-Silvio's Pizza Is a Small Pizzeria

question 270

Multiple Choice

-Silvio's Pizza is a small pizzeria. The firm's production function is shown in the table above. Suppose that Silvio's costs include only the cost of renting ovens, which is $100 per oven per week, the labor cost, $280 per worker per week, and the opportunity cost of Silvio's entrepreneurship, $1,000 per week. Suppose Silvio's kitchen currently has enough room for only one oven. If Silvio employs 3 workers, producing 200 pizzas per week is ________ in the short run and ________ in the long run.

• A) impossible; impossible
• B) impossible; possible
• C) possible; impossible
• D) possible; possible

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Definitions:

Societal Marketing Concept

A marketing approach that considers the welfare of society and the environment in addition to consumer wants and company needs.

Agave Leaves

The fleshy parts of the agave plant, used in various applications including the production of beverages like tequila and for making fibers.

Environmentally Responsible

Acting with consideration for the impact on the natural world, aiming to minimize harm to ecosystems and promote sustainability.

Intangible Concepts

Ideas or principles that cannot be physically touched or measured, but can be understood and have significance, such as freedom, justice, or love.