Omega Custom Cabinets Produces and Sells Custom Bathroom Vanities

question 1

Multiple Choice

Omega Custom Cabinets produces and sells custom bathroom vanities. Assume that labor is the only input that varies for the firm. The firm has determined that if it hires 10 workers, it can produce and sell 20 vanities per week. If it hires 11 workers, it can produce and sell 22 vanities per week. It sells each vanity for $800, and it pays each of its workers $1,000 per week. Which of the following is correct?

• A)For the 11th worker, the marginal profit is $600.
• B)For the 11th worker, the marginal revenue product is $2,000.
• C)The firm is maximizing its profit.
• D)If the firm is employing 11 workers, then its profit would increase if it cut back to 10 workers.

Understand and calculate capacitance in RC circuits.

Understand the calculation of impedance (Z) in an RC parallel circuit.

Calculate the current through resistors (IRS) in RC parallel circuits.

Calculate the total current (ITS) in RC parallel circuits.

---

Definitions:

Alternatives Sequentially

The process of considering and evaluating different options one after another in a systematic order.

Mental Models

Internal representations of the external world that individuals use to understand and interact with their environment.

Emerging Problems

New or upcoming challenges that are not yet fully understood or recognized.

Subjective Expected Utility

A decision-making process that evaluates the desirability of different outcomes based on the individual's subjective assessment of their likelihood and value.