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Little Bikes, Inc., sells tricycles, in partially-assembled and fully assembled forms. Parents who assemble their own tricycles benefit from the lower price of $40 per tricycle. "Full-service" customers enjoy the luxury of an assembled tricycle, but pay a higher price of $60 per tricycle. Both partially and fully assembled tricycle prices are stable. The company has observed the following relation between the numbers of assembly workers employed per day and assembled tricycle output:
Number of Workers per Day
Finished Tricycles
0
1
8
2
14
3
18
4
21
5
23
How many assemblers would Little Bikes employ at a daily wage rate of $100? What is the highest daily wage rate Little Bikes would pay to hire 3 assemblers per day?
When on leave, workers receive 55% of their normal paya. Illustrate what are the likely responses on the demand (employer) side of the market.
In 2008, the Board of Directors and shareholders of Anheuser Busch agreed to be acquired by a Belgian Brewer (InBev). Prior to the merger, InBev made many pledges to AB regarding how the company would operate after the merger, how its employees would..
Assume an economy with a coal producer, a steel producer, and some consumers (there is no government). In a given year, the coal producer produces 15 million tons of coal and sells it for $ 5 per ton. The coal producer pays $ 50 million in wages to c..
You just graduated college and want to celebrate by buying a new car. The car you like can be purchased for $35,000. Your old college clunker is worth $4,000 on a trade. The dealer is offering 0.9% per year financing on the entire purchase price. Wha..
The White Company is a member of the lamp industry, which is perfectly competitive. The price of a lamp is $50. The rm's total cost and marginal cost functions are: What is the rm's economic pro t at this out- put? What is the rm's average cost at th..
Explain the debate on equal rights, especially as related to marriage, for gay men and lesbians continues. Would you classify this as an issue or as a problem.
Consider which stage of Maslow's Hierarchy of Needs you are most likely in that drives a lot of your purchase decisions. Are those purchases consistent with this stage? As noted in the topic, a person could be at different levels in Maslow's Hierarch..
The market demand for a product is given by: Q= 300 - 5P + Y. Where why is average consumer income? The current level of income is 200. What is the price elasticity of demand if the price of the good is $20.00?
In looking at GDP we see that not all aspects are counted. Do you find that the items like buying a home or a used car should be counted in GDP?
Why are incomes so much more unequal within poor nations that within rich nations generally
what combination of coal-fired plants and gas-fired plants would minimize construction costs.
The following data describe the current conditions in the Money Market. Amount of Money Supplied $100 billion $200 billion $300 billion $400 billion $500 billion $600 billion $700 billion. What happens in this economy if the Amount of Money Supplied ..
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