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Future production requirements in the turret lathe department must be satisfied through the acquisition of several new machines and the hiring of new operators, the exact number to be determined. There are three new parts that will be produced. Part A has annual quantities of 20,000 units; part B, 32,000 units; and part C, 47,000 units. Corresponding standard times for these parts are 7.3 min, 4.9 min, and 8.4 min, respectively. The department will operate one 8-hour shift for 250 days/yr. The machines are expected to be 98% reliable, and the anticipated scrap rate is 4%. Worker efficiency is expected to be 100%. How many new turret lathes and operators are required to meet these production requirements?
Nobel Laureate Paul Samuelson said that comparative advantage is one of the few ideas in economics that is both "true and not obvious." Since it's not obvious, we should practice with it a bit. In each of the cases below, who has the absolute adva..
How did Greece end up in their debt crisis they are in today? Additionally, what steps is the Greek government taking to manage their debt? Even though they have received bailouts and emergency loans, why are they still in debt? Lastly, why don't oth..
Mr mohamed's budget line relating to goods X and goods Y has intercepts of 50 units of goods X and 20 units of goods Y. If goods X is dollar 12
Explain how specifically does this information affect your desire to sign a two-year contract with Toy Yachts R Us.
suppose the firm is facing an output constraint - specifically , the maximum allowable output is 480 units - that is Q
1. occurs when a firm cuts prices below production costs in a deliberate attempt to drive competitors out of business.
Suppose that they are thinking of each specializing completely in the area in which they have a comparative advantage, and then trading at a rate of 2.5 pounds of potatoes for 1 chicken, would they each be better off? Explain.
In your own words, describe the meaning of average cost. You normally buy a crate of wine for $75. One crate has 6 bottles of wine. After a month, the store clerk informs you that the same crate of wine now costs $82. However, there are 7 bottles in ..
short run profit maximization a monopolistically competitive firm faces the following demand and cost structure in the
It is impossible to select as BMW's and laser printers are fundamentally different goods with different purposes.
The Law of Supply movement along the curve due to the price effect occurs because people can buy only so much of a product.
You are a budget analyst in a California State legislative budget committee and have been asked to prepare a policy brief on the budget issue for the state.
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