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Q. Pickles at the Sour Pickles Ranch are picked either by labor or by a machine. Labor can be obtained very cheaply - the going rate is $8 per hour, while the cost of using a machine for one hour is $32. The ranch is currently using only labor to pick pickles on an 800 acre farm. On average each worker can pick approximately 4 bushels of pickles per hour, while the additional pickles contributed by a pickle-picking machine are 40 bushels per hour. You have already determined that the machine is more efficient than labor, if SPR decides to take your recommendation and use a machine to pick pickles and eliminate all of its work force (labor), Illustrate what would be the cost saving of this change?
Suppose the owner of the trawler can sell al the fish caught for $75 every 100 pounds also can hire a man crew members as desired by paying them $150 every week.
Illustrate what will the average total cost be after 1 unit is produced. Elucidate what impact does the dollar appreciation have on the firm's international competitiveness.
Consider the following Demand equation that represents Demand for goods to your company produces q=100-2p. Total cost of production is cq. Given to your company's objective is to maximize profit
Suppose that the demand for healthcare services is perfectly inelastic while the supply curve is upward sloping. Analyze the impact.
Elucidate the difference between tariffs and quotas. Who is harmed and who benefits by this restriction on trade.
By using calculus show that the production function exhibits diminishing returns to labor.
A also the new allocation B. Include indifference curves that is consistent with this trade being optimal for both Michael also Tony.
May be imposed either to raise revenue (revenue tariffs) or to shield domestic producers from foreign competition (protective tariffs).
q. answer the following question using the keynesian model of a closed economy. suppose the federal government would
Now discuss the fact that deflation is the central bank's worst nightmare. Make sure you refer to a real interest rate of -2.68%. Why is this environment such a nightmare for the central bank and monetary policy?
q1. suppose your elasticity of demand for your parking lot spaces is -2 and the price is 8 per day. if your mc is zero
What is a socially responsible effort? Social responsibility comes from the belief that people, governments, and organizations have a responsibility to the greater welfare of society
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