Question
In: Economics
2. Walmart can use either self-service check out machines or cashiers to process customer purchases. For...
2. Walmart can use either self-service check out machines or cashiers to process customer purchases. For Walmart, self-service checkout machines and cashiers are perfect substitutes. Suppose that self-service checkout machines can process the purchases of 100 customers per hour and that a cashier can process the purchases of 60 customers per hour. Suppose that the price of operating a self-service checkout machine is 20 dollars per hour and that cashiers are paid an hourly wage of 10 dollars per hour. Answer the following questions:
a) Write down Walmart’s production function for processing customers’ purchases.
b) What is Walmart’s demand for cashiers given the production technology and input prices?
c) What is Walmart’s demand for self-service check out machines given the production technology and input prices?
d) How much will it cost Walmart to process the purchases of 400 customers in an hour?
e) Suppose the minimum wage for workers is increased to 15 dollars per hour. What is the cost to Walmart of processing 400 customers in a hour?
Solutions
Rahul Sunny answered 8 months agoRelated Solutions
Self-check-in and self-check-out saves guests time and can be very appealing to them, however, some hotels...
Self-check-in and self-check-out saves guests time and can be
very appealing to them, however, some hotels believe that guests
prefer to interact with hotel staff during their registration and
departure. Discuss your position on this matter and how your
perspective may change depending on the type of hotel or type of
guest involved.
How can I make a method to check out a customer given their name and booking...
How can I make a method to check out a customer given their name
and booking number in Java.
I have provided the Book class as well as the customer class. I
have done the method to add a customer into the array however im
failng to implement a method that checks out the customer.
If you need more classes associated with the system please let
me know ASAP and I will provide them,
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public class Book{
String...
A department store supervisor is concerned about customer service. To check if this is an issue,...
A department store supervisor is concerned about customer
service. To check if this is an issue, the supervisor randomly
selected a sample of clerks from stores at three different
locations (A, B, C). Then the supervisor records the number of
returns associated with each clerk for a month. What can the
supervisor conclude with an α of 0.05?
A
B
C
8
10
7
9
11
12
14
10
8
10
7
10
Conduct Tukey's Post Hoc Test for the...
Out of 10 customers- Customer A purchases the most products from a company but is not...
Out of 10 customers- Customer A purchases the most products from
a company but is not the most profitable for the company (Customer
B is the most profitable out of the 10 customers), what concerns
might you have from an audit perspective?
A customer reports that recently several files cannot be accessed. The service technician decides to check...
A customer reports that recently several files cannot be
accessed. The service technician decides to check the hard disk
status and the file system structure. The technician asks the
customer if a backup has been performed on the disk and the
customer replies that the backup was done a week ago to a different
logical partition on the disk.
What should the technician do before performing diagnostic
procedures on the disk?
What are the next possible steps?
How likely do you think it is that self-service will become the dominant mode of customer...
How likely do you think it is that self-service will become the
dominant mode of customer problem resolution in the near or distant
future? Support your answer with facts and examples from the
text.
Joe’s Tree Service bought new machines 3 years ago for $600,000. The machines can be sold...
Joe’s Tree Service bought new machines 3 years ago for $600,000.
The machines can be sold today to his brother’s company Sam’s Tree
Service for $430,000. Joe’s current statement of financial position
show next fixed assets of $380,000, current liabilities of
$720,000, and net working capital of $250,000. If all Joe’s assets
were liquidated today he would receive $1M.
a. What is the book value of Joe’s company?
b. What is the market value of Joe’s company?
SHOW YOUR WORK.
Mayfair Co. allows select customers to make purchases on credit. Its other customers can use either...
Mayfair Co. allows select customers to make purchases on credit.
Its other customers can use either of two credit cards: Zisa or
Access. Zisa deducts a 6.5% service charge for sales on its credit
card. Access deducts a 5.5% service charge for sales on its card.
Mayfair completes the following transactions in June.
June
4
Sold $700 of merchandise on credit
(that had cost $350) to Natara Morris terms n/30.
5
Sold $10,000 of merchandise (that
had cost $5,000) to...
Mayfair Co. allows select customers to make purchases on credit. Its other customers can use either...
Mayfair Co. allows select customers to make purchases on credit.
Its other customers can use either of two credit cards: Zisa or
Access. Zisa deducts a 3% service charge for sales on its credit
card. Access deducts a 2% service charge for sales on its card.
Mayfair completes the following transactions in June.
June
4
Sold $650 of merchandise on credit (that had cost $400) to
Natara Morris terms n/30.
5
Sold $6,900 of merchandise (that had cost $4,200) to...
Mayfair Co. allows select customers to make purchases on credit. Its other customers can use either...
Mayfair Co. allows select customers to make purchases on
credit. Its other customers can use either of two credit cards:
Zisa or Access. Zisa deducts a 6.0% service charge for sales on its
credit card. Access deducts a 5.0% service charge for sales on its
card. Mayfair completes the following transactions in June.
June 4 Sold $600 of merchandise on credit (that had cost $240)
to Natara Morris terms n/30.
5 Sold $9,900 of merchandise (that had cost $3,960) to...
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