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The firm currently uses 50,00 workers to produce 200,000 units of output per day. The daily wage per worker is $80.00, and the price of the firm's output is $25.00. The Cost of other varibles inputs is $400,000 per day.
Assume that total fixed cost equals $1,000,000. Calculate the values for the following formulas:Total variable Cost = (# of workers * Workers Daily Wage) + Other variable Costs
Chez Henri is a restaurant chain that operates in 40 different cities. It hired an economist to estimate the factors affecting the demand for its sales. The following equation was estimated using cross sectional data from each of its 40 restaurant..
The following table shows how the total cost of producing canisters of peanuts varies with output and capital in the long run in a perfectly competitive industry. Quantity of Peanut Canisters each hour 0 1 2 3 4 5 6 7 8 Total Cost (K=1) (in dollar..
A newly graduated engineer bought furniture for $900 from a local store. Monthly payments for l year will be made. Interest is computed at a nominal rate of 6%. What interest is paid in the last month.
City-Wide Bank will make a $100,000 trust receipt loan against the finished goods inventory. The annual interest rate on the loan is 12% on the outstanding loan balance plus a 0.25% administrative fee levied against the $100,000 initial loan amoun..
Assume that the Bank of Ecoville has the following balance sheetand the Fed has a 10% reserve requirement in place:What is the maximum amount of new loans that this bank canmake Assume that the bank makes these loans. What will the newbalance sheet l..
You are considering opening a new business to sell golf clubs. You estimate that your manufacturing equipment will cost $100,000, facility updates will cost $250,000, and on average it will cost you $80 (in labor and material) to produce a club.
Over another range of prices, the price elasticity of demand varies from 1.5 to 0.75. What can you say about total revenue and the total revenue curve over these two ranges of demand curve as price fall
The theoretical background and hypothesis and the methodology section and What is the theoretical basis for answering the research question? That is, what are the arguments, given the existing theories, about how you key independent variable "X" i..
Country A and country B have identical population growth rates of 1% per annum, and everyone in each country always works 40 hours a week. Labor productivity grows at a rate of 2% in country A and at a rate of 2.5% in country B.
In the United States, the capital share of GDP is 30%, output growth is 3%, the depreciation rate is 4% and the capital output ratio (K/Y) is 2.5. Assume the US economy is described by a Cobb-Douglas production function.
suppose that an individuals demand curve for doctor visits per year is given bye the euqation p=100-25q, where q is the number of doctor visists per year and p is the price per visit. suppose also the that marginal cost of each doctor visit is $50..
At a product price of $ 40, how many units will this firm produce in the short-run b)At a product price of $ 50, how many units will this firm produce in the short-run c) At a product price of $ 60, how many units will this firm produce in the short..
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