Maurice Tutor

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About Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 307 Weeks Ago, 2 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > HR Management Posted 21 Oct 2017 My Price 4.00

implicit costs

Imagine that you have invested $1 million in a McDonaldAc€?cs franchise restaurant. The investment includes expenses on land, buildings, and franchise fees.

  1. What are some of the explicit costs and implicit costs of this franchise operation?
  2. How do you expect the output of your franchise to change as you hire more labor? Do you expect to see increasing marginal returns, decreasing marginal returns, or constant returns to labor? Explain.
  3. Suppose an increase in the minimum wage has raised your franchiseAc€?cs labor costs. How do you respond to the higher labor costs? How will the higher labor costs affect your short-run cost curve, long-run average product curve, and average cost curve?

Answers

Maurice Tutor
(5)
Status NEW Posted 21 Oct 2017 03:10 PM My Price 4.00

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