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Producing 10,000 units of electric teapot requires $400,000 of prime costs, uses 1000 machine hours, and takes 1100 setup hours. The activity rates are $30 per machine hour and $110 per setup hour. What is the unit cost of an electric teapot?
Draw an AS/AD diagram which shows what happens if strong growth in AD has pushed actual RGDP to a level above potential (full employment) RGDP.
A graph the autarky equilibrium for an economy
i need an outline for the follwing topic this is for my microeconomics class applying cost benefit analysis collect
2. (4 points) Using the perfectly competitive labor demand and labor supply model,what would happen, all else equal, to the real wage and the number of workers in each of the cases below:A. There is an increase in the amount of physical capital as a ..
Compute and contrast at least two two-year forcasts from separate sources for two economic indicator.
Given that the CPI was 17.1 in 1929 and 184 in 2003, how much would you have to make in 2003 to have the same real hourly wage?
Using the Demand and Supply model anpredict what could happen to demand or supply curves and to equilibrium price. Include the curves in response.
While sitting in your office one evening, you begin to think about some of the key microeconomic messages you want to communicate to the Board.Pick two key concepts and discuss.
Solve the following time-distance-velocity problem. Two railroad stations are 830 km apart. The first train leaves Station A at a speed of 80 km/h, bound for Station B. At the same time another train leaves Station A at a speed of 46 km/h, bound..
The CPI for Zippa Republic was 111.9 in December 2007, 114.6 in December 2008, and 116.2 in December 2009.What do these numbers tell you about the price level in these three years?
What would be the consumer buying response to Coca-Cola if the price of Pepsi doubled? If the prices of Coca-Cola and Pepsi remained constant, what would be the typical buying response to these products if consumer income was reduced by 30%? Suppose ..
What price will the monopolist charge and how much output will he produce? Sketch a diagram of this market and show the equilibrium price and quantity. In addition, calculate the firm's profits.
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