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With current technology, suppose a firm is producing 400 loaves of banana bread daily. Also assume that the least-cost combination of resources in producing those loaves is 5 units of labor, 7 units of land, 2 units of capital, and 1 unit of entrepreneurial ability, selling at prices of $40, $60, $60, and $20, respectively. If the firm can sell these 400 loaves at $2 per unit, what is its total revenue? Its total cost? Its profit or loss? Will it continue to produce banana bread? If this firm's situation is typical for the other makers of banana bread, will resources flow toward or away from this bakery good?
What are the three macroeconomic goals? Find an article that shows a connection between a current event and two of the three macroeconomic goals.
GRAND RAPIDS, Mich. - Kellogg Company on Monday said its earning growth 17.3% in the 2nd quarter on strong firm wide sales growth, beating Wall's Street's expectations.
Marginal productivity can be divided into three ranges: Increasing marginal productivity; Diminishing marginal productivity; and Negative marginal productivity.
Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 3 bars and the price is $4. In year 2, the quantity produced is 4 bars and the price is $5. In year 3, the quantity produced is 5 bars and the price is $6. ..
Determine which of the following statements regarding Gross Domestic Product is not true?
Compute the employment rate and the level of productivity for each year and for each five-year period, compute the percentage change in the labour force, the employment rate and the level of productivity
Suppose that a less developed country known as LDC encourages direct foreign investment
The industry's assets are financed with some combination of common equity and long-term debt. What's the firm's debt ratio?
Illustrate what would happen if CPI decided to raise prices unilaterally in this toothpaste market.
What are the stages in the marketing research process? What is the marketing research method you would use to conduct marketing research for this soap? Why would you choose this method? How would you use marketing research to make recommendatio..
Suppose the following output and labor hours for Russia and Germany in producing Wheat and Cloths.
Elucidate the risks inherent in having the government step in to compensate for market failure.
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