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A pizza parlor has the following production costs: $4.00 in labor per pizza, $2.00 in ingredients per pizza, $0.11 in electricity per pizza, $2,000 in restaurant rent per month, and $250 in insurance per month. Assume the pizza parlor produces 9,000 pizzas per month. 1. What is the total variable cost of pizza production (per month)? 2. What is the total fixed cost of production (per month)?
If you were to take the position of a supply-sider which is a proponent of supply-side economics, illustrate what tool of Supply-side economics do you believe would help promote economic growth In the United States given today’s economic environ..
Explain is it possible for the new long-run equilibrium price to be above the original long-run equliibrium price.
We discussed alternative views of GDP from the perspectives of expenditure, income and production. What are the basic differences in these approaches? why do they add to the same total for GDP?
What do you think of the No Child Left Behind Act, especially its requirements that schools test their students annually? Do you think these test are accurate indicators of school quality? Do you see any problems associated with the testing programs?
Edmund has the utility function U(x, y) = 2xy + 1. The prices of x and y are both $1 and Edmund has an income of $20. How much of each good will he demand? A tax is placed on x so that it now costs Edmund $2 while his income and the price of y stay t..
There are three retirement plans under development. Each plan has a 6% compounded monthly and you cannot take a withdrawal until year 20. One plan requires a payment of X/year for the next 10 years. The other requires a payment of Y each year from ye..
Elucidate how important is a rapidly expanding domestic market in Alibaba.com's strategic assessment
How one should go about assessing the performance of the U.S. economy. You are being asked to identify specific metrics or measuring sticks that you believe should be noted and/or analyzed in order to arrive at an accurate reading of how the economy..
Small mistakes are the stepping stones to large failures. How might this saying apply to the simple model of the firm and marginal analysis? Do you agree? In your responses
Illustrate what is the products price after the imposition of the tariff. what is the domestic value added before and after the imposition of the tariff.
In December 1994 a man in Ohio decided to deposit all of the 8 million pennies he’d been saving for nearly 65 years. (His deposit weighed over 48,000 pounds!) With a reserve requirement of 12.5 percent, what will be the cumulative change for the bank..
What are the basic elements of health insurance? Define and discuss these elements. For example, what are risk and uncertainty and why are they important concepts in health insurance? What are the benefits and drawbacks to having employers as the pri..
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