Develop a table that you believe shows the explicit fixed

Assignment Help Business Economics

Reference no: EM13245419

Explain what a technological change is and how you can use it to lower your costs.The next thing that your small business advisors asked you to do was to break down your costs and see what you can reduce.

Develop a table that you believe shows the explicit fixed costs of the bread factory and the total amount of the costs.

Describe your variable costs.

Because you are not an expert yet on analyzing costs and optimal production levels, you decide to do a very simple analysis of your short-run fixed and variable costs if you expand. You decide that your only fixed cost will be the ovens and the variable costs will be the workers.

Calculate the total cost and the average total cost, and add it to the table

Calculate the marginal product of labor, and add it to the table.

Calculate the average product of labor, and add it to the table.

Although there seems to be a great demand for your bread, why would productivity decline when you hire more labor in the short run?

What are your marginal costs?

At what point do your marginal costs and your total costs intersect?

Calculate your average total costs, your average fixed costs, and your average variable costs.

What happens to your average variable costs as your output goes up? Why is that?

How would expanding the business affect the economies of scale? When would you have constant return to scale and diseconomies of scale? Provide examples.

Where is the optimal level of production and the optimal level of prices in the short run?

Reference no: EM13245419

Questions Cloud

How do small investors benefit from efficient markets : Consider the case of a day trader who looks only at the past history of stock prices in conducting his or her trades. How likely would it be for such a person to beat the market? What does this suggest about investing in the "entire market

Evidence to reject the salesmans claim : Find that a random sample of 14 similar cars has a mean of price of $19,850 with a standard deviation of $1084. Is there enough evidence to reject the salesman's claim at "alpha" = 0.05?

Explain how many times more concentrated is the acid : Acid rain over the Great Lakes has a pH of about 4.5. Acid rain over of the West Coast has a pH of 5.3. How many times more concentrated is the acid in rain over the Great Lakes?

What cab be a perfectly elastic supply curve : Elasticity of demand is a measure of the responsiveness of to changes in price. Over time the elasticity of supply for a particular good or service tends to become A tax on a service that has a relatively elastic demand and a relatively inelastic s..

Develop a table that you believe shows the explicit fixed : Although there seems to be a great demand for your bread, why would productivity decline when you hire more labor in the short run?

How to calculate the ph of the acid : net ionic equation for the reaction of 0.100 M nitrous acid with Barium hydroxide. Calculate the pH of the acid - I'm lost - can you help with the calculations

Which person has comparative advantage in chicken : Suppose that they are thinking of each specializing completely in the area in which they have a comparative advantage, and then trading at a rate of 2.5 pounds of potatoes for 1 chicken, would they each be better off

Explain what are two structural features that allow soap : what are two structural features that allow soap molecule to work in either to have a good soap

What are some of the major provisions of the wall street : What factors led to the mortgage default crisis? How did mortgage defaults affect banks involved in mortgage lending and mortgage investing

User Account

All Pages