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The Largo Publishing House uses 400 printers (workers) and 200 printing presses to produce books. A printer's wage rate is $20 per hour and the price per hour of a printing press is $5,000. The last printer hired added 20 books (per hour) to total output, while the last printing press added 1000 books (per hour) to total output. Is the publishing house making the optimal input choice? If not, how should the manager of Largo Publishing House adjust input usage? Answer A. No, the publisher is not making the optimal input choice. The publisher should use less of both inputs because the MP of each one is declining. B. No, the publisher is not making the optimal input choice. The publisher should use more of both inputs in order to benefit from economies of scale. C. No, the publisher is not making the optimal input choice. The publisher should use more printing press hours and fewer printer hours to produce at the same rate of output. D. Yes, the publisher is making the optimal input choice. E. No, the publisher is not making the optimal input choice. The publisher should use more labor hours and fewer printing press hours to produce at the same rate of output.
You enroll in a thrift plan in which you are allowed to contribute 8% of your pretax salary per year. The company contributes an additional 6%. Your starting salary is $62,500 and you can expect annual increases of 3.5%. Use an interest rate of 7...
A purchasing agent for a trucking company is shopping for replacement tires for their trucks from two suppliers. The suppliers' prices are the same. However, Supplier A's tires have an average life of 60,000 miles with a standard deviation of 10,0..
Suppose the income of buyers (Y) increases by 10 percent (calculated as change in Y/average Y) and, as a result, the quantity demanded of the good increases by 2 percent (calculated as change in Qd/average Qd). Check the correct statement(s): A. T..
suppose that there are 100 identical individuals (denoted j) in the economy each with the inverse demand equation P = 200 - 60qj. How do you solve for the industry supply curve and for the industry demand curve. Solve these for equilibrium industry..
What is the profit-maximizing price and output level. Solve this algebraically for equilibrium P and Q and alos plat the MC, D and MR curves. b. What profit do you expect that the firm will make in the first year? c. Do you expect this profit leve..
Discuss the signs and magnitudes of the estimated coefficients and their comparisons to predicted or theoretical signs and magnitudes. What have we learned?
Further, the standard deviation for children under 12 was 51.7, while the standard deviation for children 13 to 17 of age was 67.6. Assuming that the variances in the populations are equal, is there a difference in the mean cell phone usage betwee..
For the consumer price index (CPI) values shown, calculate the rate of inflation in each year from 1930 to 1933. Year: 1929 1930 1931 1932 1933 CPI: 51.3 50.0 45.6 40.9 38.8
A cupola for a foundry was purchased for $3000.$500 more was spent on its erection and commisioning.The estimated residual value after 10 yeras was $700. A)calculate annual rate of depriciation. B)Determine the amount of depriciation at the end of ..
Customer Group B is willing to pay $29,000 for the SUV and $1,000 for the towing package. Assuming the manufacturer cannot price discriminate but can bundle the products or sell them separate, which of the options below maximizes its revenues
What is the annual compounding interest charged? Using the compounding annual interest rate from above, what is the nominal, period interest rate and corresponding effective interest rate if compounding is hourly? Assume 30 days per month.
Let X be the number of minutes it takes to drain a soda filler of a particular flavor in order to change over to a new flavor. The probability density function for X is: f(x)=X/15, x= 1,2,3,4,5 a) What is the probability that it will take exactly t..
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