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what is the equivalent annual worth of costs for the website for a 5-year period (years 1 through 5) at an interest rate of 12 % per year?
Determine the optimum order quantity of baskets assuming the order costs per order is $600 and it costs $2 to carry a unit of basket in inventory per period.
Derive the total-revenue, average-revenue and marginal-revenue schedules from Q = 0 to Q = 4 by 1s. On the same set of axes, plot the total-revenue, averate-revenue and marginal-revenue curves.
Suppose consumers buy 30 million packs of cigarettes per month at a price of $4 per pack. If a $1 price is added to that price. By what percentage will cigarettes sales decline in the short run?
If the per-unit rental rate of capital, r, is $25 and the per-unit wage, w, is $15, then the fixed cost of using 81 units of capital and 9 units of labor is?
Provide an inexpensive input in many production processes. The information in this question suggests what about areas without voluntary recycling?
Restaurant from your competitors by offering northern Italian cuisine and using locally grown organic produce. What is likely to happen in the restaurant market in your hometown after you open?
Derive the equation for the IS curve, Y = kAp. Graph the IS curve for the interest rates between 0 and 8, with intervals of one-half of a percentage point.
Finally, what conditions could account for an eventual zero or even negative marginal product? Explain in words why McDonalds will not likely stop hiring at the point of .
Last year Big Mouth sold 90 megaphones per month at $100 each. After increasing the prices to pass on the tax bill volume decreased to 65 units per month. What is the arc elasticity ( Ep ) of the me
Where Po is the price of some other good. Assune the average value of P is $ 3 and the average value of Po is $ 6. what is the price elasticity at the average values of P and Po?
Suppose that the market price for a bottle of vitamins is $2.50 and that at that price the total market quantity demanded is 75,000,000 bottles. How many firms will there be in this industry?
The R&J ice cream company makes gallons of ice cream using the technology. When six ice cream makers are utilized each hour, at what point does diminishing marginal product set in?
In sept 1929 the cpi was at 17.3 and in jan 2011 the cpi was at 220.223. what was the value of the dow jones industrial average in 2011 dollars?
which of the 3 problems with the construction of the CPI are illustrated by each example below? the invention of the ipod. the introduction of airbags in cars.
In 2006 the bottom 50 percent of income earners earned 13 percent of the nation's adjusted gross income. What percentage of the nation's income taxes did they pay?
What was the marginal cost of the project, starting at the time that you learned that a competing product would reduce your company's expected sales? What about the marginal gain?
Explain carefully in terms of production theory why it might be that no amount of "cracking down" can increase worker productivity at CF&D.
A competitive, profit-maximizing firm operates at a point where its short-run average cost curve is upward sloping. What does this imply about the firm's economic profits? Briefly explain.
Explain the concept of the multiplier, and explain the role of the marginal propensity to consume in determining the size of the multiplier.
Consumers often identify brand names with quality. Do you think branded products usually are of higher quality than generic products and therefore justify their higher prices?
How much additional income would Bruce need to be able to afford his original consumption bundle when the price of apple juice doubles?
Find Sam's optimal consumption bundle of orange juice and apple juice each week. Suppose the price of apple juice rises to $2/cup, while the price of orange juice remains constant.
Would elasticity of demand be important to you in determining those products on which excises should be levied? Explain.
Markets were based on the competitive model we have presented in this chapter. Do you think the Internet has helped create more competitive markets or less? Why?