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A domestic producer of baby carriages, Pramble, buys the wheels from a company in the north of England. Currently the wheels cost $4 each, but for a number of reasons the price will double. In order to produce the wheels themselves, Pramble would have to add to existing facilities at a cost of $800,000. It estimates that its unit cost of production would be $3.50. At the current time, the company sells 10,000 carriages annually. (Assume there are four wheels per carriage.) a. At the current sales rate, how long would it take to pay back the investment for the required expansion? b. If sales are expected to increase at a rate of 15% per year, how long will it take to pay back the expansion?
Assume that the market for salad dressing is in equilibrium. What will happen to the price of lettuce rises.
Enlighten these concepts in terms of specialization, opportunity cost, trade as well as comparative advantage.
Illustrate what are the benefits also the costs. Under Illustrate what conditions would you advocate for trade restrictions.
Illustrate what economic cost will an owner of a family-run business or farm likely overlook when computing their "profits".
Illustrate what is micelles opportunity cost of producing potatoes and or chickens if she were to produce 200 pounds of potatoes per year and 50 chickens per year.
Suppose the Japanese yen price of one British pound is 163.78 yen for each pound. In which city hotel room is cheaper and by how much.
A shirt company spends $1,000 per week on rent for its factory. Each shirt made at the factory requires $2 worth of cloth and $8 worth of labour and energy. Illustrate what is the marginal cost of a shirt.
What describe the distribution of national salary among labor and capital in a competitive, profit-maximizing economy with constant returns to scale.
Using production theory, explain illustrate what will take place to the capital- labor ratio in both the short-run also the long run.
Describe Illustrate what will happen in this market as it moves to a new equilibrium. If a hard freeze eliminates Brazil's premium coffee crop, illustrate what will happen to cost of premium coffee.
What would happen to the position of the demand curve for dental services if patients had to wait even longer for an appointment with a dentist.
Elucidate the reason Explain why a competitive firm should stop producing immediately if the price is lower than the average variable cost.
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