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A firm with two factories, one in Michigan and one in Texas, has decided that it should produce a total of 500 units to maximize profit. The firm is currently producing 200 units in the Michigan factory and 300 units in the Texas factory. At this allocation between plants, the last unit of output produced in Michigan added $5 to total cost, while the last unit of output produced in Texas added $3 to total cost. Is the firm maximizing profit? If the firm produces 201 units in Michigan and 299 in Texas, what will be the increase (decrease in the firm's total cost?
Each Home Depot store must decide how much paint to order each month. From historical records, they know that the amount of paint they sell during May is distributed as follows: th
with the help of a graph, explain factors that may cause a shift in the balance of payments
Once we have monthly data on a price index we can evaluate the inflation. In most nations, the percentage change in price index during one month is small. Hence it is more common t
If a firm wants to sell goods more often, would they prefer to produce a high quality good that will not wear out or one that will wear out faster. For example, what is the 'life e
What is the meaning of Deindustrialisation Deindustrialisation or structural decline of many manufacturing industries along with activities like coal mining is associated with
multiplier static and dynamic
The Red Lobster sells fresh seafood. Red Lobster receives daily shipments of farm-raised fish from a nearby supplier. Each fish cost $2.50 and is sold for $4.00. To maintain its re
Problem 1 a. Define ERP. Explain the terminology related to ERP. b. How ERP evolved in a system? a. Definition. >>Description on point of sale, MRP-I, MRP-I
construct the supply and demand curves for rental housing, indicating equilibrium rent and quantity. Show the effects on this market( i.e., on supply, demand, equilibrium rent and
Examine the efficiency of quanttitative credit control instrument
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