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Sleak Teak builds yard furniture using hardwoods and (in a smaller shop) handcrafted knick-knacks from the same sort of wood. Although hardwoods were readily available in the past, recently the have been much more dificult to obtain. The hardwood usage in the two lines of product are
Yard Furniture: Y = 2 Ty - .001Ty2 Knick-knacks: K = 20Tk - .01 Tk2 where Y and Z are units of products. Ty and Tk denote teak used in each product. Yard furniture can be sold at a profit (i.e., net of costs) of $100 per unit and knick-knacks can be sold at a profit of $25 per unit. Sleak Teak has 1300 units of teak available. Explain how should it be allocated?
At some levels of output Acme's average total costs are less than Generic's, but at some levels of output Generic's average costs are less than Acme's.
Use indifference analysis to demonstrate the income, substitution also the total effects if good X is a non-Griffin inferior one.
which nation should the company locate its new plant so as to minimize costs per unit of output.
Why are incomes so much more unequal within poor nations that within rich nations generally
You are using a sample size of 15 for your charting purposes. Which of the following is the upper control limit D4 factor for the chart.
CER defaults on its loan payments to Bank One. Can Bank One attach the 100 stereo systems CER bought from Stereo Manufacturer.
The United States is experiencing a recession and Congress decides to adopt an expansionary fiscal policy to stimulate the economy.
The equilibrium price of coffee mugs rose sharply last month, but the equilibrium quantity was the same as ever.
Illustrate what is the expected return of the remaining portion of Peggy's portfolio.
Is the industry or industries in which the firm operates conducive to abnormally high rates of return.
Illustrate what occurred to employment during the rest of 2008. Illustrate what are some of the alternatives to a tax cut that might have been utilized.
short-run average cost curve and the long-run average cost curve are both U-shaped for the same reasons.
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