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An analyst has timed a metal cutting operation for fifty cycles. The average time eachcycle was 10.40 minutes, and standard deviation was 1.20 minutes for a employee with a performance rating of 125%. Suppose an allowance of 16 percent of job time. Find the standard time for this operation.
What happens to the student's budget line? Illustrate the change with new books on the vertical axis. Is the student worse off or better off after the price change. Explain.
Cost-Plus Pricing. Wendel Stove Company is developing a "professional" model stove aimed at the home market. The company estimates that variable costs will be $2,000 per unit and fixed costs will be $10,000,000 per year.
Discuss and explain how coaching rather than managing people can enhance a leader's understanding of RQ and therefore provide a better understanding of their followers.
Distinguish between explicit & implicit costs, giving example of each and what are the explicit & implicit costs of attending college?? Why does the economist classify normal profit as a cost?
Which of the following statements best states the demand for agricultural commodities?
Airlines practice price discrimination by charging leisure travelers and business travelers different prices. Different customers pay varying prices for essentially the same coach seat because some passengers qualify for discounts and others do no..
A firm with market power produces widgets at marginal cost of $10 per unit and zero fixed costs. It faces demand function given by P = 50 - Q. Find out the marginal revenue for the firm?
Assume you own the remodeling company. You're currently earning short-run profits. The home remodeling industry is an increasing cost industry. In the long run, what do you expect will happen to:
"Monopolistic competition is monopolistic up to the point at which consumers become willing to purchase close-substitute items and competitive beyond that point." Describe
Find out the firm's optimal quantity, price, and profit (1) by using the profit and the marginal profit equations and (2) by setting MR equal to MC. Also provide a graph of MR and MC.
Case study analysis about optimum resource allocation: - Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..
Several eminent economists have defined this subject in accordance with their different understanding or realization of economic problems.
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