Amy is a stay-at-home parent who lives in Dallas and does some consulting work for extra cash. At a wage of $50 per hour, she is willing to work 7 hours per week. At $65 per hour, she is willing to work 10 hours per week.
Using the midpoint method, the elasticity of Amy’s labor supply between the wages of $50 and $65 per hour is approximately , which means that Amy’s supply of labor over this wage range is .

During the holiday season, maria's department store works with a contracted employment agency to bring extra workers on board to handle overflow business, and extra duties such as wrapping presents. maria's is using during these rush times.

As a general rule, when accountants calculate profit they account for explicit costs but usually ignorea. certain outlays of money by the firm.b. implicit costs.c. operating costs.d. fixed costs.

Draw a flowchart for a process of interest to you, such as a quick oil-change service, a factory process you might have worked in, ordering a pizza, renting a car or truck, buying products on the internet, or applying for an automobile loan. identify the points where something (people, information) waits for service or is held in work-in-process inventory, the estimated time to accomplish each activity in the process, and the total flow time. evaluate how well the process worked and what might be done to improve it.