Other Economics Answers

Describe how and why the multiplier and the interest sensitivity of aggregate demand affect the slope of the IS curve

The Chatham Company makes chemical compounds in a single processing department. The following information about equivalent units and actual costs for July 19-7 is available. Direct Materials Conversion Costs Equivalent Units Total Costs Equivalent Units Total Costs Work in process, July 1* 20,000 $ 120,000 14,000 $ 140,000 Work done during July 19-7 30,000 210,000 28,000 301,000 To account for 50,000 $ 330,000 42,000 $ 441,000 Completed during July 19-7 34,000 ? 34,000 ? Work in process, July 31† 16,000 ? 8,000 ? * Degree of completion: direct materials, 100%; conversion costs, 70%. † Degree of completion: direct materials, 100%; conversion costs, 50%. REQUIRED: Summarize total costs to account for, and assign these costs to units completed (and transferred out) and to units in ending work in process using the weighted-average method.

1.       Explain the effect on the production of ice cream, if the price of raw milk decreases.

evaluate the advantages and disadvantages to a mobile phone manufacturer of internal growth? 12marks

given two goods named Omega & Alpha, with Omega along the vertical axis, and Alpha on the horizontal. Assume that the budget is constant at 100 pesos, the price of good Omega is fixed at 5 pesos. If the price of alpha changes from 1 peso to 2 pesos. What is the direction of change of quantities bought of alpha price increases

In a perfect market structure, if a given firm faces average variable cost (AVC);

AVC = 1/3Q²- 9/2Q² + 20

A. Determine the level of output at the minimum level AVC

B. what is the minimum price the firm willing to supply?

c. What is the loss of the firm at the minimum price level if the total fixed cost is 50birr?

D. If the price level is 3.5birr does the firm shut down the business or continue production?

Assume a wheat producing farmer engaging in selling its product under perfect competition market faces cost functions as TC= Q3 -2Q2 +8Q and Average revenue of the farmer is given as Birr 8. Having this information, A. Determine the optimal level of output and price in the short run. B. Calculate the economic profit (loss) the farmer will obtain (incur) C. What will be the minimum price level the farmer gets to continue in wheat production?