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A manufacturer of outdoor clothing makes wax jackets and trousers. Each jacket requires 1 hour to manufacture, whereas each pair of trousers takes 40 minutes. The material for a jacket cost £32 and those for a pair of trousers cost £40. The company can devote only 34 hours per week to the production of jackets and trousers, and the firm's total weekly cost for materials must not exceed £1200. The company sells the jackets at a profit of £12 each and the trousers at a profit of £14 per pair. Market research indicates that the firm can sell all of the jackets that are produced, but that it can sell at most half as many pairs of trousers as jackets.
How many jackets and trousers should the firm produce each week to maximize profit?
If the firm could obtain one more unit of production time, what would be the effect on the production mix? Hence, determine the value to the firm of that one extra unit of input.
Due to the changes in demand, the company has to change its profit margin on a pair of trousers. Assuming that the profit margin on a jacket remains at £12 and the manufacturing constraints are unchanged, find the minimum and maximum profit margins on a pair of trousers which the company can allow before it should change its strategy for optimum output.
If the production function is Q=K^.5 L^.5 and capital is fixed at 1 unit, then the average product of labor when L=36 is?
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Explain how this transaction would be recorded in your firm's financial statements. Additionally, your hospital has experienced negative levels of net income for the last five years. The total amount of accumulated deficits is $5 million
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Gentleman Gym just paid its annual dividend of $3 per share, and it is hugely expected that the dividend will raise by five percent per year indefinitely.
Discuss if you agree or disagree with this statement and explain your position: Market equilibrium (price and quantity of equilibrium) is just a theoretical result.
The small town of Middling experiences a sudden doubling of the birth rate. After three years, the birth rate returns to normal.
Southcoast Oil's fixed costs are $2,500,000 and its debt repayment requirements are $1,000,000. Selling price per barrel of oil is $18 and variable costs per barrel are $10.
What is significant about the connection between the demand for goods and market failures? What happens to the demand for goods when a market fails
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