Heavenly Bubbles Is a Small Soap Company Whose Main Product

question 50

Essay

Heavenly Bubbles is a small soap company whose main product is hand soap,which sells in a competitive market for $3 a bar.The output per hour of each workstation varies with the amount of labour used as the data in the table below indicates.Labour costs $12 and hour
a)Fill in the marginal product,total revenue I and marginal revenue I columns in the table above.
b)How many workers would the firm assign to each workstation?
c)Now assume that the wage rate increases to $16 an hour.How many workers should the firm now assign to each workstation?
d)Suppose the price of each bar increases to $4 each.Fill in the total revenue II column and marginal revenue product II in the table above to reflect this change.
e)Now how many workers would the firm assign to each workstation at a wage rate of $16?

Understand the concepts of Likert and semantic differential scales and their application in measuring human communication.

Know the significance of a "true" zero in ratio-level measurement.

Understand the importance of measurement scales in attempting to quantify abstract concepts.

Recognize the significance of data categorization in research.

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Definitions:

Elder

Refers to an individual of a greater age, often known for wisdom and leadership within a community or family.

Collateral Sources

Alternative or secondary sources of information or finance that can be used when primary sources are unavailable.

Applied Psychology

The field of psychology concerned with applying psychological principles and research to solve practical problems in human behavior and experience.

South Africa

A country located at the southern tip of Africa, known for its diverse cultures, languages, and significant historical contexts.