Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Yolanda owns an art factory in Palermo, Italy. She is thinking of expanding her exports of large-size paintings of Italian cityscapes. She has had little difficulty recruiting new artists to Palermo to work a 40-hour week in the factory. The weekly wage is $480 and she thinks she can hire as many artists as she needs for that rate. An additional artist normally adds 96 paintings per week to the output of the factory. However, Yolanda has been approached by a Hong Kong dealer who is selling remarkable computerized robots that can closely duplicate the work of her current artists. A robot can paint 210 pictures per week and has a daily operating cost of $168 per operating day. Regardless of whether she uses the robots or additional artists, Yolanda plans to operate the factory only five days per week.
(a) Employ the cost minimizing input rule to determine whether Yolanda should consider buying the robots. (Hint: You will need to convert all values into per week values)
(b) Given the current daily cost of robots, what artist wage would make Yolanda indifferent between employing the robots and hiring more artists?
Now suppose that a scientific study find that tap water is toxic, and everyone should drink only bottled water. Illustrate the impact of this study on the market and each firm. Use graphs to illustrate your answer.
Describe why personalized pricing or 1st degree price discrimination is g enerally more profitable than menu price. Why, if this is the case, do companies use menu pricing?
Evaulate the price elasticity of demand for subway rides. The subway fare in your town has just been increased from the current level of 50 cents to $1.00 per ride.
Name three goods or services with highly elastic price elasticity of supply. Name three goods or services with highly inelastic price elasticity of supply.
Draw a network that depicts the company's distribution network. Identify the supply nodes, transshipment notes, and demand nodes on the network.
Consider the following two alternative designs. Design A has an initial cost of $300,000 and net annual revenues of $55,000; Design B had an initial investment of $450,000 and net annual revenues of $80,000. A 10% MARR was used over the 10-year pl..
What is your expected rate of return over the one-month holding period?
A smart card, also known as an electronic purse, is a plastic card that can be loaded with a monetary value. Its developers argue that, once widely accepted, it could replace the use of currency in vending machines, parking meters, and elsewhere.
How does a price ceiling undermine the rationing function of market-determined prices? How could rationing coupons insure that consumers with the highest values get the limited amount of a good supplied when government prices ceilings create short..
when a variable grows at constant rate, then the graph of the ln of the variable is a linear function of time, with slope that is approximately equal to the growth rate of the original variable (when that growth rate is small). Usin..
Draw two diagrams, side by side with the money market diagram for Denmark on the left and the expected return in krone / exchange rate diagram on the right hand side.
Assuming that sales of oil are normally distributed with a mean of 362,500 barrels and a standard deviation of 100,000 barrels, determine the probability that Offshore will incur an operating loss.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd