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Q. Pickles at the Sour Pickles Ranch are picked either by labor or by a machine. Labor can be obtained very cheaply - the going rate is $8 per hour, while the cost of using a machine for one hour is $32. The ranch is currently using only labor to pick pickles on an 800 acre farm. On average each worker can pick approximately 4 bushels of pickles per hour, while the additional pickles contributed by a pickle-picking machine are 40 bushels per hour. You have already determined that the machine is more efficient than labor, if SPR decides to take your recommendation and use a machine to pick pickles and eliminate all of its work force (labor), Illustrate what would be the cost saving of this change?
Expecting that wool prices would remain high, wool producers raised a lot more sheep.
Enterprises conduct business transactions with other enterprises for a number of economic, business and strategic motivations.
Jim Bradley is the director of the Bradley bakery. He has collected data on his store for the past year.
In which directions are they pushing or pulling the U.S. economy. Also, do you think the gap between real GDP and potential GDP will widen or narrow.
movements along the consumption function while changes in wealth lead to a shift of the consumption function.
Jim Vendors is viewing about manufacturing a new type of electric razor for men. If advertise were favorable, he would get a return of $100,000.
If there was a capital gain tax of 30 percent, what is the after-tax real interest rate, with the inflation rate of 8 percent.
A study noted that they charged a price for local telephone services that was roughly one-half of its cost of providing the services.
Study by the National Park Service revealed that 50 percent of vacationers going to the Rocky Mountain region visited Yellowstone Park, 40 percent visit the Tetons, and 35 percent visit both.
Limited partnership arrangements alleviate which traditional problem associated with real estate investments.
Can you tell whether this firm is in a competitive industry. If so, can you tell whether the industry is in a long-run equilibrium.
Illustrate what change in the economic enviJorgement led to this new equilibrium.
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