A Metal Works Fabricator Is About to Release a New

question 39

Essay

A metal works fabricator is about to release a new model of his firm's copper sculpture and fountain. The operations manager estimates that this product is subject to a 90 percent learning curve on labor only-the material bill is not affected by experience. The firm prices its work based on cost-the sum of materials plus 30 percent and labor plus 50 percent. (This allows the firm to practice a form of "demand management" for its very popular works.) The first item has already been finished; the material bill was $800 and labor totaled 40 hours. The firm pays its metalworking artisans an average of $18 per hour. What should be the asking price of the first unit? The second?

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Definitions:

Leaf Like

Descriptive of structures or shapes that resemble the form or function of a leaf.

Anther

The part of a flower's stamen that contains the pollen, which is crucial for plant reproduction through pollination.

Pollen Grains

Microscopic particles produced by the male structures of seed plants, responsible for carrying the male gametes to the female structure for fertilization.

Ovary

(1) In animals, one of the paired female gonads responsible for producing eggs and sex hormones. (2) In flowering plants, the base of the carpel that contains ovules; ovaries develop into fruits after fertilization.