Which of the families in the city will buy their shirts

Assignment Help Microeconomics
Reference no: EM13231349

Jim enters the town and makes a factory, which is employed by the locals. Every worker in the factory works on one machine and is able to produce 6 shirts per hour. The cost of running the machine is half a loaf of bread per hour, the cost to employ each worker is 1.5 loaves of bread per hour.

The customers of the factory are the families of city A.

The time it takes to travel back and forth to the factory is 5 minutes per kilometer. For example, someone who is 2 kilometers away from the factory will lose 10 minutes to make the trip back and forth to the factory.

Which of the families in the city will buy their shirts from the factory rather than make them themselves?

Reference no: EM13231349

Questions Cloud

Find net present value and internal rate of return : Calculate net present value (NPV), internal rate of return (IRR), and payback for the investment opportunity What information will you and your staff need to analyze this investment opportunity - how will you go about making the decision?
What is total number of workers that will be added to city a : Newton exports all their products outside the city and Garfield only sells their products within the city. Newton experiences growth, so it hires 100 more workers, all of whom come to reside in city A. Because of this, Garfield - at the first stag..
Should audiocables buy the new equipment : Variable cost would increase to $.60, but sales volume should jump to 50,000 units due ti a higher-quality product. Should audiocables buy the new equipment?
What type information is carried by data bus and address bus : What type of information is carried by the Data Bus? The Address Bus?
Which of the families in the city will buy their shirts : Jim enters the town and makes a factory, which is employed by the locals. Every worker in the factory works on one machine and is able to produce 6 shirts per hour. The cost of running the machine is half a loaf of bread per hour, the cost to empl..
Calculate the profit of the each locations : If expected sales at A, B, and C are 20,500 per month, 22,800 per month, and 23,400 per month, respectively, calculate the profit of the each locations?
What is the volume the gas occupy if the temperature is low : A gas at 30 degrees C and 600 mmHg occupies a volume of 412 cm^3. What is the volume in cm^3 that the gas will occupy if the temperature is lowered to -30 degrees C at the same pressure
What should the leaders response be : Describe briefly how a leader can recognize a regressive cycle and what should the leader's response be?
Define the alchemists : In the middle age alchemists labored to turn common materialsuch as Iron into precious metals such as gold if you could journey back in time

Reviews

Write a Review

Microeconomics Questions & Answers

  Describe overhead cost discussion

Assume the following was overheard at the water cooler: "I think our medical device company should take advantage of economies of scale by increasing our output, thereby spreading out our overhead costs."

  What is the market clearing price for market

What is the market clearing price for this market? What is the market quantity and calculate the Consumer Surplus (CS), the Producer Surplus (PS), and the Social Welfare (SW).

  Monopolists and free ridership

Explain the circumstances in which a monopolist may encounter a free rider problem and determine the senses in which a perfectly-discriminating monopolist is efficient or inefficient.

  What is least-cost input-combination of labor and capital

what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources?

  Explain real rate of return in the stock market

Suppose the price that year rose by 8% and the real rate of return in the stock market was 4%. Your friend says she or he was being more than fair giving you more than the rate of inflation as a return, What do you think and Why?

  Computation of expected value and absolute risk measurement

Compare the work and formulas for computation of Expected Value, Absolute Risk Measurement, and Relative Risk for both projects.

  Explain rises or falls in short-term interest rates

Suppose you were the manager of a bank that raised most of its funds from short- term variable-rate deposits and used these funds to make fixed-rate mortgage loans. Should you be more concerned about rises or falls in short-term interest rates? ..

  Question about micro economics

Question about micro economics- Sam Smith owns an internet radio company that has subscribers in Houston and Dallas

  How to protect workers against unsafe working conditions

Evaluate this statement: " profit-maximizing firms lack an incentive to provide job safety, and consequently, the federal government must intervene legislatively to protect workers against unsafe working conditions that will surely result."

  The marginal cost function

Determine the profit maximizing output?

  What is the impact on the underground economy

What is the underground economy? What is the impact on the underground economy of instituting a tax on a certain productive activity?

  Draw the total market demand curve

Draw the total market demand curve. Label the axes and intercepts. Discuss how the price elasticity of demand changes along the demand curve.

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd