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For each of the following, is the industry perfectly competitive? Referring to market share, standardization of the product, and/or free entry and exit, explain your answers.
For each of the following, is the business a price-taking producer? Explain your answers. A cappuccino café in a university town where there are dozens of very similar cappuccino cafés
ABC uses job-order costing. It applies overhead cost to jobs on the basis of direct labor-hours. For the current year the company estimates that it will work 20,000 direct labor-hours and will incur $
ABC Company uses job-order costing. It incurred the following costs for job M301: 20 pounds of raw materials (all direct) were issued to be used for job M301 at a cost of $7 per pound
where f is the dimensionless function (which must have dimensionless arguments in order to be dimensionally consistent! - for any smooth function this can be proved via a Taylor series expansion)
A vertical, frictionless piston-cylinder device contains a gas that is in equilibrium with the weight of the piston balanced by the internal pressure for the gas.
A solar-water heating system uses solar panels on the roof of a large build, 40.0 m above the storage tank. The pressure at the panels is 1 atmosphere. What is the absolute pressure at the top of the
A town in the middle-of-nowhere is built up around a large 100 meter hill. Since the hill is in the center of a town, it is proposed at a town-hall meeting that a water tower be placed at the top of t
Express PV, where P is pressure and V is volume, in terms of the base SI units: the kilogram, meter, and second. Express your answer in terms of the abbreviations (kg, m, s). Compare this answer to th
Express kinetic energy in terms of the base SI units: the kilogram, meter, and second. Write your answer in terms of the abbreviations ({kg, m, s}), and then identify the resulting derived unit.
Two metal blocks, one at 50o, and the other at 0o are set next to each other in a perfectly insulted box at time t = 0. At this instant are the blocks in thermal equilibrium? Now suppose you wait a lo
What are the shortcomings of GDP deflator and CPI as measures of inflation? What are the effects of inaccuracy in measurement?
Freight is $400; trade discount is 10/5; and a cash discount of 2/10, n/30 is offered. Assuming Boeing paid within the discount period, what did Boeing pay?
Tina Mier must pay a $2,000 furniture bill. A finance company will loan Tina $2,000 for 8 months at a 9% discount rate. The finance company told Tina that if she wants to receive exactly $2,000, she m
A coin is biased so that a bead is three times as likely to occur as a tail. Find the expected number of tails when this coin is tossed twice.
A private pilot wishes to insure his airplane for $200,000. The insurance company estimates that a total loss may occur with probability 0.002, a 50% loss with probability 0.01, and a 25% loss with pr
Explain: “Unemployment can be caused by a decrease of aggregate demand or a decrease of aggregate supply.” In each case, specify the price-level outcomes.
A marble column of cross-sectional area 1.2m2 supports a mass of 25,000kg.
A rope of negligible mass is stretched horizontally between two supports that are 3.44 m apart. When an object of weight 3160 N is hung at the center of the rope, the rope is observed to sag by 35.0 c
Majestic Manufacturing sold Jordans Furniture a living room set for an $8,500 list price with 35% trade discount. The $100 freight (FOB shipping point) was not part of the list price.
Stacy's Dress Shop received a $1,050 invoice dated July 8 with 2/10, 1/15, n/60 terms. On July 22, Stacy's sent a $242 partial payment. What credit should Stacy's receive? What is Stacy's outstanding
The list price of an orange dial Luminox watch is $650. Katz Jewelers receives a trade discount of 30%. Find the trade discount amount and the net price.
After viewing the video multimedia resources, reflect on the challenges facing the U.S. labor force due to outsourcing of jobs overseas.
Describe the role of Banking and Financial Intermediaries in the economy and how banks create money through lending, as well as the Deposit Expansion Multiplier.
Let's consider the effects of inflation in an economy composed of only two people: Bob, a bean farmer, and Rita, a rice farmer. Bob and Rita always consume equal amounts of rice and beans.