CourseLover

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Teaching Since: May 2017
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    Devry University
    Sep-2004 - Aug-2010

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  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Accounting Posted 09 Dec 2017 My Price 10.00

net marginal revenue product

Just Bikes, Inc., sells tricycles, in partially-assembled and fully assembled forms. Parents who assemble their own tricycles benefit from the lower price of $45 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 number of assembly workers employed per day and assembled tricycle output:

Number of Workers Per Day Finished Tricycles

0 0

1 7

2 13

3 17

4 20

5 21

A) Construct a table showing the net marginal revenue product derived from assembly worker employment.

B) How many assemblers would Just Bikes employ at a daily wage rate of $100?

C) What is the highest daily wage rate Just Bikes would pay to hire three assemblers per day?

Answers

CourseLover
(12)
Status NEW Posted 09 Dec 2017 06:12 AM My Price 10.00

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