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- QUESTION 4 a. Explain any two process technologies for materials. b. Discuss any three factors that will help to determine the type of production process used. c. Distinguish between design capacity and effective capacity. Provide a brief example. d. Why is the capacity decision important? e. A regional bank training center has the physical ability to handle 1,300 participants. However, management personnel believe that only 1,100 participants can be handled effectively for most training sessions. The last training session, although forecasted to have 1,000 participants, resulted in the attendance of only 990 participants. Calculate the utilization and efficiency of the training facility.1. Visualizing average costs and marginal costs as a slope? Take an example 2. Long run average total cost curve? Take an example 3. Minimium efficient scale and market concentration? Take an example1.Prepare a table with MC, ATC, AVC and AFC curves. Be sure to INCLUDE NUMBERS IN YOUR GRAPH. ALSO, PLOT THE CURVES Please create a picture illustration using the provided instructions. Example numbers may be used to complete the question. Please include details as I need an understanding of the material. If you don't understand the question skip it please.
- What are ways the profit arises in the changeable/dynamic word ? Comment2b statements is true or false and explain If marginal cost is larger than average cost, average cost will fall as output increases.What economic principle explains why average variable costs and marginal costs initialy decrease as output increases?
- 1. Which of the below is not a question to ask ourselves when designing a product? Customer-requested functions What current products can do The constraints of the materials Cost of service produced4. Which of the following industries do you think are likely to exhibit large economies of scale? Explain why in each case. a. Home building b. Electric power generation c. Vegetable farming d. Software development e. Aircraft manufacturing с.Costs and Profit Maximization: Work It Out 1 Suppose Margie decides to lease a photocopier and open up a black-and-white photocopying service in her dorm room for use by faculty and students. Her total cost, as a function of the number of copies she produces per month, is given in the table. Number of Photocopies Per Month Total Cost Fixed Cost Variable Cost Total Revenue Profit 0 $100 1,000 $110 2,000 $125 3,000 $145 4,000 $175 5,000 $215 6,000 $285 a. Fill in the missing numbers in the table, assuming that Margie can charge 6 cents per black-and-white copy. Margie's fixed cost is: $ Variable cost, 0 photocopies/month: $ Variable cost, 1,000 photocopies/month: $ Variable cost, 2,000 photocopies/month: $ Variable cost, 3,000 photocopies/month: $ Variable cost, 4,000 photocopies/month: $…
- 3. The company that you manage has already spent $8 million on developing a new product – awebsite that combines You Tube, Twitter, and Facebook – called You Twit Face. Thedevelopment is not quite finished. It will cost an extra $2 million to finish development andcomplete the product. Assume that this $2 million amount includes the explicit costs and anyopportunity cost that the company may have. At a recent meeting, your salespeople report thatthe expected sales of your new product (if you finish) are $6 million total. If you do not finishdeveloping the product you can sell the incomplete product to another company for $2 million. What is the MC of finishing the development? __________________ What is the MB of finishing the development? __________________ Should you finish the product? Why or why not? Use the idea of “thinking at the margin” toexplain your answer. Need details explanation3. Using a stylized graph illustrate productive versus allocative efficiency (see Figure 2.4 in the textbook). 4. Graphically illustrate the combined circular flow diagram and label completely.Provide details/explanations of your solutions,indicate any formulas you are using and clearly show your work.