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A company produces two main products: electronic control device3s and specialty microchips. The average total cost of producing a microchip is $300; the firm sells the chips to other high-tech manufacturers for $550. Currently, there are enough orders for microchips to keep its factory capacity full utilized. The company also uses its own chips in the production of control devices. The average total cost (AC) of producing such a device if $500 plus the cost of two microchips. (Assume all of the $500 cost if variable and AC is constant at different output Volumes). Each control device sells for an average price of $1,500.
Should the company produce control devices? Is this product profitable?
Calculate the expected level of demand in a typical market. Indicate the range within which actual demand is expected to fall with 95% confidence.
What is likely to happen to the number of gliders sold if Emerson follows company policy and raises the glider price to that calculated in part b?
Consumption accounts for about 60% of GDP, while investments accounts for about 20% for GDP. But many economists think that, to understand economic recession, it is more significant to look at investment than consumption. Why?
Consider a competitive market for which the quantities demanded and supplied (millions per year) at various prices are given as follows:
Explain why the authors cite ethnically segmented markets as a factor that holds back private sector development and building entrepreneurial capacity.
Dell Electronics just stumbled upon a new supplier of personal computer (PC) circuitry in Costa Rica that can supply standardized computer inputs at $70 per PC.
Indicate whether each of the following statements is true, false, or uncertain, and explain your answer.
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?
Given table of data comprising real GDP and its components over a number of years, compute compound annual percentage changes in real GDP (economic growth) and compute the shares in real GDP of consumption.
Vera is an impoverished graduate student who as only $100 a month to spend on food-Explain why Vera's preferences are of a very special type here. How would you graph them?
Evaluate the range of marginal revenues
With the help of an AD-AS diagram, explain the effect on the price level and real GDP. Use an upward sloping AS curve and be clear about the interconnections among markets.
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