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-A manufacturing shop is designed to operate most efficiently at an output of 1,170 units per day. In the past month the plant produced 1,020 units. What was their capacity utilization rate last month?
-Hoosier Manufacturing operates a production shop that is designed to have the lowest unit production cost at an output rate of 195 units per hour. In the month of July, the company operated the production line for a total of 365 hours and produced 45,400 units of output. What was its capacity utilization rate for the month?
Illustrate wage would a monopoly union demand. Explain how many workers would be employed under the union contract.
A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal co..
Suppose a country has total GDP (Y) = $10 trillion, consumption = $7 trillion, government spending = $2 trillion, investment = $2 trillion, and taxes = $1.5 trillion. What is the level of net exports or balance of trade? What is the level of public s..
What are externalities? Why are they a problem in a market economy? In other words, what about externalities makes a free market fail at correcting them?
To differentiate its product a monopolistic competitive firm will engage in all of the following advertising practices EXCEPT
Carefully draw a diagram illustrating the cost curves of the above shoe firm.
He found that the table stated his probability as 0.1131. Determine whether Alex made an error in his calculation and explain.
An "increase in the quantity demanded" means that a. the demand curve has shifted to the right
In 1990 Sweden had a GDP of $73 billion (measured in U.S. dollars) and a population of 5.2 million. In 2010, Sweden had a GDP of $165 billion
What is the discount rate in the banking system? Explain how the Fed manipulates this rate to achieve macroeconomic objectives.
Consider a small open economy in the short run where the government imposes trade tariffs on corn. Under which regime (floating or fixed exchange), are the tariffs more effective in increasing output? Under which regime does the money supply increase..
Suppose that income falls to $800. What is the new equation for the demand for TV stands as a function of price P?
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