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You are the manager of a 24-hour copy shop that is closed on Sundays. You lease a building for $2,000 per month and hire three employees who each work eight-hour shifts at a wage of $10.00 per hour (each works a total of 40 hours per week). The markets for labor and office space are tight in your area. To acquire the lease and hire workers, you signed contracts requiring you to give 12 months advance notice before abandoning your lease or laying off workers (if you fail to comply, the contracts force you to fully compensate your landlord and workers for the income they otherwise would have earned over the 12-month period). Paper costs you $.02 per sheet. You currently sell 1,000,000 color copies per year at a price of $.10 per copy and 2,000,000 black-and-white copies per year at a price of $.05 per copy. Because of your high volume, each of your two copiers has a useful life of only one year. You just received a call from an employee who informs you that your color copier just broke down. The good news is that your black-and-white copier is brand-new; the bad news is that a new color copier will cost $50,000. Assume that customers who want color copies are unwilling to substitute black-and-white copies.
Are there any costs that are irrelevant to your decision of whether or not to purchase the new color copier?
Should you purchase a new color copier? Justify your answer.
What are problems associated with implementing JIT purchasing. What are some of expectations of suppliers.
q.firm 1 is the incumbent in a market lasting two periods with inverse demand curve p74 -9q. its first-period costs are
what happens to the amount of debt held by the public. What would happens to the level of gross debt.
Suppose that the government decides that the level of housing shown in part a(say, H*) is "substandard" and requires that all people buy H**>H* instead. Show that these las would reduce this person’s utility.
For a competitive market,
Illustrate what does the theory of purchasing power parity predict will happen to the value of Japanese yen in item of dollars
imagine a backyard garden of fixed size and all other inputs except labor also fixed ; will adding a worker increase your output? Will adding another increase output by as much? another?
Which of the following market conditions in an oligopoly increase the probability that it will be able to maintain prices well above the competitive market level? Explain your answer briefly in each case.
A city manager wants to invest a sum of money in an account that pays 6% annual interest to cover the monthly operating costs of the city's water treatment plant for the next 6 years. The monthly operating costs for the plant are projected to be $19,..
Research shows that much more money is spent on medical care for the elderly today than 50 years ago. What is the likely reason? Do today’s elderly tend to be sicker and more likely to be disabled than in prior years?
The world willingness to pay for oil is given by P = 200 - Q, with P in dollars per barrel and Q in thousands of barrels per month, and OPEC is planning its strategy to set the world oil price. The competitive fringe of small firms takes the price OP..
Suppose Alan’s preferences are described by the utility function: Find Alan’s MRS. Find the equation for Alan’s indifference curve through the bundle (3, 6).
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