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A punch press stamps 2050 brackets during an 8 hour shift. 2 operators run the machine during the shift. 80 parts were scrapped after testing. Hourly Rate for each operator is overhead is 1.5 times the hourly rate wage. Material cost is $1.5 per part. Calculate the manufacture productivity.
Describe the short run and long run equilibrium in a monopolistically competitive market. An open market purchase of securities will always cause the equilibrium Fed Funds rate to fall. The "time-inconsistency problem" is less likely to occur when th..
Grandparents decided to start a college fund for their soon to be born granddaughter. They plan to make third first deposit the day she is born and plan to make the last deposit on her 10th birthday. They want the child to be able to withdraw 10,000 ..
The local supermarket buys lettuce each day to ensure really fresh produce. Each morning any lettuce that is left from the previous day is sold to a dealer that resells it to farmers who use it to feed their animals. This week the supermarket can buy..
A group of attorneys, judges and law professionals have collaborated to write a uniform criminal code. The code would create uniformity in criminal law across the United States, defining what constitutes a misdemeanor, what constitutes a felony, how ..
Third National Bank has reserves of $10,000 and checkable deposits of $100,000. The reserve ratio is 10 percent. Households deposit $20,000 in currency into the bank and that currency is added to reserves. What level of excess reserves does the bank ..
What would be the present value for a series of 10 monthly payments, starting at $500 in the first month increasing by $50 every month with an interest rate of 5% compounded monthly?
From an economist's perspective, an important consideration for policies to address global warming is: When a producer cannot get all consumers of their product to pay for enjoying it, such as in the case of a fireworks display, then we'd have a dema..
The elasticity of demand for oil is -0.5 and the elasticity of supply is 0.20. If the demand for oil increases 10 percent, what happens to the price of oil?
Maximizing the Profit? Margin? According to the marginal? principle, the firm should choose the quantity of output at which price equals marginal cost.
An asset with a first cost of $100,000 is depreciated over 5-year period. It is expected to have a $10,000 salvage value at the end of 5 years. Using the straight-line method, what is the book value at the end of year 2?
Several password strength tools exist online. These tools can help you understand the differences between strong and weak passwords.
Determine equations for P=f(Q), MR=f(Q), ATC=f(Q, Q2), AVC=f(Q, Q2), MC=f(Q, Q2). Recall that your marginal equations should be derivatives of your totals. Determine the profit-maximizing price and quantity.
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