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Assume that 5 surgeons can perform a total of 12 heart bypass operations per day. If each surgeon is paid P24,000.00 per day and the medical firm's total fixed cost is P650,000.00, what is the average cost of the output produced (operations performed) by 5 surgeons?
Linus has a utility function U( x, y,) = x + 3y. Draw an indifference curve passing through the point (x ,y) = (3, 3), then draw an indifference curve connecting ever bundle such that U = 6. What is an equation the describes Linus's budget if px= 1, ..
What is a subprime loan? How do subprime loans differ from standard loans? Bespecific. How do lending standards for subprime loans differ from standard loans?
Using short-run cost theory, explain the impact of this additional patient on the SAVC and SATC. Do they increase or decrease.
Suppose as to what might be the four firm concentration ratio for corn growers in the US
Yummy foods, a gourmet food store, has stores all over the Chicago area. They have a reputation for undercutting prices of any competitor that tries to enter the market until the competitor is driven out of business. Which of the following statements..
Consider the economy of Arcadia. The households of Arcadia spend 90% of their income. There are no taxes and no foreign trade. The currency of Arcadia is called “Arcs”. The level of potential output in Arcadia is 700 billion arcs. Suppose that actual..
After graduation you face a choice. One option is to work for a highly regarded consulting firm and earn a starting salary (benefits included) of $55,000. The other option is to use $12,000 you have in savings to start your own consulting firm. Based..
Let us suppose that the consumer is choosing between beer and milk. The consumer will always prefer beer to milk. However, if the consumer has two choose between two consumption bundles having equal amounts of beer and different amounts of milk, then..
Macroeconomics: How does government borrowing crowd out investment? What is the relationship between government borrowing and budget deficits?
Assume that Home can produce two goods, apples and bananas. The unit labor requirement in apple production is 4, while it is 2 in banana production. Foreign’s unit labor requirement for applies is 8 and it is 2 for bananas. If these countries trade, ..
The stockroom will also be adjusting its weekend hours; so beginning on the first of next month, Saturday orders will only be filled between the hours of 8 a.m. and 12 p.m. The stockroom will be closed Saturday afternoons and Sundays.
In an attempt to bring lenders and borrowers together following the financial crisis of 2008, the federal reserve made a large amount of new funds available to financial markets. Any of these loaned out by banks would be classified as __________ of t..
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