How many barbers does the shop employ

Assignment Help Business Economics
Reference no: EM131099842

A barber shop produces 192 haircuts a day. Each barber in the shop works 8 hours per day and produces the same number of haircuts per hour. If the shop’s productivity is 2 haircuts per hour of labor, then how many barbers does the shop employ?

Reference no: EM131099842

Questions Cloud

If the marginal product per dollar spent on capital : If the marginal product per dollar spent on capital is more than the marginal product per dollar spent on labor, then in order to minimize costs the firm should use
Evaluate the role of executive level : Evaluate the role of an Executive Level BPM Group. Who would be members of that group and how is this group responsible for reducing resistance to change? Deduce at least one method by which the organization can reduce change resistance?
How much did corn subsidies cost per person : In 2009, it was estimated that the total value of all corn production subsidies in the United States totaled about $4 billion. The population of the United States was approximately 300 million people that year. On average, how much did corn subsidies..
Conduct the final strategy selection and leadership plan : Conduct the final strategy selection and leadership plan for your company or organization. Use all of the tools necessary to summarize the strategic and implementation plan. The evaluation should be 3-5 pages in length, at least 3 references, and APA..
How many barbers does the shop employ : A barber shop produces 192 haircuts a day. Each barber in the shop works 8 hours per day and produces the same number of haircuts per hour. If the shop’s productivity is 2 haircuts per hour of labor, then how many barbers does the shop employ?
Administrative agency hearing and court hearing : A significant difference between an administrative agency hearing and a court hearing is that... a binding decision can only be made by an agency. OR there is no right of trial by jury before an agency. OR a court hearing allows no public interventio..
Services in a cross-cultural environment : After spending a substantial amount of revenue doing market research in foreign markets you found that there are numerous ethical and legal that should be taken into consideration. What are some of the key factors that should be taken into considerat..
Pricing structure in perfect competitive market : What is the pricing structure in a perfect competitive market. What is the pricing structure in a monopoly. If the company produces nothing which of the costs is equal to zero?
Describe this campaign and outline the main arguments : Describe this campaign and outline the main arguments for investing in Industry Funds rather than the retail funds which the campaign is primarily targeted against.

Reviews

Write a Review

 

Business Economics Questions & Answers

  Use calculated elasticity to comment on substitutability

Canada increased from 7,500 kg per month to 8,000 kg per month. Use calculated elasticity to comment on substitutability or complementarity of coffee and tea

  Suppose a soft-drink firm is grappling with the decision

Suppose a soft-drink firm is grappling with the decision about whether or not to introduce to the market a new carbonated beverage with 25 percent real fruit juice. How might it use the six decision steps to guide its course of action?

  What opportunity costs are involved in this article

Find an article (newspaper, magazine, or online) talking about any of the core issues or scarcity resources of economics. Use an article to answer the questions: What core issues or resources does the article talk about?

  Elucidate how the changes in the monetary policy effectivene

elucidate how the changes in the monetary policy effectiveness lag and the interest-rate multiplier affects how much and how long monetary policymakiers must change interst rates in response to any given demand shock.

  Compute the decline in consumer surplus

If this tariff is imposed, how much will consumers pay for a pound of tea. What is the quantity demanded. Compute the decline in consumer surplus.

  Define supply as an economist would

1. Define supply as an economist would. 2. List and explain three (3) non-price factors that will shift the supply curve.

  Elucidate how that influences the marginal benefits

Elucidate how that influences the marginal benefits and marginal. Costs associated with your decision to purchase a house.

  What is the long-run industry supply curve for prices

The bicycle industry is made up of 100 firms with the long-run cost function c1(y) = 2 + (y^2)/2 and 60 firms with the long-run cost function c2(y) = (y^2)/10. No new firms can enter the industry. What is the long-run industry supply curve for prices..

  Checkable deposit at fershur bank

Riley deposits $4,000 cash in her checkable deposit at Fershur Bank. If the desired reserve ratio is 5%, Fershur Bank’s

  What change in the money supply

Suppose you are given a money supply model where r = 0.1, e = 0.2, and c = 0.4. What is the money multiplier? What change in the money supply will result from an open market sale of $400,000?

  How the ppp methodology works

This exercise presents a simple example to elucidate how exchange-rate conversions can produce misleading results and how the PPP methodology works.

  How would the increase in defense affect the economy

Suppose that in response to a foreign crisis, the government increases defense spending by $50 billion. How would the increase in defense affect the economy? How would the effects differ depending on the size and sign of the output gap when the cr..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd