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Danny’s Delights is a wholesale bakery. Danny makes a variety of baked goods which he sells to restaurants and grocery stores. His best-selling item is a peanut butter cookie. The recipe calls for 1 cup of peanut butter, 1 cup of sugar and 1 egg. Each recipe makes a batch of one dozen cookies. Danny’s standard direct materials cost for batch of cookies is $1.00 for peanut butter, $0.15 for sugar and $0.10 for an egg. In addition, the cookies are packaged by the dozen in cardboard containers costing $0.25 each. One batch of cookies requires 4 minutes preparation time, 8 minutes of cooking time, and 3 minutes of packaging time. The standard wage rate is $8 per hour. Overhead is applied at 50% of direct labor cost. Calculate the standard cost for a batch (1 dozen) of peanut butter cookies.
Suppose that the US current account deficit must be reduced. Explain in terms of CA ≈ (S – I) + (T – G) what must be done to reduce the current account deficit. Why will this be difficult? (Hint: It may be helpful to think about the household that ha..
q1. the demand for tulips in delft holland is estimated by the following linear regression asqd125-15p5ywhere y is
Short run cost function tables include information detailing average variable cost, average fixed cost. average total cost, and marginal cost. which of the figures do you consider most important for an organization to evaluate when determining levels..
Define the industry related to the product or service produced by the company you selected for your microeconomic/macroeconomic analysis papers. What are the main companies in the industry? What is the level of market concentration in the industry? T..
Savings of $5600 per year can be achieved through either a $14 000 machine (A) with a sevenyear service life and a $2000 salvage value, or a $25 000 machine (B) with a ten-year service life and a $10 000 salvage value. If the MARR is 9 percent, which..
If there is a 10% decline in the cost of women's fur coats and a 25% increase in quantity demanded Illustrate what is the elasticity.
Two different brands of milk are randomly samples, and the fat content in each bottle of mild is determined. Twenty six bottles of Brand A yielded an average fat content of 26 grams with a standard deviation of 5 grams, and 31 bottles of Brand B yiel..
Suppose that the government of a nation who's producers export coffee burns one-third of all the coffee fields before they can be harvested. Explain the impact of this action on the global price and quantity of coffee. Consider the question above. Ca..
What is unique about perfect competition as a market structure that sets it apart from the other three market structures? How does it affect the diagrams that we use to analyze firm behavior? What are the implications of the assumption of easy entry ..
Please describe the actions of the economic actors in the economic circular flow diagram and the physical and monetary transactions that occur in each market of circular flow diagram. What is the circular flow diagram describing? Please explain the t..
Consider a market where supply and demand are given by QXS = -16 + PX and QXd = 83 - 2PX. Suppose the government imposes a price floor of $36, and agrees to purchase any and all units consumers do not buy at the floor price of $36 per unit
Suppose instead that the station seeks to maximize its profit from sales of the DVDs. Illustrate what price should it charge. How many DVDs should it order from which supplier.
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