Partially-assembled and fully assembled forms

Assignment Help Business Economics
Reference no: EM131395732

Little Bikes, Inc., sells tricycles, in partially-assembled and fully assembled forms.  Parents who assemble their own tricycles benefit from the lower price of $40 per tricycle.  "Full-service" customers enjoy the luxury of an assembled tricycle, but pay a higher price of $60 per tricycle.  Both partially and fully assembled tricycle prices are stable.  The company has observed the following relation between the numbers of assembly workers employed per day and assembled tricycle output:

Number of Workers per Day

Finished Tricycles

0

0

1

8

2

14

3

18

4

21

5

23

How many assemblers would Little Bikes employ at a daily wage rate of $100?   What is the highest daily wage rate Little Bikes would pay to hire 3 assemblers per day?

Reference no: EM131395732

Questions Cloud

Situation analysis of nigeria before and after colonialism : Situation analysis of Nigeria before and after colonialism. Factors to be taken into consideration would be geographical, economical, HDI, GDP, GNI, Education level, Growth and National assets.
Invent stipulative definitions for two new words : The following exercises involve constructing definitions:- Invent stipulative definitions for two new words that you wish to introduce into the language for the first time.
Calculate long run growth in output per worker : Suppose we know that output in the economy is given by the production function: YttKt1/2Lt1/2. If total factor productivity (A) is growing at a rate of 1.5% per year, the capital stock (K) by 2%, and the labor supply (L) by 1%, a. Calculate lon..
Construct lexical definitions for capital and depression : The following exercises involve constructing definitions:- Construct lexical definitions for "capital" and "depression," and indicate two different meanings for each.
Partially-assembled and fully assembled forms : Little Bikes, Inc., sells tricycles, in partially-assembled and fully assembled forms.  Parents who assemble their own tricycles benefit from the lower price of $40 per tricycle.  "Full-service" customers enjoy the luxury of an assembled tricycle,..
Construct precising definitions for middle aged : Construct precising definitions for "middle-aged" and "alcoholic." Interpret both words as relating to people and specify the purpose for which the definitions are to be used.
Explain the golden rules and principles of design : Explain the Golden Rules and Principles of Design. Use both knowledge in the world and knowledge in the head. Exploit the power of constraints, both natural and artificial.
What is the final goal of marketing activities : What is the final goal of marketing activities, and what are the four things you need to know to define a market?
Criticize the given definitions - a sculpture : Criticize the following definitions in light of the eight rules for lexical definitions:- A sculpture is a three-dimensional image made of marble.

Reviews

Write a Review

Business Economics Questions & Answers

  Illustrate what are the likely responses on the demand

When on leave, workers receive 55% of their normal paya. Illustrate what are the likely responses on the demand (employer) side of the market.

  Significant number of anheuser busch employees

In 2008, the Board of Directors and shareholders of Anheuser Busch agreed to be acquired by a Belgian Brewer (InBev). Prior to the merger, InBev made many pledges to AB regarding how the company would operate after the merger, how its employees would..

  Determine gdp using product-expenditure and income approach

Assume an economy with a coal producer, a steel producer, and some consumers (there is no government). In a given year, the coal producer produces 15 million tons of coal and sells it for $ 5 per ton. The coal producer pays $ 50 million in wages to c..

  What is the monthly loan payment

You just graduated college and want to celebrate by buying a new car. The car you like can be purchased for $35,000. Your old college clunker is worth $4,000 on a trade. The dealer is offering 0.9% per year financing on the entire purchase price. Wha..

  What is the rms average cost at this output

The White Company is a member of the lamp industry, which is perfectly competitive. The price of a lamp is $50. The rm's total cost and marginal cost functions are: What is the rm's economic pro t at this out- put? What is the rm's average cost at th..

  Explain the debate on equal rights

Explain the debate on equal rights, especially as related to marriage, for gay men and lesbians continues. Would you classify this as an issue or as a problem.

  Different levels in maslows hierarchy for parts of life

Consider which stage of Maslow's Hierarchy of Needs you are most likely in that drives a lot of your purchase decisions. Are those purchases consistent with this stage? As noted in the topic, a person could be at different levels in Maslow's Hierarch..

  What is the price elasticity of demand if the price of good

The market demand for a product is given by: Q= 300 - 5P + Y. Where why is average consumer income? The current level of income is 200. What is the price elasticity of demand if the price of the good is $20.00?

  In looking at gdp we see that not all aspects are counted

In looking at GDP we see that not all aspects are counted. Do you find that the items like buying a home or a used car should be counted in GDP?

  Incomes so much more unequal within poor nations

Why are incomes so much more unequal within poor nations that within rich nations generally

  Gas-fired plants would minimize construction costs

what combination of coal-fired plants and gas-fired plants would minimize construction costs.

  Describe the current conditions in the money market

The following data describe the current conditions in the Money Market. Amount of Money Supplied $100 billion $200 billion $300 billion $400 billion $500 billion $600 billion $700 billion. What happens in this economy if the Amount of Money Supplied ..

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