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Producing a product and/or service has to involve a lot of strategic planning for the producer. It is not logical for a producer to just pick how much they want to produce without analyzing several key figures. Explain some of the factors and/or costs that managers have to evaluate when planning for production.
Calculate cost elasticity of demand for paint and show your calculations. Decide where demand for paint is elastic, unitary elastic, or inelastic.
Assumed that each of the subsequent rows represents the choice faced by policy makers given the current set of U.S. institutions also technology.
A Post Office is set up in the Constitution but no Central Bank was. Why didn't the founders of the US who wrote the Constitution include a bank? How did this omission hamper US economic growth and, more importantly, US economic stability?
imagine a backyard garden of fixed size and all other inputs except labor also fixed ; will adding a worker increase your output? Will adding another increase output by as much? another?
Analyze the impact of this floor on price, quantity demanded and supplied. Would this price floor create a surplus or deficit of this product in the market?
illustrate what is the income-expenditure multiplier in this economy. Using at least two different quality tools, analyze the data and present your conclusions.
Keeping all elsr constant their answer would likely differ. How do you guess the interviewed will answer? Does the diference in response matter?
On the same day, the San Francisco Chronicle had an article with the headline "Sharp Drop in Bay Area Home Sales"
If the American auto companies make a breakthroufh in automobile technology and are able to produce a car that gets 70 miles to the gallon, what will happen to the value of the dollar? Use the demand-supply model of the dollar to explain.
Ellen and May can produce two goods in a day, breakfast bars and frog food pellets. In a single day, May can make 10 breakfast bars or 30 frog pellets
Identify three roles for money: money is a unit of account, a store of value also acts as a medium of exchange.
What is the difference between an economic profit and an accounting profit, give an example? 3. Discuss the difference between diseconomies of scale and diminishing returns. Based on the cost curves which is more likely in businesses?
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