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Stroika Concrete makes bags of easy use concrete for the DIY market. The company mixes their concrete using two ingredients, "Great Grit" and "A1 Aggregate". Great Grit costs $1 per kilogram and consists of 20% fine sand, 40% coarse sand and 40% gravel. A1 Aggregate costs $0.75 per kilogram and consists of 10% fine sand, 50% coarse sand and 40% gravel. Each bag of Stroika concrete must contain at least 2kg of fine sand, 2kg of coarse sand and 6kg of gravel. What is the least cost combination of the ingredients that will satisfy the minimum requirements and what will be the cost of these ingredients per bag of concrete produced?
Currently, a fast-food firm has a monopoly in the university student union. The monopoly pays the university $75,000 a year in order to maintain it. The firm earns an economic profit of $290,000 per year. Another fast-food firm wants to enter the mar..
Suppose Nation A can produce 2 million pounds of sugar per week OR 1 million pounds of rice in a week and Nation B can produce 10 million pounds of sugar per week OR 3 million pounds of rice in a week. If this is a two-good, two nation model,
George is going to replace his car in 3 years when he graduates, but now he needs a radiator repair. The local shop has a used radiator, which will be guaranteed for 2 years, or they can install a new one, which is "guaranteed for as long as you own ..
Many U.S.? cities, especially those with large populations of? renters, have rent controls. Suppose that San Francisco sets a rent control of $400 per month on? one-bedroom apartments. The rent control will create a _____ of apartments equal to______
Suppose your firm produces electricity by burning coal. Currently it buys central Appalachia 12,500 BTU per ton coal at the market price of $52 per ton.
Discuss the role of risk and return in the pharmaceutical industry. In the U.S. health expenditures on drugs amount to about 10% of total health expenditures. In Japan, where physicians are legally permitted to sell pharmaceuticals, national expendit..
The demand for Good X is given by Qx = 4000-Px-2Py+4Pz +0.2M where Py is the price of good Y, Pz is the price of good Z, and M is income, if Py =$800, Pz = $200 and M= $5000 determines the following: The inverse demand function for good X. Whether go..
Imagine that our representatives in Congress have concluded that the economy needs the stimulus of additional government spending, but they have spent several months haggling over what type of spending will be authorized. This is an example of a(n)
The Blue Dragon Restaurant is a new Chinese Restaurant in town. As the only Chinese restaurant in the area, it faces the following daily demand curve: Determine the profit-maximizing price of each meal assuming The Blue Dragon is behaving as a monopo..
To measure risk, the capital asset pricing model uses
Is it fair to miscommunication to the customer in this way? Are we being accurate, unambiguous, and clear? What’s the harm if the customer opens all the accounts?
Emphasis will be on the following areas of discussion: the determinants of aggregate productivity, output and employment? what is Monetary and Fiscal policy in the IS/LM model. third degree price discrimination and the role of price elasticity of dem..
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