am. 156. 3. Suppose that a small country that has a local demand and supply for chocolates represented bythe following equations:Qa-10-0.6PQs = -4+0.8PAssume that the people of this country realize that their neighboring country sells boxes ofchocolates at a world price of $6 per box. NOTE: DO NOT round up to whole numbers if youranswers have decimals. Leave two decimals.a) Provide a graph for the chocolate market for the small country. Calculate the local price ofthe boxes of chocolates before trade and determine if this country will import or exportchocolate. Explain.b) Based on your answer in (a), if this country decides to import chocolates, what is the domesticquantity supplied, demanded, and imported? Calculate and place your answers on the graph.c) Calculate the consumer surplus, producer surplus, and total surplus before and after trade.Who would be considered a winner if the countries traded?d) Calculate the surplus transferred from the losers to the winners, overall gains from trade, andthe foreign producers' revenue after trade.

Answered: Image /qna-images/answer/4b4a1ec7-c744-4f97-8196-d9490871ef0b.jpg

Answered: 3. Suppose that a small country that…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1) A manufacturer of kitche. Appliances is preparing to set the price on a new blender. Demand is thought to depend on the proce qnd is represented by the following model. D= 2,800-4p The accounting department estimates that the total cost can be represented by the following model. C=4,700+5D Develop a mathematical model for the total profit of TP in terms of the price, P. A mathematical mod for the total profit in terms of the price P is TP= ______
An electronics company makes communications devices for military contracts. The company just completed a large contract. The Army contract was for 6808 devices that were produced by 43 workers in three weeks. Each worker worked 40 hours per week. What was the prductivity for the ARMY contact in devices per labour hour? (State your answer rounded to two decimal places)
ABC company creates specialty shipping bags that they sell to pharmaceutical companies across the globe. With their current equipment, ABC can produce 12,000 shipping bags for every 10 bundles of materials purchased. Every month (20 working days), ABC purchases 100 bundles of materials. Each bundle requires one (1) labor minute to process, and every labor hour costs an average of $14.00. Each week (5 working days), ABC pays $5,000 inoverhead costs, and equipment costs $600 a day to operate. (a). How many shipping bags does ABC produce in a standard month (20 working days)? Each workday (8 hours)? (b). What is the single-factor productivity for labor, per workday (8 hours)? Whatis the multi-factor productivity, for every dollar spent per shipping bag?
a bakery charges $ 1.50 for donuts , and $ 2.25 for its scones. one day the manager found out that 150 scones had been sold out , and the total recepits were $ 258. how many donuts and scones were sold?
Plz solve all parts Asap, i vll give positive feedback and upvote as well.
P = c + 1/(nxb). When the number of firms (n) in an industry is more thena. each firm's price level falls due to increased competitionb. the average cost of each firm rises because it produces lessc. each firm's price level rises as competition fallsd. the average cost of each firm falls as it produces more
Problem 6Cannes Croissants (not a real company) wishes to determine the optimum production quantity for its topselling product, almond croissants. The annual demandfor almond croissants is 12,000 units. The setup costs fora production run of the croissants is US$15. The holdingcost per unit per year is US$0.50. Production is mostefficient when 80 croissants are produced per day. Thecompany operates 300 days during a year.a What is the economic production quantity (EPQ)?b How many production runs will there by per year?c What is the maximum inventory level?d What is the total annual cost (in US dollars)?e What is the length of a production run in days?
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Use the following data to answer the next question. Output 10 20 30 arch 40 50 60 70 80 90 100 ATC-A $6 5 4 5 7 10 14 19 25 32 Multiple Choice ATC-B $13 9 6 4 3 A 5 7 10 16 e ATC-C $44 35 27 20 The letters A, B, and C designate three successively larger plant sizes. In the long run, the firm should use plant size "A" for the production of E 14 11 8 6 5 7 (?)^1

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