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If 200 labor hours were required to produce the 1st unit in a production run and 60 labor hours were required to produce the 7th unit, what was the learning-curve rate during production?
When the marginal product of an input if larger than average product, at a particular level of the input, it must be that average product is increasing.
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Consider the following examples of economic activities:
Suppose that the Law of Demand is violated – that is, suppose that the Demand curve for a particular good is upward sloping. Suppose that the Law of Supply still holds so that the Supply curve is also upward sloping. This results in two cases, depend..
Students will develop cost curves on which firm behavior is based and will utilize these cost curves to determine the behavior of their chosen organization in the market served.
Maintenance costs on a certain piece of equipment are estimated to be $500, $600, $700, $800, and $900 at the ends of years 1, 2, 3, 4, and 5, respectively. The time value of money rate is 8 percent compounded annually.
At what price would no caps be sold? Calculate the price elasticity of demand at a price of $6
Assume you have a customer who would like to track inventory including vendor (where the product comes from) and customer (who the product is sold to). What needs to be done to create this database?
A nation that imposes tariffs on imported goods may find its welfare improving should the tariff result in a favorable shift in the terms of trade. Explain
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
At 10$ per pizza, 100 pizzas were demanded. At 9$ per pizza, 125 pizzas were demanded. When the price of pizza falls from $10 to $9 what is the price elasticity of demand?
Describe how a Lorenz curve might be used to describe healthcare resources in a region.
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