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Barry, a Texas Crude Company engineer who did not take Engineering Economy while studying at Tech, recommended that Texas Crude purchase a special tool to reduce the cost of pumping oil out of the bayous of St. Martin Parish. As a result of Barry's recommendation, Texas Crude purchased the tool for $30,000 on January 1, 2005. By January 1, 2006, the tool had saved a total of $5,000 and went on line full time. After going on line full time, the tool saved Texas Crude $9,000 each year for the next three years and Barry was happy. However, Barry recommended the "el-cheapo" model, and it started breaking down during the early part of year five, and ended up by saving only $4,000 during year five. It was scrapped as being unusable at the end of year five, and had a zero salvage value. Barry told his boss that his recommendation had been correct, as it had saved Texas Crude $6,000 and that is a savings of 20%. Use a MARR of 10% and evaluate the effectiveness of the tool and the correctness of Barry's recommendation.
Assume that the price of silk ties in a perfectly competitive market is $19 and that the typical firm confronts the following costs: Quantity (ties per day) 0 1 2 3 4 5 6 7 8 9 10, Total cost $10 $17 $26 $37 $50 $65 $82 $101 $122 $145 $170
What is the minimal wage that must be offered to Yumi for her to sign this new wage contract and what is Yumi's expected revenue when she works hard? What is Yumi's expected revenue when she does not work hard?
If the merged firm were able to exploit economies of scale it would affect costs, may be even marginal costs. Assume the marginal cost of the merged firm was not 40, but 30. Is the merger profitable in this case?
Externalities are third party consequence of some other action. They can be positive or negative externalities and they impose a benefit or cost to a third party.
As an worker of World Bank, you have been tasked to research one economic concern in an Asian nation and write a report on your findings.
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
How responsive to demand is each in the market period and describe what a manufacturer of each product might do in the short run to increase production.
As a manager of a financial considering business you have two financial planners, Phil and Francis. In an hour, Phil can make either one financial statement or answer ten phone calls,
Calculate output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level and calculate these values at the profit-maximizing activity level. Explain your answers briefly
Assume that the demand and supply curves for broccoli in the United States market are given by:
Which of following industries would you classify as an oligopoly? Which would you classify as monopolistically competitive? Explain your answer.
Assume the reserve ratio is 20%.If the lending process continues as far as it can possibly go, how many deposit dollars will be created from this initial $1000 deposit?
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