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Explain the following terminologies in economics
Spreading the overhead.
A break-even level of production.
The efficiency of mass production?
How does the theory of efficient production apply to managers of government bureaus or departments that are not run for profit?
How about non-profit clubs that collect just enough dues from their members to cover the cost of operation?
Your text raises the notion of a "representative bureaucracy." Presumably at its heart this means that the people fleshing out the bureaucracy would have demographic characteristics of the general population.
What is per unit cost of producing 60 units of output. ATC(60)=$10 What is per unit labour cost of producing 60 units of output. AVC(60)=$6.67 What is per unit fixed cost of producing 60 units of output.
You find out which your aunt works for a defense manufacturing company which has several defense contracts with the government.
Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores carry the same skirt, but it is more convenient for Juanita to get to some stores than others. Assume that Juanita takes opportunity costs and the pri..
Between 1972 and 1981, Texaco sold gasoline to independent Texaco retailers at “retail tank wagon prices” but granted substantial discounts to distributors Gull and Dompier. Gull resold the gas under its own name. In 1990, the Supreme Court of the Un..
Two partners own together a small landscaping business in North Carolina, called Summer Lawn Care. They have been specializing in summer grass seeding
If the Federal Reserve lowers interest rates in the United States, what do we expect to happen to US exports?
Introduction Our group has decided to analyze the Taco Bell restaurant on xxx WT Harris Blvd. Taco Bell is a fast food restaurant with a seating capacity of xxx. Etc. We have chosen 5 items to analyze and have presented them below. Etc. OVER 2. Optim..
Assume that the temporary increase in government purchases is for infrastructure like sewers or roads rather than for military purposes. The government spending on infrastructure makes private investment more productive. Use the saving-investment dia..
Billy and Bob are both 50 years old and work at the same rm. Billy is a more able individual and presently earns $90,000/year; Bob earns $50,000/year. They have the opportunity to enroll in a job-training course for a one-time cost of $10,000. What i..
Since 2009, the Federal Reserve has been unable to stimulate the US economy sufficiently enough to generate 3-5% annual growth in GDP,despite keeping shorts-term interest rates near zero and instituting a massive "quantitative easing" program. Why ha..
Assume an economy with a total population equal to 1. Individuals can only be employed or unemployed. Suppose this economy’s steady-state unemployment rate is 5%. We know that workers can lose their jobs and become unemployed with probability 4%. Wha..
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