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The California Instruments Corporation, a producer of electronic equipment, makes pocket calculators in a plant that is run autonomously. The plant has a capacity output of 200,000 calculators per year, and the plant's manager regards 75 percent of capacity as the normal or standard output. The projected total variable costs for the normal or standard level of output are $900,000, while the total overhead or fixed costs are estimated to be 120 percent of total variable costs. The plant manager wants to apply a 20 percent markup on cost.
What price should the manager charge for the calculators?
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This problem uses Okun's law to study how the unemployment and inflation rates change when there are demand shocks. Assume that the relationship between the output ratio and the unemployment rate, U is given by the equation U = 6.0 - 0.5 (output ..
What is the expected value of the company in one year, with and without expansion? Would the company's stockholders be better off with or without expansion? Explain. What is the expected value of the company's debt in one year, with or without expa..
Suppose that natural real GDP is constant. For every 1 percent increase in the rate of inflation above its expected level, firms are willing to increase real GDP by 2 percent.
In a few weeks Professor Smith will be taking his daughter Attilla to the State Fair. Calculate the Marginal Rate of Substitution (MRS).
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