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The Oneill shoe Manufacturing Company will produce a special style shoe if the order size is large enough to provide a reasonable profit. For each special style order the company incures a fixed cost of $2,000 for the production set up. The VC is $60 per pair and the sell for $80 per pair.
a. let x indicate the number of pairs of shoes produced. Develop a mathmatical model for the total cost of producting x pairs of shoes.
b. Let P indicate total profit. Develop a mathmatical model for the total profit realized from an order for x pairs of shoes.
c. What is the break even point?
refer to the following matrix, where each entry shows the level of utility attained by group members from following a particular strategy. Cooperate Shirk Cooperate 10,8 5,4 Shirk 6,10 8,7 If there is as..
The income tax system in a country requires each citizen to pay 10% of income on earnings up to $40,000, and then pay 20% on any earnings over $40,000. If an individual has an income of $92350, then what is his average tax rate, in percentage term..
Home, Sweet Home. Suppose Ms. Profligate and Mr. Discipline both purchase identical $185,000 homes in Marietta, GA on January 1, 2012. They both have good credit and qualify for a loan with no down payment and 4.8% financing.
Industry A is composed of five large firms and 100 small firms. The market shares of the five largest firms are, respectively, 30, 25, 20, 15, and 10. The 100 small firms together have the remaining market share. Calculate the Herfindahl-Hirshman ..
Andre walks Julia's dog once a day for $50 per week. Julia values this service at $60 per week, while the opportunity cost of Andre's time is $30 per week. The government places a tax of $35 per week on dog walkers. Before the tax, what is the tot..
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two individuals chip and holly are stranded on an island. the island has plenty of vegetation. chip and holly can spend
Suppose that there are 80 firms in a market, each with the following cost function: C(q) = 100 + 4q^2 A.) Derive the short-run market supply curve. B.) Suppose the market demand is Qd= 1280 - 30P Find the equilibrium market quantity and price.
Currently there are zero excess reserves in the U.S. banking system. If the required reserve ratio is 20 percent and the Fed sells 20 million in bonds, the maximum amount that the money supply can change is what
1. The three fundamental economic questions of what, how, and for whom: a-exist because of scarcity. b-are much more serious in a socialist system. c-are not serious in a capitalistic system. d-are not relevant in the industrialized world of today.
Discuss a famous person, past or present, who you consider to be an example of a creative person in your field and discuss why.
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