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The desire to maximize profits can work against racial and other types of discrimination. To see this, consider two equally productive accountants named Ted and Jared. Ted is black, and Jared is white. Both can complete 10 audits per month. a. Suppose that for any accounting firm that hires either Ted or Jared, all the other costs of performing an audit (besides paying either Ted or Jared) come to $1,100 per audit. If the going rate that must be paid to hire an accountant is $8,000 per month, how much will it cost an accounting firm to produce one audit if it hires either Ted or Jared to do the work? The cost of producing one audit will be $ . b. If the market price that accounting firms charge their clients for an audit is $2,100, what would the accounting profit per audit be for a firm that hired either Ted or Jared? $ per audit What is the profit rate as a percentage? Instructions: Round your answer to one decimal place. Approximately % c. Suppose that firm A dislikes hiring black accountants, while firm B is happy to hire them. So Ted ends up working at firm B rather than firm A . If Ted works 11 months per year, how many audits will he complete for firm B each year? audits How much in accounting profits will firm B earn each year from those audits? $ d. Because firm A passed on hiring Ted because he was black, firm A is forgoing the profits it could have earned if it had hired Ted. If the firm is willing to forgo up to $11,000 per year in profit to avoid hiring blacks, by how many dollars will firm A regret its decision not to hire Ted? $
Wagner Industries preferred stock has a par value of $50 and a stated dividend rate of 6.0%. This means that Wagner will pay $3.00 (6% x $50) in dividends per share, per year forever. There will never be an increase or decrease in the dividend. Suppo..
Interest paid on reserves held at the Fed
The set-up cost per lot is estimated to be $40, and the manufacturing cost has been established at $5.20 per unit. Interest, insurance, taxes, space, and other holding costs are $3.10 per unit per year. Calculate the economic manufacturing quantit..
Suppose that you want to maximize the value of the function f(x) = 8x^2 - x^4. Which value(s) of x satisfy the first-order condition for this maximization problem? Which value(s) of x are boundary points? Which value(s) of x solve the maximization pr..
Find an article (newspaper, magazine or online) about the unemployment rate. Use the article to answer the following questions: What is the current unemployment rate in the US? Is the unemployment rate rising, remaining the same, or decreasing? There..
ABC Inc., sponsors the "Pioneer Trial Ultramarathon," with an advertised first price of $10,000. The rules require the competitors to run 100 miles from the floor of Blackwater Canyon to the top of the Pinnacle Mountain. The rules also provide that A..
Suppose that a proposal is under review to strengthen the NPDWS for benzene, and the associated abatement level would generate a marginal social benefit (MSB) that is greater than the marginal social cost (MSC) by $125,000. On efficiency grounds, sho..
What is value of net domestic product. What is value of net investment.
When advertising fosters brand loyalty, critics claim that it. A key determinant of recent labor productivity has been. When a profit-maximizing firm makes a decision to employ a worker, that decision is based on. For a perfectly competitive firm to ..
Critically evaluate the following statement: Playing the stock market is like gambling. Such speculative investing has no social value, other than the pleasure people get from this form of gambling.
AZ approved 98 patients for organ transplants, but those patients have been told they can no longer receive transplants because of budget cuts. The state is facing a $1.5 billion budget deficit and has cut all of their state-funded lung transplants a..
What is Employee Productivity and briefly explain the methods or techniques to improve employee productivity in an organization.
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