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You have been asked to estimate the cost of 100 prefabricated structures to be sold to alocal school district. Each structure provides 1000 square feet of floor space, with 8-feet ceilings.In 1999, you produced 70 similar structures consisting of the same materials and having the sameceiling height, but each provided only 800 square feet of floor space. The material cost for eachstructure was $25000 in 1999, and the cost capacity factor is 0.65. The cost index values for 1999and 2005 are 200 and 289, respectively. The estimated manufacturing cost for the first1000-square-foot structure is $12000. Assume a learning curve of 88% and use the cost of the50th structure as your standard time for estimating manufacturing cost. Estimate the total material cost and the total manufacturing cost for the 100 prefabricated structures. (3.3,3.4)
In what direction would the shift in labor supply and demand go. Illustrate what would be its effect on the equilibrium of the labor market.
A firm produces according to the following production function: Q=k^.5L^.5 where q= units of output, k= units of capital, and L= units of labor. suppose that in the short run k=100. moreover, wage of labor is w=5 and price of the product is p=10. wha..
Explain how many hours of work is the consumer working. What is her income.
Construct a production possibilities curve for a hypothetical country. Put public capital goods per year on the bertical axis and consumer goods per year on the horizontal axis.
Which of the following goods or services would be most likely to be subject to (1) external economies of scale and (2) dynamic increasing returns? Describe your answers.
If the economy characterized by the production possibilities table were producing 3 automobiles and 20 forklifts, what could you conclude about its use of available resources ?
Because the structure of the personal income tax is progressive, a larger share of income is taxed at higher rates as real income increases. Therefore, economic growth automatically results in higher taxes unless offsetting legislative action is d..
Summarize an article using at least three economic terms and theories covered in class. Identify the impact of the policy on Demand or Supply of the good(s) or service(s). Discuss the change(s).
Suppose you produce one more pair at a marginal cost of $20. If you do produce that fifth pair of shoe, what will your average total cost be. has your average total cost increased or decrease. why.
Suppose that an increase in jewellery demand induces a a surge for in the demand for gold. Using diagrams from part a show what happens in the short run to the gold market and to each existing gold mine.
By how much has total M1 in the country changed by this transaction alone?
1.nbspnbsp briefly define the following termsa.nbspnbspnbsp potential gdpb.nbspnbspnbsp long-run aggregate
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