AC
Alexis chaidez
Answers (6)
AC
Answered
The optimal method of production maximizes cost for a given level of output.
On Jul 18, 2024
False
AC
Answered
Explain the concepts of formal structure and informal structure. Why must a manager understand and work with both the formal structure and the informal structure of an organisation?
On Jul 16, 2024
The formal structure of the organisation represents the way the organisation is intended to function in terms of jobs, lines of authority and patterns of communication. The informal structure is a 'shadow' organisation made up of the unofficial, but often critical, working relationships between organisational members. Informal structures can benefit organisations by helping people accomplish their work and allowing people to have access to interpersonal networks that provide emotional support and satisfy social needs. Informal structure and formal structure distinguish between the way work actually gets done and the way it is mapped on the organisation chart. It also illustrates the relationships in the shadow organisation and relationships on the organisation chart and how unofficial and official working relationships and communications patterns work within the organisation. Students can illustrate these with examples from their work experiences or any other business examples they know about.
AC
Answered
Under the Food, Conservation, and Energy Act of 2008, if the target price for a bushel of corn was $2.63 and the price of corn fell to $2.25, then a farmer would have received
A) a marketing loan.
B) a transition payment.
C) an acreage allotment.
D) a countercyclical payment.
A) a marketing loan.
B) a transition payment.
C) an acreage allotment.
D) a countercyclical payment.
On Jun 18, 2024
D
AC
Answered
Martin Manufacturing has implemented several programs to improve its productivity. They have asked you to evaluate the firm's productivity by comparing this year's performance with last year's. The following data are available:
Last Year This Year Output 10,500 units 12,100 units Labour Hours 12,00013,200 Utilities $7,600$8,250 Capital $83,000$88,000\begin{array} { | l | l | l | } \hline & \text { Last Year } & \text { This Year } \\\hline \text { Output } & 10,500 \text { units } & 12,100 \text { units } \\\hline \text { Labour Hours } & 12,000 & 13,200 \\\hline \text { Utilities } & \$ 7,600 & \$ 8,250 \\\hline \text { Capital } & \$ 83,000 & \$ 88,000 \\\hline\end{array} Output Labour Hours Utilities Capital Last Year 10,500 units 12,000$7,600$83,000 This Year 12,100 units 13,200$8,250$88,000 Has Martin Manufacturing improved its productivity during the past year?
Last Year This Year Output 10,500 units 12,100 units Labour Hours 12,00013,200 Utilities $7,600$8,250 Capital $83,000$88,000\begin{array} { | l | l | l | } \hline & \text { Last Year } & \text { This Year } \\\hline \text { Output } & 10,500 \text { units } & 12,100 \text { units } \\\hline \text { Labour Hours } & 12,000 & 13,200 \\\hline \text { Utilities } & \$ 7,600 & \$ 8,250 \\\hline \text { Capital } & \$ 83,000 & \$ 88,000 \\\hline\end{array} Output Labour Hours Utilities Capital Last Year 10,500 units 12,000$7,600$83,000 This Year 12,100 units 13,200$8,250$88,000 Has Martin Manufacturing improved its productivity during the past year?
On Jun 16, 2024
Productivity improved in all three categories this year; utilities showed the greatest increase, and labour the least.
Resource Last Year This Year Change Pct. Change Labour 10500/12000=12100/13200=0.90.044.8%0.88 Capital 10500/7600=1.3812100/8250=1.470.096.2% Energy 10500/83000=0.1312100/88000=0.140.017.69%\begin{array}{|l|l|l|l|l|}\hline\text { Resource } & \text { Last Year } & \text { This Year } & \text { Change } & \text { Pct. Change } \\\hline\text { Labour } & 10500 / 12000= & 12100/13200=0.9&0.04&4.8\% \\&0.88\\\hline\text { Capital } & \begin{array}{l}10500 / 7600= \\1.38\end{array} & 12100 / 8250=1.47 & 0.09 & 6.2 \% \\\hline \text { Energy } & \begin{array}{l}10500 / 83000= \\0.13\end{array} & 12100 / 88000=0.14 & 0.01 & 7.69 \%\\\hline\end{array} Resource Labour Capital Energy Last Year 10500/12000=0.8810500/7600=1.3810500/83000=0.13 This Year 12100/13200=0.912100/8250=1.4712100/88000=0.14 Change 0.040.090.01 Pct. Change 4.8%6.2%7.69%
Resource Last Year This Year Change Pct. Change Labour 10500/12000=12100/13200=0.90.044.8%0.88 Capital 10500/7600=1.3812100/8250=1.470.096.2% Energy 10500/83000=0.1312100/88000=0.140.017.69%\begin{array}{|l|l|l|l|l|}\hline\text { Resource } & \text { Last Year } & \text { This Year } & \text { Change } & \text { Pct. Change } \\\hline\text { Labour } & 10500 / 12000= & 12100/13200=0.9&0.04&4.8\% \\&0.88\\\hline\text { Capital } & \begin{array}{l}10500 / 7600= \\1.38\end{array} & 12100 / 8250=1.47 & 0.09 & 6.2 \% \\\hline \text { Energy } & \begin{array}{l}10500 / 83000= \\0.13\end{array} & 12100 / 88000=0.14 & 0.01 & 7.69 \%\\\hline\end{array} Resource Labour Capital Energy Last Year 10500/12000=0.8810500/7600=1.3810500/83000=0.13 This Year 12100/13200=0.912100/8250=1.4712100/88000=0.14 Change 0.040.090.01 Pct. Change 4.8%6.2%7.69%
AC
Answered
The monopolistically competitive seller maximizes profit by producing at the point where
A) total revenue is at a maximum.
B) average costs are at a minimum.
C) marginal revenue equals marginal cost.
D) price equals marginal revenue.
A) total revenue is at a maximum.
B) average costs are at a minimum.
C) marginal revenue equals marginal cost.
D) price equals marginal revenue.
On May 19, 2024
C
AC
Answered
Motivation consists of two elements. The first is the decision about which behaviors to engage in and the second element is the decision about:
A) which behaviors to not engage in
B) how much status the behavior will bring you
C) what you will gain from this behavior
D) how much effort to expend on this behavior
E) will your supervisor be aware of this behavior
A) which behaviors to not engage in
B) how much status the behavior will bring you
C) what you will gain from this behavior
D) how much effort to expend on this behavior
E) will your supervisor be aware of this behavior
On May 17, 2024
D