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In a complex assembly operation, it is found that the learning curve rate is 70%. The standard time of 3 minutes per assembly is reached after the 110th unit. Find
i. The time required for the very first unit.
ii. The time required for the 200th unit.
If Advanta believes raising fees is a profitable move, then why would it delay implementing the higher fees, which could reduce the amount of profit generated by higher fees?
Does this case illustrate the law of diminishing marginal productivity and in this case, less and less of a single factor, labor, is being used. Does this have anything to do with the law of diminishing marginal utility?
Suppose that the euro zone is the home "country" and the US is the foreign country, which means that exchange rate, which has the dimensions of local currency per unit of foreign currency, is in units of euros per dollar.
What is the relationship between productivity and the cost of production, and how does the cost of production vary over the short- and long-run?
Suppose you own the home remodeling company. You're currently earning short-run profits. The home remodeling industry is the increasing-cost industry. In long run, what do you expect will take place to
Some states are planning that ethanol be mixed with gasoline to comply with anti pollution laws. Ethanol can be made from corn. Determine what effect are these rules having on the equilibrium price and quantity of corn?
Assume you are an aid to a government official planning on some recently proposed excise tax on welfare of her constituents.
A major step toward mastering the economic way of considering is learning to reason in terms of supply and demand. I have listed many questions below to answer and practice these ideas.
Identify an example in which a firm you are familiar with made a strategic decision that was focused on improving the organization's profitability. How did the market structure in which the firm competes affect the firm's decision-making?
Outline a micro-economic reform issue that is relevant to the Australian economy market and how successful do you think these reform measures were and say why referring to some data or research that has been performed.
Describe the difference between average revenue and marginal revenue .why are both of these revenue measures important to a profit-maximizing firm?
Predict what would happen to the equilibrium price of marijuana if it were legalized. Use demand & supply analysis to answer. Provide verbal and graphical explanation.This paper has to be three pages.
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