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Graph and describe what effects would be (short run production function) if a new advanced process was found and how would the number of employees hired (variable input) change? This is a profit maximizing firm, also describe the profit maximization condition the firm uses.
Early this year, thousands of Americans flocked to Apple's outlets to purchase iPad 2 sold by iconic brand. Long queues snaked outside many of Apple's outlets dotted over the states.
Jet Set Travel, Inc. (JTI) has been hugely successful in the distribution of stylish, comfortable shoes for travel. Please describe how non-value added costs can damage the company, it sales, it costs, and it's value chain
As part of the preparations for the arrival of a hurricane, NC residents sought to buy electricity generators. As a result, you expect that in NC
Write down the differences between absorption and variable costing techniques on income statement presentation.
Short and Long-term costs business comparisons. Select directly comparison business concepts and generally discuss the FC, VC, break-even quantities, economies of scale and diseconomies of scale for each.
Competitive industry, market determined price =$12, Output = 50 units, ATC = $10, Marginal cost = $15, AVC = $7-Is this firm making the right profit maximizing decision? If yes, why and if not, what should this firm do?
Graph the supply and demand schedule for pizza using $5 through $15 as the value of p. In equilibrium, how many pizzas would be sold at what price?
A production lot of 25 units required 103.6 hours of effort. Accounting records show that first unit took seven hours. What was the learning rate?
Can you please provide a real-world example of product (a good or service) which has either an external cost or external benefit associated with it and propose the government policy to adjust for the over- or underproduction of this product.
Having a little trouble setting this problem up. Would appreciate the detailed set up and solution. A production function has 2 inputs - labor and capital. Both are perfect substitutes. Existing technology permits 1 machine to do work of 3 workers..
What is the law of diminishing marginal productivity? How does it differ from average productivity?
Distinguish between explicit and implicit costs, giving examples of each. Differentiate between accounting profit, normal profit and economic profit.
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