Saphire company budgeted the following production in units for the second quarter of the year: april45,000may38,000june42,000each unit requires one pound of raw material. saphire's policy is to have 30% of the following month's production needs for materials in inventory. a) raw materials purchases budgeted for may in pounds equal: a) 39,200b) 45,600c) 50,600d) 42,900b) desired beginning inventory for june in pounds equals: a) 9,575b) 12,600c) 10,500d) 11,400

What is the most important factor that affects the value of a company? a) cash flow b) earnings c) supply and demand d) number of employees

Which of the following explains why the government sets a required reserve ratio for private banks? a. to allow the government to control the interest rate charged on loans. b. to prevent banks from printing too much money and causing inflation. c. to make sure banks don't run out of money when customers make withdrawals. d. to enable the regulation of risk levels in the decision process of offering loans. 2b2t

Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a.what is the firm’s labor demand function? b.if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c.now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]