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The demand for 1,000 units of a part to be used at a uniform rate throughout the year may be met by manufacturing. The part can be produced at the rate of 3 per hour in a department that works 1,880 hours per year. The set-up cost per lot is estimated to be $40, and the manufacturing cost has been established at $5.20 per unit. Interest, insurance, taxes, space, and other holding costs are $3.10 per unit per year. Calculate the economic manufacturing quantity
Cartels with a small number of industries have a greater probability of reaching the monopoly outcome than do cartels with a larger number of industries.
Explain how the economy can adjust in the long run to restore full-employment equilibrium. Draw a graph to illustrate this adjustment process.
Explain how markets in perfect competition differ from markets that are imperfectly competitive. Illustrate what role does firm have in determining market price under each condition.
If there are 200 rooms also the operating costs $20,000 plus a cleaning fee of $5 per room per day, compute the profit during the one-week period.
In 2005, conditions in Iraq led to a sharp drop in consumer confidence and a drop in consumption. Assume that the Fed holds the money supply constant, tell a story and predict the effects on the equilibrium levels of aggregate output (Y) and the inte..
Total hours worked, and average labor productivity all are procyclical. Which variable, output or total hours worked, increases by a larger percentage in expansions falls by a larger percentage in recessions.
The president of your college believes that the cost of a college education is far too expensive for students to afford and has decided.
Graph the budget constraints facing each of the three families and discuss a possible indifference curve which could correspond to the choice each family makes.
illustrate what kind of policy would you recommend to slow population growth.
Illustrate what is the total cost of finding a new plot of grass and getting y units of grass from it.
A few years ago, a construction manager earning $70,000/ year working for a regional home builder decided to open his own home building company.
If L is increased by 2% with K unchanged, what is the resulting percentage change in output? Describe the nature of returns to scale for this production function.
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