Estimate the cost of overhauling the fifth unit

Assignment Help Microeconomics
Reference no: EM13700891

Regional Power owns 25 small power generating plants. It has contracted with Genco services to overhaul the power turbines of each of the plants. Th number of hours that Genco billed regional to complete the fourth turbine was 460. Regional pays Genco $50 per hour for its services. Al turbines are similar and an 85% learning curve is appropriate.

Estimate the cost of overhauling the fifth unit:

5th Unit time ___ hours?

6th unit___hours? 6th unit cost $___?

7th unit__hours? 7th unit cost$__?

8ths unit__hours? 8th cost $__?

Reference no: EM13700891

Questions Cloud

Economic espionage act and definition of privacy : The Economic Espionage Act of 1996 _______. Conflicts of interest are an ethical problem for a business because they _______. Which of the following is the best definition of privacy? One of the biggest issues in consumer privacy is when _______.
Current theme in the organization is cost containment : Your co-workers are upset that the current theme in the organization is cost containment and they see that money is being spent on remodelling the emergency department, which is unable to keep up with the demand due to inadequate space. Describe how ..
Competitive advantage by offering a unique suite of products : Discuss the strategies that a particular company employed to either obtain or sustain a competitive advantage. For example, Microsoft arguably created a competitive advantage by offering a unique suite of products that now reside on many desktops. Th..
About to bid on a new radar system : Richard Dulski’s firm is about to bid on a new radar system. Although the product uses new technology, Dulski believes that a learning rate of 80% is appropriate. The first unit is expected to take 720 hours, and the contract is for 45 units.
Estimate the cost of overhauling the fifth unit : Regional Power owns 25 small power generating plants. It has contracted with Genco services to overhaul the power turbines of each of the plants. Th number of hours that Genco billed regional to complete the fourth turbine was 460.
Distinction between safety-health is based on distinction : The distinction between safety and health is based on the distinction between _______. Employers can defend themselves from responsibility for a workplace accident by claiming that _______. The requirement of truthful labeling is an instance of the m..
Proponents of zero inflation argue that even mild inflation : Proponents of zero inflation argue that even mild inflation (1 to 3 percent) reduces the economy's real output.  Do you agree or disagree with this assessment? Why?
Recurrent ups-downs in level of economic activity extending : The recurrent ups and downs in the level of economic activity extending over several years are referred to as business cycles. What are the phases of this cycle and describe what occurs in each phase?
The one-period cournot-nash equilibrium output and price : Suppose two firms supply the market for computer chips and their products are perfect substitutes. The firms choose what quantity to produce independently, i.e. compete as Cournot. The market inverse demand is described by p = 120-20Q, Q measured in ..

Reviews

Write a Review

 

Microeconomics Questions & Answers

  1 the profitability of the leading cola syrup manufacturers

1. the profitability of the leading cola syrup manufacturers pepsico and coca-colaand of the bottlers in the cola

  Rule for optimal input usage

According to the rule for optimal input usage, a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the company.

  Find the unemployment rate in the economy

Suppose that the matching function is given by: M = em(Q, A) = eQ^(0.7)A^(0.3) Express pc and pf as functions of e and labor market tightness j. Suppose that z = 1, b = 0.4, e = 0.9 and k = 0.24. Suppose that w = 0.75 Find the unemployment rate in th..

  What is the future worth of the project

Normal 0 false false false EN-US X-NONE X-NONE A project has a first cost ..

  What would happen to the equilibrium price

What would happen to the equilibrium price and quantity of lattes if the cost to produce steamed milk, which is used to make lattes, increased, and scientitsts discovered that lattes cause heart attacks

  Label the price charged and the deadweight loss to society

Suppose that a natural monopolist was required by law to charge average total cost. On a diagram, label the price charged and the deadweight loss to society relative to marginal cost pricing. Briefly explain your diagram and comment on the results..

  Demand curve facing an individual firm and the reason

Carefully explain what will happen as we move from the short run to a long run equilibrium in a monopolistically competitive industry if firms are making a positive profit in the short run. Your explanation should clearly state what will happen to th..

  The effect on the equilibrium quantity of movies is

If the demand for movies increases at the same time as the movie industry adopts labor-saving technology for producing movies, the equilibrium price for movies will increase, but the effect on the equilibrium quantity of movies is ambiguous. is this ..

  Sanjay likes his job so much that he would be willing to do

Gordon lists his old Lionel electric trains on eBay. He sets a minimum acceptable price, known as his reserve price, of $75. After five days of bidding, the final high bid is exactly $75. He accepts the bid.

  Draw two cost functions on the graph

Now suppose that x 2 is also free to vary. Derive the demands for the inputs and the long-run cost function of the firm - Draw the two cost functions on the graph. Do they cross? Which one lies higher?

  Find out whether or not government regulation to ensure

assume that the low-calorie frozen microwavable food company from assignments 1 and 2 wants to expand and has to make

  A monopolistically competitive firm chooses its

A monopolistically competitive firm chooses its

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd