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You need to expand production, either in the US or in China. Currently, your average American workers produce 100 units per hour and Chinese workers produce only 16 units per hour. But your American workers will cost you $20 per hour and your Chinese workers cost you $3 per hour. a.Graph as much this information as possible as isocost and isoquant information. b.Where should you expand production? c.Looking ahead into the near future, you forecast that your American workers will cost you $25 per hour, but demand for labor in China will drive up costs per worker there to $5 per hour. How does this alter the isocost and isoquant graph? d.Given these forecasts, where should you expand production?
Show the effect of an increase in the price that the government charges for electricity.
If one defines incremental cost as the change in total cost resulting from a decision, and incremental revenue as the change in total revenue resulting from a decision, any business decision is profitable.
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An end- of- aisle price promotions changes the price elasticity of a good from - 2 to - 3. If the normal price is $ 10, what should the promotional price be?
Assume the value of equilibrium real GDP is $800 billion dollars. Assume the government increased spending by $20 billion dollars to increase real GDP.
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