Joe Schmuckatelli owns and operates a widget manufacturing plant

| April 14, 2018

Joe Schmuckatelli owns and operates a widget manufacturing plant that sells its products in local home improvement stores. The plant occupies 50 acres on the outskirts of Omaha and employs 62 workers. Give examples of each of the five factors of production in Joe’s business.3. Metro Airlines runs 10 flights per day at a total cost of $50,000, which includes $30,000 infixed costsfor airport fees, airplanes, and the reservation system and $20,000 invariable costs for flight crews, fuel, baggage handlers, and food service. If an 11th flight would have 25 passengers, each paying $100, would it make economic sense to offer the flight? If a 12th flight only drew 15 passengers, would it make sense to offer it? Discuss and show your math.

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