You have been hired by the no hassle collection agency to provide economic advice. the owner of the agency tells you that no hassle's only variable input is the number of collection agents. the hourly wage for collection agents is $40.00. the marginal revenue product curve for collection agents reaches its maximum at five workers with a marginal revenue product of $34.00. what advice would you give this firm?

a. shut down immediately, as the firm is not able to cover all of its variable costs.
b. produce as much as possible so as to maximize the difference between the wage paid to collection agents and their marginal revenue product.
c. hire five collection agents so as to minimize the amount of money the firm will lose.
d. increase the wage rate paid to collection agents so that their marginal revenue product will increase.

Balance sheet baggett company's balance sheet accounts and amounts as of december 31, 2016, are shown in random order as follows: account debit (credit) account debit (credit) income taxes payable $(3,800) additional paid-in capital on preferred prepaid items 1,800 stock $(7,900) additional paid-in capital on common stock (9,300) allowance for doubtful accounts (1,600) land 12,200 bonds payable (due 2020) (23,000) notes payable (due 2019) (6,000) buildings 57,400 notes receivable (due 2018) 16,400 sinking fund to retire bonds payable 5,000 accounts receivable 12,600 advances from customers (long-term) (2,600) premium on bonds payable (1,400) cash 4,300 accounts payable (13,100) accumulated depreciation: equipment (9,700) inventory 7,400 retained earnings (18,300) accumulated depreciation: buildings (21,000) preferred stock, $100 par (18,600) patents (net) 4,600 wages payable (1,400) equipment 28,700 common stock, $10 par (12,700) required: 1. prepare a december 31, 2016 balance sheet for the baggett. baggett company balance sheet december 31, 2016 assets current assets: $ $ $ long-term investments: $ property, plant, and equipment: $ $ $ intangible assets: liabilities current liabilities: $ $ long-term liabilities: $ $ other liabilities: shareholders' equity contributed capital: $ $ $ $ 2. compute the debt-to-assets ratio. round to one decimal place. do not enter a percent sign (%) as part of your answer. %

Which of the following is not a factor to consider when deciding whether to accept a special order? whether this order will hurt the brand name of the company whether other potential orders would be more profitable whether additional fixed costs would need to be incurred whether the offered price is sufficient to cover prime costs and fixed overhead allocated all of the above

Donna and gary are involved in an automobile accident. gary initiates a lawsuit against donna by filing a complaint. if donna files a motion to dismiss, she is asserting that