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It takes a phlebotomist 15 minutes to complete a blood draw. The supplies for each draw cost $4, and the phlebotomist earns $20 per hour. The phlebotomy lab is designed to accommodate 20,000 draws per year.
What are the average and incremental costs of a blood draw when the volume is 20,000? 10,000?
What principle does your calculation illustrate?
Once the city is deemed to be operating a capacity the reduction of monetary stimulus will be required to maintain a balance between the aggregate suppy and demand of the output to keep infaltion on target in the area. Since aggregate demand is wh..
Compute the industry prices necessary to induce short-run quantities supplied by the firm of 5,000, 10,000, 15,000 tons of sweet peas. Assume that MC>AVC at every point along the firm's marginal cost curve and that total costs include a normal pro..
Assume that the cost of electricity from a natural gas plant is 5 cents per kilowatt-hour and that the cost of concentrating solar power (e.g., production from a plant like Ivanpah) is 13 cents per kilowatt-hour. Based on our discussion of the ex..
In the imperfect competitive market of jeans, Lean Jeans, Inc., recently offered rebates of $1 off the regular $50 price. Quantity sold jumped 4 more jeans from the previous 100 figure the previous month.
Imagine your company has put you in charge of developing a sustainability plan, a common framework your organization will use to achieve its sustainability goals. Devise two strategies you would have your company adopt, and explain why you believe..
Fronterra, created in 2001 by New Zealand lawmakers, profits some 13,000 dairymen instead of all the citizens of the nation.
Describe and explain why a socialist system might be the best in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January 2010.
Choose two of the following economic systems(traditional,free market,or centrally planned) and explain which of the two systems you think does the best job of achieving each goal of the major economic goals each economic system tries to meet
What market structure best characterizes the market in which universities compete? How does this structure influence the university's pricing strategy?
What is the Marginal Cost? What is the Average Cost? What is the optimal production level where production costs are the lowest per unit?
Explain and show graphically how this market would be affected if there is an increase in the number of dairy farmers that produce hormone-free milk and at the same time south african consumers choose to be more healthy
A firm has determined that its variable costs are given by the following relationship:
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