You have been hired by a small (but growing!) wine vineyard to serve as their ne

Question

You have been hired by a small (but growing!) wine vineyard to serve as their new Economic Consultant. When you arrive to work on your first day, unfortunately you observe that all the records and receipts from the previous years are randomly thrown onto various piles of paper throughout your office. It appears as if the last person to have this job enjoyed the perks of the job a bit too much. Use the following information to address problems/issues that are present at the vineyard After finding a few random receipts and works orders, you are able to determine a few key pieces of information: The vineyard makes wine in batches. One batch is equal to 50 bottles. The cost for grape seeds is $0.0025 (a quarter of a penny) for enough seeds to cover 1 sq ft. Each bottle of wine uses approximately 500 sq. ft. of grapes. Labor needs expand with production. For one batch of wine, you have employed 8 people. For each additional batch of wine you produce, you are able to add fewer and fewer workers. The number of new laborers you add to the work crew is equal to 9-Q For example, you have 8 workers for Batch #1 and add 7 (9-2) for a second batch, add 6 more for Batch #3, etc , each laborer is paid a flat rate of $750 for the time period required to make a bottle The bottling machine costs $800 per period for the lease and approximately $0.25 per bottle for the cost of the cork and the electricity used to operate the machine Transportation costs are $1.15 for each bottle The tax for a bottling license is $0.07 per ounce of wine you bottle. Each bottle contains 25.4 ounces. The state forces you to count tenths of an ounce in the tax calculation. The owner is the manager of daily operations and is paid $1500 per time period The lease for the land used by the vineyard equates to $2,000 for the time period.

Explanation / Answer

Ans The correct option is b

Ans The correct option is c

Ans The correct option is a

Ans The correct option is d

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