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Sally purchases hardwood lumber for a custom furniture-building shop. She uses three suppliers, Northern Hardwoods, Mountain Top, and Spring Valley. Lumber is classi ed as either clear or has defects. Sally estimates that defects constitute 10% of the lumber pile. A recent analysis of the defect lumber pile showed that 30% came from Northern Hardwoods and 50% came from Mountain Top. Analysis of the clear pile indicates that 40% came from Northern and 40% came from Spring Valley. What is the percent of clear lumber from each of the three suppliers? What is the percent of lumber from each of the three suppliers.
Consider a perfectly competitive firm whose minimum average total cost is $100. This firm is representative of all the firms in the market. If the market price is $80, then in the long run. market supply will fall. new, more-efficient firms will be a..
Congress cannot dictate how many workers industries hire at mandated wage. Given this fact, Illustrate what are effects of this law. Specifically, illustrate what happens to employment, output and total amount earned by workers.
illustrate the effect of capital formation by comparing the product posibility curves,at the present time and ten years in the future for two economies,one with a high and the other with a lowrate of capital formation.
From the College Scorecard, average costs of attending UCR is $13,144. Average salary for UCR attendees is $48,700. Average salary of someone who does not attend college is roughly $33,800 ($651/week from slides x 52 weeks). Suppose everyone retire..
If a firm has market power and marginal cost is constant relative to perfect competition:
What are the characteristics of the 4 market structures (# of sellers, barriers to entry, pricing strategy, product differentiation, and examples of each)?
What is the probability that the age of a randomly chosen house in NewAcres is:
Identify two to three posts or threads that impacted your learning and understanding of the content the most. Explain why you chose these posts/threads.
q.use the following graph for yolandas frozen yogurt stand to answer the questions that follows.a. to compute the price
A consumer is deciding how many cups of coffee and how many bus tickets to purchase. The price of a bus ticket is $1.50 and the price of a cup of coffee is $2. The following table describes the total utility derived from the two goods. Calculate the ..
Table 1 is a payoff matrix for Harvard and Yale. They were recently caught colluding on tuition rates and can no longer confer on rates. The payoff matrix describes the tuition revenues they will each receive by charging high or low tuition rates. Wi..
If a person is selling apples in a perfectly competitive market with a price of $2 per pound, what is total revenue and marginal revenue at the 100th pound.
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