How many workers should the manager hire

Reference no: EM13785915

1 a. A restaurant has three types of customers. A third of its customers, Type A, are willing to spend $5 on an appetizer but only $2 on a dessert. Another third, Type B, are willing to spend $3.50 on an appetizer and $3.50 on a dessert. The remaining third, type C, are willing to spend only $2 on an appetizer but $5 on a dessert. All three types are willing to spend $10 on the main course. It costs the restaurant a constant $2 to prepare an appetizer or a dessert, and $7 to prepare the main course. Which is optimal for the restaurant, to offer appetizers and desserts a la carte (with separate prices on the menu), or to offer them as a complete meal, tied with the main course? 1 b. The manager of a national retailing outlet recently hired an economist to estimate the firm's production function. Based on the economist's report, the manager now knows that the firm's marginal product of labor is MP = 60 - 2L, where L is the number of workers hired. The manager can sell the product in the market place for $100 per unit, and the wage rate for labor is $200. How many workers should the manager hire?

Reference no: EM13785915

Questions Cloud

Assignment on how to recognizing employee contributions : Normal 0 false false false EN-US X-NONE X-NONE Recognizing Employee Contrib..

Assist in setting admission prices : The local space museum has hired you to assist in setting admission prices. As the manager, you recognize that there are two distinct demand curves for admission. One applies to people ages 15 to 64 whereas the other is for children and senior citize..

Calculate the predetermined overhead rate : Calculate the predetermined overhead rate under the traditional costing system. Calculate the activity rate for Engineering.

How many workers should the manager hire : 1 a. A restaurant has three types of customers. A third of its customers, Type A, are willing to spend $5 on an appetizer but only $2 on a dessert. Another third, Type B, are willing to spend $3.50 on an appetizer and $3.50 on a dessert. The remainin..

What legal arguments could be raised in letishas defense : If Letisha does not pay and Sudson sues her for breach of contract, what legal arguments could be raised in Letisha's defense against the enforcement of the automatic renewal clause? Explain

Brainstorm a list of pseudo transformational and transformat : 1)Brainstorm a list of pseudo transformational and transformational leaders. What factors distinguish the two? How do your characteristics compare with those ? 2) What image from nature or daily life from Taoism do you find most interesting and helpf..

Description of research methodology : Briefly summarize the main details of your chosen social psychology research study. Identify the main research method(s) used in the study (e.g., case study, experiment, observation, etc.).

Issue managment life cycle process model : Apply the issue managment life cycle process model to this case. Which stages of the process can you identify in this case?

User Account

All Pages