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Question: The Plant Department of the local telephone company purchased four special pole hole diggers 8 years ago for $14,000 each. They have been in constant use to the present. Owing to an increased workload, additional machines will soon be required. Recently an improved model of the digger was announced. The new machines have a higher production rate and lower maintenance expense than the old machines but will cost $32,000 each with a service life of 8 years and salvage value of $750 each. The four original diggers have an immediate salvage of $2000 each and an estimated salvage value of $500 each 8 years hence. The average annual maintenance expense of the old machinesis about $1500 each, compared with $600 each for the new machines. A field study and trial show that the workload would require three additional new machines if the old machines continue in service. However, if the old machines were all retired from service, the workload could be carried by six new machineswith an annual savings of $12,000 in operation costs. A training program to prepare employees to run the machines will be necessary at an estimated cost of $700 per new machine. If the MARR is 9% before taxes, what should the company do?
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
Case study analysis about optimum resource allocation: - Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..
Questions: : Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month? Explain your choice.
Problem - Total Cost, Average Cost, Marginal Cost: - Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)
Problem based on Oligopoly and demand curve, Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?
Explain the impact of external costs and external benefits on resource allocation; Why are public goods not produced in sufficient quantities by private markets? Which of the following are examples of public goods (or services)? Delete the incorrec..
Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..
Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:
Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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