased 10,750 pounds of the direct material at a cost of $76,630.
Answers (1)