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A brewery produces two kinds of beer, stout and IPA . Each batch of stout sells for $60 per unit while each batch of IPA sells for $108. Both products require malt, hops, barley, filtered water, and yeast, measured in physical "units" for convenience. Each batch of stout uses 1 unit of malt, 1 unit of hops, 2 units of barley, 5 units of yeast, and 10 units of filtered water. The corresponding requirements for IPA are: 5 units malt, 2 units hops, 1 unit barley, 8 units yeast and 9 units water. On any given day, the brewery has on hand 150 units of malt, 90 units of hops, and 150 units of barley. The brewery pays $2 per unit for filtered water and $4 per unit of yeast.
If the marginal disutility of labor increases, the equilibrium real wage increases and the equilibrium quantity of labor goes up. True or false?
Oligopoly is a marketplace where the deliver is controlled by a small group of companies. In this condition, the actions of single company will have a material effect on the whole
When investment banks underwrite IPOs, they are typically sell stock for 5-10 percent more than they pay for it. When they underwrite stock for companies that are already public, t
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Which of the following is assumed in constructing a typical production possibilities curve? a. the economy is engaging in international trade. b. production technology is fix
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To develop what you believe is a terrific idea for a video game, you lease 50,000 square feet in an office building from Commercial Property, LLC, under a written five-year lease.
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