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An industrial product may be manufactured using two methods of production. Using Method X, fixed costs are £2,300,000 per period and variable costs are £215 per unit of product. Using Method Y, fixed costs are £2,500,000 per period and variable costs are £190 per unit of product.
(a) Calculate the level of output for which the total cost of production using Method X is equal to the total cost of production using Method Y.
(b) Calculate the total cost of production per period for Method Y at this output.
Illustrate what are the effects of the current tax policy on US businesses in the short-run and in the long-run.
The annual growth rate for the population in the state of West Virginia is one of the nation's lowest at 0.30%. Why do you think other states, for example, Virginia, have nearly four times this growth rate
draw lorenz curves for 2 income distributions. can you say which distribution isnbsp more unequal based on the
For the 2nd quarter of 2011, identify the estimate for the current dollar value of Gross Domestic Product for the USA and explain in words what this number measures.
Discuss what the shortcomings (limitations) of GDP as a measure of well-being and welfare of a nation are?
How does a weak currency effect exports versus imports? NOTE:Use as many ideas, graphs and references as needed to defend your answer.
It offers all the amenities and benefits of a tight-knit small community, with the benefits of living close to the big city. Some years pass, and several children and adults in the community start developing extensive and similar illnesses.
Imagine one of worst case scenarios realizes in October 2012, in which Greece does not belong to the eurozone any more, so Greece goes back to use of its own currency, Greek drachma.
when bill clinton took office in january 1993 he faced two major economic problems a large federal budget deficit and
Because bagels and cream cheese are often eaten together, they are complements. We observe that both the equilibrium price of cream cheese and the equilibrium quantity of bagels have risen. What could be responsible for this pattern-- a fall in the p..
A well-known conglomerate that manufactures a multitude of noncompeting consumer products instituted a corporate-wide initiative to encourage the managers of its many divisions to share consumer demographic information.
Ilulustrate what incentives are needed for business to adopt new technology.
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