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An executive from a large merchandising firm has called your vice president for production to get a price quote for an additional 100 units of a given product. The vice president has asked you to prepare a cost estimate. The number of hours required to produce a unit is 5. The average labor rate is 12 per hour. The materials cost 14 per unit. Overhead for an additional 100 units is estimated at 50% of the direct labor cost. If the company wants to have a 30% profit margin, what should be the unit price to quote?
Under the assumptions of perfect competition:
a firm produces digital watches on a single production line serviced during one daily shift the total output of watches
Another group of economists, those who hold to the quantity theory of money, believe that V (the velocity of money) is predictable and otherwise unchangeable and that Q (the quantity of goods and services produced) is steady. Is their view of the eco..
Which diagram should use to explain third degree price discrimination relating to sub-prime borrower discrimination?
The combination of rational expectations and perfectly competitive markets is best reflected in which of the following models?
the ceo of always ready round tire has decided to open a battery division. he thinks that batteries would sell well
Compute the actual dollar annual worth of Machine B. Use an inflation-free MARR of 14 percent, an inflation rate of 6.5 percent per year, and a study period of 10 years.
An economy is currently made up of a firm that produces bread, a firm that produces butter, and a consumer who consumes both bread and butter. Current production is 100 units of bread, 50 units of butter which the consumed by the consumer.
you would like to determine if the average golf scores for women are different from the average golf scores for men. a
international trade has pros and cons. economists generally support free trade. international trade has played a
Calculate output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level and calculate these values at the profit-maximizing activity level. Explain your answers briefly
A company uses two variable inputs, labor (L) and materials (M), to produce its output. At the companys current level of output: CL = $10 / unit MPL = 25 CM = $2 / unit MPM = 4 a. Decide whether the firm is operating efficiently, given that its objec..
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