1) The user cost of extracting a nonrenewable resource is A) the sum of the dollar expenditures incurred to extract the resource. the cost of not being able to extract it in the future if it is extracted and sold in the present. B) C) the selling price of the resource to the companies using it to produce goods and services. D) directly proportional to how much of the nonrenewable resource remains.

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Define the concept of free disposal of inputs.Does it apply anywhere in this problem?

_____ are the costs of an item in terms of dollar amount.         Non-monetary costs         Production costs         Monetary costs         Opportunity costs

The operating budget of the Western Robotics Company was $300 million last year. If the operating budget this year is 12 percent less than last year, what is this year’s operating budget? Answer $_______ million.

Stuck on question for hours. Question in Image attachment. Thanks for your help :)

Down the street from the dairy farm is a farmer with a pumpkin patch. Every season he produces pumpkins according to f(a,l) = 9a²/31!/3 where a is acreage and l is farm labor. He owns the land, but he does pay property tax T * a on his land. He can hire laborers at a wage rate of $12. He has already spent $200 on pumpkin seeds, and because of crop rotation, has exact acreage a he can use for pumpkins. What is the short run demand for labor?

What are economic costs? Group of answer choices Any contractual obligation that results in a flow of money expenditures from an enterprise to resource suppliers. All costs exclusive of payments to fixed factors of production. A payment that must be made to obtain and retain the services of a resource. Any contractual obligation to labor or material suppliers.

Q19

The yearly demand for a widget is 5000 units. The cost of ordering is $100 per order and the cost of holding is $4 per unit per year. The widget was ordered in batches of 1000 units and the firm changes the policy to order as per the economic order quantity. What is the saving in total inventory related costs because of the change in the ordering policy? (Inventory related costs include holding and ordering costs)