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Suppose, unfortunately , your mathematics and economics professors have decide to give tests 2 day from now and you can spend only a total of 12 hours studying for exams .After some thought, you conclude that dividend your study time equally between each subject will give you an expected grade of C in each course For each addition 3 hours study time for one of the subjects, your grade will increase one letter for that subject, and your grade will fall one letter for the other subject.
a. Construct a table for the production possibilities and corresponding number of hours of study in this case. b. Plot these production possibilities data in a graph. c. Does this production possibilities curve reflect the law of increasing opportunity cost? Explain.
A can manufacturing company produces and sells three different types of cans:Versions X, Y, and Z. A high-level, simplified profit/loss statement for the company is provided here. Corporate overhead(rent, general and administrative expense,etc.) i..
Calculate what happens to the income of workers and orchard owners if the world price of apples doubles to $4. Ectenia has 200 workers who supply their?
A firm produces a product with a fully allocated average cost equal to $20. If the price elasticity of demand for the product is -5,what should the product price be set at?
Decribe how the Bank of Canada can affect interest rates and money supply in Canada. Be specific about the tools that are available to the Bank for such purposes.
Guthrie Enterprises needs someone to supply it with 230,000 cartons of machine screws per year to support its manufacturing needs over the next five years, and you've decided to bid on the contract.
Provide an example of the price discrimination for good or service which you thought it to unfair. Do you still believe that the discrimination is unjustifiable.
Suppose demand function has changed t0o Qd2 = 14-P. Find the new equilibrium price and quantity?
Describe the relation between marginal and average costs. Describe the relation between marginal and average fixed costs and between marginal and average variable costs and what best accounts for the saying "Too many cooks spoil the broth?"
What does price, average revenue and marginal revenue have in common and Firms can operate in one or more markets and not always on the same side of the market. General Motors is a buyer in the resource market and a seller in the automotive market.
Compute the profit maximizing output produced by each firm. Compute the profits earned by each firm and the cartel.
find the equilibrium price and quantity of cigarette packs and what is the price received by producers? The price paid by the consumers? The new market quantity?
HAVE THESE RATES INCREASED OR DECREASED SINCE THE SAME WEEK IN 2008? (FOR EXAMPLE, IF YOU ARE DOING THIS ASSIGNMENT ON AUGUST 18, USE THE RATE FOR THE WEEK INCLUDING AUGUST 18, 2008.)
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