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- b. Manton Bakery is a company that bakes bread. Here is the relationship between the number of workers at the bakery and Manton's output in a given day: Workers 0 1 2 3 4 5 6 7 Output loaves 0 20 50 90 120 140 150 155 Marginal Total Average Product Cost Total Cost Marginal Cost (i) Fill in the column of marginal product. What pattern do you see? How might you explain it? (ii) A skilled baker costs £100 a day, and the firm has fixed costs of £200. Use this information to fill in the column for total cost. Fill in the columns for average total cost and marginal cost. What patterns do you see? (iii) Compare the column for average total cost and the column for marginal cost. Explain the relationship.2. Nimbus, Inc., makes brooms and then sells them door-to-door. Here is the relationship between the number of workers and Nimbus's output during a given day: Workers Output Marginal Product. Total Cost Average Total Cost Marginal Cost 0 0 1 20 2 50 3 90 4 120 5 140 150 7 155 (a) Fill in the column of marginal products. What pattern do you see? Why? (b) The firm's only variable cost is labor. A worker costs $100 a day, and the firm has other fixed costs of $200. Use this information to fill in the column for total cost. (c) Fill in the average total cost column (HINT: ATC TC/Q). What pattern do you see? (d) Now fill the marginal cost column (HINT: MC = ATC/AQ). What pattern do you see? (e) Compare the column for marginal product with the column for marginal cost. Explain the relationship. (f) Compare the column for average total cost with the column for marginal cost. Explain the relationship.In making managerial economic decisions, which of the following should an effective manager consider? a. the total explicit costs and revenue of the firm tb he total opportunity costs of production c. the total revenue of the firm only. d. accounting profit only
- 1. Nimbus, Inc., makes brooms and then sells them door-to-door. Here is the relationship between the number of workers and Nimbus's output during a given day: Workers 0 1 2 3 4 5 6 7 Output (Brooms) 0 20 50 90 120 140 150 155 Marginal Product (Brooms) Total Cost ($) Average Total Cost ($) Marginal Cost ($) a) Fill in the column of marginal products. What pattern do you see? How might you explain it? b) A worker costs $100 a day, and the firm has fixed costs of $200. Use this information to fill in the column for total cost. c) Fill in the column for average total cost. What pattern do you see? Now fill in the column for marginal cost. What pattern do you see? d) e) Compare the column for marginal product with the column for marginal cost. Explain the relationship. f) Compare the column for average total cost with the column for marginal cost. Explain the relationship. g) What is Nimbus's efficient scale?|The four important and dynamic primary functions of management are planning, organizing, leading, and controlling. In this assignment you will identify, describe, and differentiate the four functions. The following steps will help you prepare for your written assignment: 1. Carefully consider the four primary functions of management in the context of a business you know. You can select a car company or a hotel industry or oil company or another selected business you are familiar with. 2. Select one of the four functions of management that you consider and believe is the most important. If you believe no single function stands out, then you may select the interoperability of all four. Your Task Write a three-paragraph essay describing your chosen function, and why you rank its importance so highly. Answer and address these questions: What is the primary function you selected? How does it interact with the other functions? What would happen to "management" without your selected…As a manager which do you think should you consider accounting profits or economic profits? why?
- 6. Nimbus Ltd. makes brooms and then sells them door to door. Here is the relationship between the number of workers and Nimbus's output in a given day Average Marginal Total Total Marginal Workers Product Cost Cost Cost Output 0 20 2 50 90 4 120 5 140 6 150 7 155 Fill in the column of marginal products. What pattern do you see? How might you a. explain it? b. A worker costs $100 per day, and the firm has fixed costs of $200. Use this information to fill in the column for total cost. Fill in the column for average total cost. (Recall that ATC = TC/Q.) What pattern do c. you see? d. Now fill in the column for marginal cost. (Recall that MC = ATC/AQ.) Wh 6/8 do you see? Compare the column for marginal product and the column for marginal cost. Explain e. the relationship. f. Compare the column for average total cost and the column for marginal cost. Explain the relationship6. Nimbus Ltd. makes brooms and then sells them door to door. Here is the relationship between the number of workers and Nimbus's output in a given day Average Marginal Total Marginal Total Workers Product Cost Cost Cost Output --- 20 1 2 50 90 120 4 5 140 6 150 7 155Nimbus, Inc., makes brooms and then sells them door-to-door. Here is the relationship between the number of workers and Nimbus' output during a given day. I have completed the first two rows. Workers Output Marginal Total Average Marginal Product Cost Total Cost Cost $200 --- --- --- 1 20 20 $300 $15 $5 2 50 30 $400 $8 $3.33 90 4 120 140 6 150 7 155 Fill in the column of marginal products. What pattern do you see? How might you explain it? Hint: incorporate Diminishing Marginal Product.
- 0 Labo capit total Labors ur al product $20 FC 5 15 1 10 1 1 1 20 1 Question 6 Mr-Ali Alawi recently set a shoe manufacturing outlet. He is planning for production demand, labor requirement, fixed cost, variable cost, the revenue. He come up with the following schedule. Help him to fill up the schedule. Initially he plans to use one machine. Total fixed cost per month is expected to be $1000. The unit cost of labor is estimated to be $20. 0 25 75 100 VC=# of 150 0 100 200 300 1000 total Cost(FC+VATotal cost/ C) 100 1000 120 1000 140 1000 160 Marginal cost(MC) 400 1000 180 ATotal Product Total Revenue Profit18. Which would be an implicit cost for a firm? The cost of: A. Property insuranceB. Property tax C. Raw materialsD. Wages foregone by the owner of the firm11- Al Shaihani is a halwa manufacturer which is famous for Omani Saffron Halwa. They wanted to increase their supply of halwa for the coming month of August 2021. However, due to COVID-19 Pandemic, the only available resources they could change are the number of their workers. Determine which type of production period Al Shaihani business is facing? a. Long run b. All of these c. Short - run d. Mid-run
