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1. Transportation costs per ton of product vary with distance. For trucks the function is: = 3 + 1.25 For rail it is: = 5 + For barge it is: = 6 + 1.1 where d is the distance in hundreds of miles and TC is dollars per ton. Make a table showing the least cost mode of transport for distances d = 1, 2, ...,10. Graph the problem and label the modal break points clearly. No graph paper, max 50% points on assignment.
2. Farmers growing peas ship them to the processing plant of their cooperative. The price paid for peas by the coop is $25 per ton minus the cost of haulage. The coop charges hauling fees of:where d is the distance from the farm to the plant in miles and TC is the cost of haulage per ton. Make a table showing the net price the farmers receive for d = 1, 2, ...,10 miles distance from the plant.
3. These same farmers buy fertilizer from the coop at $11/ton. The fertilizer store is the same location as the processing plant for the peas. They pay for haulage from that location at a cost of: = 1.5 + where d is the distance in miles from the fertilizer store to the farm and TC is the cost per ton. The net cost of fertilizer is $10 plus hauling expenses. Make a table showing the net price that farmers pay for d = 1, 2, ...,10 miles distance from the plant.
The changes in the macroeconomic indicators affect the economic decisions of the 3 economic agents (household, firms, and government). Assume you are a business owner (manager). How do you use macroeconomic indicators in your business plan and strate..
If the price of a product decreases, we would expect: "Price" in the statement of the Law of Supply refers to: A decrease in demand and an increase in supply will: When producers (say, of roads) are not able to make all consumers pay for enjoying the..
What are some ways you might seek to be understood? How can this thought experiment help you in your daily life.
What is the optimal bundle Carmela can achieve while spending $60? C) For Carmela, is clothing a normal or inferior good?
The current size of the labour force in Coconut Republic is 298,555. It is also known that the labour force participation rate is 61.7%.
Price Discrimination Assignment A movie theatre has a cost function which entails the rent of the commercial building of $50 per day (fixed cost) and a marginal cost of $5 per viewer. Determine the optimal ticket prices for students and for others. D..
If the table represents the demand faced by a monopoly firm, then what is that firm's marginal revenue as it increases output from 1300 units to 2200 units - Is demand elastic or inelastic in the $6-$8 price range? How do you know?
1) What is development? 2) What are the essential things we require? 3) State things other than income,people seek as non materialistic?
After 10 years have passed, what will be this country's real GDP per capita?
According to the imperfect-information model, when the price level rises by the amount the producer expected it to rise, the producer:
Suppose that the latest Consumer Price Index (CPI) release shows a higher inflation rate in the U.S. than was expected. Everything else held constant, the release of the CPI report would immediately cause the demand for U.S. assets to ________ and th..
Proponents of the free market would argue that the government should only intervene in an economy when the market fails, in areas such as public goods provision
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