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Barry, a Texas Crude Company engineer who did not take Engineering Economy while studying at Tech, recommended that Texas Crude purchase a special tool to reduce the cost of pumping oil out of the bayous of St. Martin Parish. As a result of Barry's recommendation, Texas Crude purchased the tool for $30,000 on January 1, 2005. By January 1, 2006, the tool had saved a total of $5,000 and went on line full time. After going on line full time, the tool saved Texas Crude $9,000 each year for the next three years and Barry was happy. However, Barry recommended the "el-cheapo" model, and it started breaking down during the early part of year five, and ended up by saving only $4,000 during year five. It was scrapped as being unusable at the end of year five, and had a zero salvage value. Barry told his boss that his recommendation had been correct, as it had saved Texas Crude $6,000 and that is a savings of 20%. Use a MARR of 10% and evaluate the effectiveness of the tool and the correctness of Barry's recommendation.
Think a competitive industry consisting of one hundred identical firms each with the following cost schedule,
What was Morita drawing and what did he know about costing that the chain store representative was overlooking? Be sure to describe or chart the shape of Morita's costing sketch in your answer.
What is the profit maximizing price and quantity of output for Ajax, assuming it is an unregulated monopoly? What are its profits?
The U.S. imposes a quota of 45 million units per month on this good and what will be the price U.S. consumers will pay for the good now?
Obtain Income elasticity of demand and Calculate the quantity demanded for goods 1 and 2 at these prices and this income level.
In today's economic climate, retailers are continuously conducting sales in order to get customers in their doors. Analyze the short-term and long-term effects of continuous sales to all stakeholders.
How do markets determine the payments to the various factors of production? How do markets determine the distribution of income?
Lightweight personal locator beacons are now available to hikers that make it easier for the Forest Service's rescue teams to locate those lost or in trouble in the wilderness.
List and briefly describe the three primary tools the Fed has to control the money supply and how all three can specifically be used to either increase or decrease the money supply
Develop a one year monthly or weekly forecast or a two year quarterly forecast (for the hold out period) using the time series decomposition model you evaluated in c) above.
What is the elasticity of demand with respect to income? Comment on and interpret your answer (i.e., the sign and magnitude of the elasticity).
What is adverse selection? How does it harm the economic process and what is moral hazard? What are its consequences
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