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The process engineer at Strow bridge Metal works has the choice of machining a particular part on either of two machines. Orders for this part re received regularly, but the order size varies. When the order is processed on machine A, four sequential set up operations of 1 hour each are required. Once set up, the machining time is 0.50 hours per unit. When the order is processed on machine B, eight sequential set up operations of 0.75 hours each are required. Once set up, the machining time per unit is 0.55 hours. The hourly wage raes for operators are $20 and $18 for machine A and machine B, respectively. The hourly overhead rates, including set up time, are $30 and $27 for machine A and Machine B, respectively. a) Which machine is preferred if the order size is 100 units? b) Which machine is preferred if the order size is 500 units c) What is the breakeven order size
The movement in the direction of a market-based system with freely determined prices, competition, profits, private ownership, and other features of capitalism is not simple. Discuss some of the challenges associated with an economy transitioning fro..
A 5 percent increase in the price of digital apps reduces the amount of tablet devices demanded by 3 percent. What is the cross price elasticity of demand? Are tablet devices and digital apps complements or substitutes?
According to a Wall Street Journal article "MCI, in New Phone War Skirmish, Files Suit over AT&T Ad Claims," MCI was upset with AT&T over allegedly false claims that AT&T's service is cheaper than MCI's. Based on this data, estimate the equation for ..
Find an article (newspaper, magazine, or online) that discusses monetary policy. Use the article to answer the following questions. 1. The article indicates what monetary instrument(s) is/are being used by the central monetary authority? 2. Which ins..
What is a likely reason for having trouble identifying a conclusion in what you hear or read? Which of the five items below is usually NOT a part of a good argumentative essay?
On July 27, 2015, the Shanghai Composite Index fell by more than 8%. To preserve asset value, the Chineese government halted trading in some companies and in short selling. How did these actions impact the efficiency of the Shanghai stockmarket? Were..
Graph the dynamically efficient market for two periods on one graph and graph the dynamically efficient market for each period on it's own graph. Suppose the government sets a price control equal to 20.
"I'd rather have a 1% pay cut when prices fall by 3% than a 5% pay increase when the rate of inflation is 8%." This is an example of: Irrationality, Rising real wage, Deflation always being better than inflation, Excessive aggregate demand.
A mandatory health insurance plan costs $4,000. One worker earns $24,500 in employment income and $500 in investment income. Another worker earns $48,000 in employment income and $2,000 in investment income. Which of the payment systems in Exercise 1..
Explain what occurs when a new technology makes another one obsolete in terms of economic profit.
In a market where government has set the maximum price below the equilibrium price, one might expect:
Identify those who gave us the concepts of monopsony and human capital.
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