Hamburger Co has determined that their lowest total cost production technology is $460. If machines cost $100 and workers cost $40 what number of workers produces this cost of production, assuming Hamburger Co has already determined it will purchase 3 machines?

4 workers

Explanation:

The cost that Hamburger Co can incur at this time is $460.

When producing the total cost is equal to fixed cost less variable cost.

Fixed cost includes nonmoveable assets that assist in production, such as machinery. The cost is fixed.

Variable costs are those costs that change in the course of production and can be varied depending on need.

Total cost = Fixed cost + variable cost

460= (3*100)+ variable cost

Variable cost= 460- 300= $160

Number of worker= Variable cost/ cost of each worker

Number of worker= 160/40= 4 workers

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know