The information indicates that you are willing to drive downtown for at least $30. You will save more than that by driving downtown when these items are on sale. AACSB: Analytic Blooms: Apply Difficulty: 3 Hard Learning Objective: 01-03 Discuss three important pitfalls that occur when applying the Cost-Benefit Principle inconsistently. Topic: Three Important Decision Pitfalls 114. You own a pizza shop called "Pizzas'R' Us". Currently you are paying your cooks an hourly wage of $20. You sell a medium pizza for $10. By hiring more cooks, you can increase your pizza production as shown in the following table. What is the total cost per day of hiring 3 cooks if they work 8 hour shifts? At $20 per hour, an 8 hour day is $160. For 3 the total is $480. Analytic Blooms: Apply Difficulty: 3 Hard Learning Objective: 01-03 Discuss three important pitfalls that occur when applying the Cost-Benefit Principle inconsistently. Topic: Three Important Decision Pitfalls 115. You own a pizza shop called "Pizzas'R' Us". Currently you are paying your cooks an hourly wage of $20. You sell a medium pizza for $10. By hiring more cooks, you can increase your pizza production as shown in the following table. What is the dollar value of total production during an 8-hour shift if you hire 2 cooks? Two cooks make 7 pizzas per hour, or 56 pizzas in 8 hours. Each pizza sells for $10, so the value of their production is $560.
The information indicates that you are willing to drive downtown for at least $30. You will save more than that by driving downtown when these items are on sale. AACSB: Analytic Blooms: Apply Difficulty: 3 Hard Learning Objective: 01-03 Discuss three important pitfalls that occur when applying the Cost-Benefit Principle inconsistently. Topic: Three Important Decision Pitfalls 114. You own a pizza shop called "Pizzas'R' Us". Currently you are paying your cooks an hourly wage of $20. You sell a medium pizza for $10. By hiring more cooks, you can increase your pizza production as shown in the following table. What is the total cost per day of hiring 3 cooks if they work 8 hour shifts? At $20 per hour, an 8 hour day is $160. For 3 the total is $480. Analytic Blooms: Apply Difficulty: 3 Hard Learning Objective: 01-03 Discuss three important pitfalls that occur when applying the Cost-Benefit Principle inconsistently. Topic: Three Important Decision Pitfalls 115. You own a pizza shop called "Pizzas'R' Us". Currently you are paying your cooks an hourly wage of $20. You sell a medium pizza for $10. By hiring more cooks, you can increase your pizza production as shown in the following table. What is the dollar value of total production during an 8-hour shift if you hire 2 cooks? Two cooks make 7 pizzas per hour, or 56 pizzas in 8 hours. Each pizza sells for $10, so the value of their production is $560.
Test-Bank-for-Principles-of-Macroeconomics-5th-Edition-by-Frank.docx