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The total relevant cost of holding inventory in a plant forpurchased materials is given,
TRC = (6000/Q)(60) + 0.30(12)(Q/2)+6000(12) where Q= economicorder quantity.
Determine the optimum order quantity and the corresponding totalrelevant cost (TRC).
If the production function is Y = A K1/2L1/2 what is total factor productivity?
Increase the level of the activity if its marginal benefit exceeds its marginal cost, but reduce the level if the marginal cost exceeds the marginal benefit. Why is the level where marginal benefit equals marginal cost considered maximum satisfact..
Explain how many hours of work is the consumer working. What is her income.
Summarize an article using at least three economic terms and theories covered in class. Identify the impact of the policy on Demand or Supply of the good(s) or service(s). Discuss the change(s). Draw a supply and demand graph to explain this chan..
Write down his budget constraint and a utility function that captures his preferences. Draw his budget constraint and three of his indifference curves.
Consider a market in which there are N identical buyers who each demand qb = a - P units and thus that market demand is given by Q = N(a - P). Each firm has constant marginal cost equal to c and fixed cost equal to F
Does either hospital have a dominant strategy (or any dominated strategy) Assuming they determine their strategies independently or one another, what are the hospitals' respective (Nash) equilibrium strategies Explain briefly.
Draw an aggregate demand(AD)-aggregate supply (AS) complete framework that shows where the US economy in a full employment equilibrium& then where it is now.
OPEC oil cartel becomes subject to this tension or conflict such that the cartel gives way to a more competitive oil market resulting in a dramatic decrease in the world oil price.
Explain why do economists attempting to forecast short run future changes in real GDP and employment look closely at data on business inventories and unfilled orders.
Illustrate what role does economics play in your personal and organizations decisions. Give an example of the role of economics in decision making.
Given the above prices, will the firm adopt a new method which involves 10 units of land, 3 of labor, 2 of capital, and 2 of entrepreneurial ability?
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