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The only method for analyzing this week's discussion question of whether flexible manufacturing method of production results in optimum output, is by evaluating the process for reaching the optimal level of output.
First, it is important to know that the optimal level of output for firm producing "one line of product" is determined by profit maximization rule of marginal revenue equal to marginal cost. However, this rule for producing the optimal level of production is not applicable to only relevant to a firm like Honda manufacturing multiple lines of vehicles.
What is the rule of production the optimal level of production (and hence profit maximization) for a firm, like Honda, using "limited" plant-specific resources to manufacture multiple lines of products that are production-wise substitutes?
For each of the event listed here, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply increases or decreases. Then draw a diagram to show the effect on the price and quantity.
1. Using Figure 1 below, determine each of the following: a. equilibrium price before the tax
macropoland a country that is a natural gas and oil importer has a natural rate of unemployment at the full employment
With the unemployment salary at an hourly rate of $7.25 do youbelieve that this helps our economy, does it hurt oureconomy Should it be higher as there are other states andcountries that have a higher base salary for unemployment.
an excise tax may be imposed on a commodity in order to raise revenue for the government or in order to reduce the
1. what percentage of the gross national product is spent on healthcare in the u.s.? 2. identify the key drivers of
Suppose that rich countries surprisingly commit to much higher official aid, to be maintained for several decades. What would be the effect of such aid on?
A company is trying to provide goods and services to customers in a balanced customer benefit package CPB. Do you see any conflicts in a goods-producing versus service-providing way of thinking? Illustrate with examples.
What efforts have been made and by whom to promote alternative crops to peasants in Central and South America?
Calculate the consumer surplus, producer surplus, and total surplus
Harvard, Yale and Princeton all charge relatively high tuition. Still each uses ACT and SAT score as admission criteria. Are charging a relatively high tuition and using standardized test scores inconsistent? Explain your answer
Research unemployment and inflation. Use your course materials and the Internet for your research. Use the following to guide your research: Examine articles discussing unemployment and inflation rates within the last 12 months.
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