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A firm produces digital watches on a single production line serviced during one daily shift; The total output of watches depends directly on the # of labor hrs employed on the line. Max capacity = 120k watches per month: this output requires 60k hrs of labor per month. Total fixed cost =600k per month, wage rate =$8 per hr and variable costs avg $6 per watch. The marketing estimate of demand is P=28-Q/20000 where P denote price in s and Q is monthly demand. How many additional watches can be produced by an extra hr of labor? What is MC of any additional watch? As a profit maximizer what price and output should the firm set? Is production capacity fully utilized? What contribution does this product line provide? The firm can increase capacity to 100% by scheduling a night shift. The wage rate = $12 per hr. Answer questions in part A in light of new option Suppose demand for the firm's watches fall permanently to P=20-Q/20000. With the fall of demand, what output should the firm produce in the short run, in the long run? Explain.
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Use Starbucks as the company, please help identify market structure of the organization. Evaluate the effectiveness of this structure for the company.
Find the equation of the new demand curve for Chevrolets. Plot the new demand curve, D1 c' and, on the same graph, plot the curve for Chevrolets, D c'. found in 2 (d).
I have recently been employed by a new company selling electronic dog feeders. My customer has asked me to gather some information on the supply and demand for feeder,
Identify a person in an organization, or event(s) that should be given credit for the relatively low, stable rate of inflation we've had in the United States since the late 1980s?
With respect to price elasticity of demand, create a graph using the information in figure 1. Illustrate the ranges on demand curve that indicate elastic, inelastic, and unitary elasticity.
Determine what would be present value of an product that has a salvage value of $25,000 at the end of 5-years? Suppose a discount rate of 3.8 percent for an end of year factor.
Sometimes market activities have unintended positive or negative effects outside the market scope called externalities. As a rule maker concerned with correcting effects of gases
In the aftermath of September 11 terrorist attacks, the quantity of sold airline tickets in 2002 fell by a large percentage when compared to 2001. During the same time period the average price for airling tickets also fell.
Identify which of the determinants of demand or supply are affected and also indicate whether demand or supply increases or decreases.
What is the average fixed cost of producing 2 units of output based on the following table:
Comparative statics examine in economics is best illustrated as comparison of equilibrium points before and after changes in market have occurred.
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