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A business owner used a revenue function and a cost function to analyze his monthly sales. One month he found that with a sales volume of 600 items he had revenues of $10,200. Another month he had total costs of $4,700 on a sales volume of 400 items. He also finds that the break-even point is 50 items. a. Find the revenue function. b. Find the cost function. Explain step by step
Technological progress occurs when the economy gets more output, An increase in the capital stock will, Increases in net investment generally result in, To determine the change in the capital stock, the level of new investment must be adjusted for de..
There is significant disagreement whether a dependable positive correlation (relationship) exists between incentive pay and individual employee productivity. Question is what causes you to come down on one side or the other on this issue?
What policy options does a government have at its disposal to fight a recession without increasing the country’s foreign indebtedness?
What is the underground economy? What is the impact on the underground economy of instituting a tax on a certain productive activity?
1. suppose a consumers preferences are represented by the utility function u minx4y. the price of y is py 2 and the
New Horizons Airlines wants to forecast the mean number of unoccupied seats per flight to Germany next year.To develop this forecast, the records of 49 flights are randomly selected from the files for the past year, and the number of unoccupied sea..
1.what do you understand by the following terms? explain using formulae diagrams and examples. what are the
Suppose a country can produce a maximum of 20,000 jumbo airliners or 2,000 aircraft carriers. ( a ) What is the opportunity cost of an aircraft carrier? ( b ) If another country offers to trade six planes for one aircraft carrier, should the offer be..
the airline market was deeply impacted by the recession of 2008 and by the following slow recovery. describe
A simple random sample of size n = 210 is drawn from a population. The sample mean is found to be over bar above x = 20.1, and the sample standard deviation is found to be s= 3.2. Construct a 90 percent confidence interval for the population mean.
should owners use market research when making decisions about starting or expanding a business POLICY MAKER 1.Government policymakers may be elected politicians or appointed experts. Describe some of the specific decisions made by policymakers that..
1)How does a high rate of inflation affect money in all its different roles?
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