In a given year, suppose a company spends $100 million on intermediate goods and $200 million on wages, with no other expenses. Also assume that its total sales are $800 million. The value added by this company equals a. $700 million. O b. $300 million. O c. $500 million. d. $200 million. O e. $800 million. Clear my choice

In a given year, suppose a company spends $100 million on intermediate goods and $200 million on wages, with no other expenses. Also assume that its total sales are $800 million. The value added by this company equals a. $700 million. O b. $300 million. O c. $500 million. d. $200 million. O e. $800 million. Clear my choice

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Table 1 - Labor and output data Units of Labor Units of Output 0 0 1 15 2 38 3 62 4 75 In Table 1, which unit of labor starts the law of “diminishing” returns? Include any equation formula if any. Answers: A. 3rd B. 4th C. 2nd D. 1st
Question 15 The business cycle measures O a) short-run fluctuations in economic activity. O b) fluctuations in consumption. Oc) fluctuations in the profit of businesses. d) fluctuations in the average tax rate paid by businesses. fluctuations in the long-run trend growth rate of gross domestic product (GDP).
How does a lump sum tax affect the fixed costs and variable costs of a producer? Select one: a. A lump sum tax does not affect fixed costs but it does increase variable costs. O b. A lump sum tax decreases both fixed costs and variable costs. O c. A lump sum tax increases fixed costs but it does not affect variable costs. O d. A lump sum tax increases both fixed costs and variable costs.
Suppose that the production function for the economy is Y = AKPLU5. If the capital stock = 40,000, the quantity of labor = 10,000, and the efficiency index = 3, the equilibrium real wage is O A. $3. O B. $4.50. OC. $9. O D. $16.67.
None
7. The three basic inputs of MRP are: 1) the bill of material; 2) inventory on hand, open orders and lead times; and 3) planned order releases. True False
1
10 Workers per day (b) Marginal product Marginal product 10 Workers per day Refer to Exhibit 7.1, which shows the total product and marginal product produced by a firm. Between three and seven workers, O a. marginal product is negative and total product is rising. b. marginal product is falling but still positive, and total product increases by decreasing amounts. O C. marginal product is negative and total product is falling. O d. marginal product equals zero and total product is at a maximum. e. marginal product is rising and total product increases by increasing amounts. Marginal product (tons/day) Total proc
.Suppose that a business incurred implicit costs of $200,000 and explicit costs of $1 million in a specific year. If the firm sold 4,000 units of its output at $500 per unit, its accounting profits were?
Output per worker ($ thousands) 0 Select one or more: 0 Capital equipment per worker ($ thousands) Which TWO of the following statements are correct? O a. The slope of the function is the marginal product of capital. b. The figure shows that each extra $ of capital per worker raises output per worker by an equal amount. ✔ C. The function is "convex" (L.e. it has a slope which increases as capital per worker rises). Od. The figure shows that higher capital per worker increases output per worker. Production function
Dead capital is Select one: O A. useful only if employed in a labor-intensive production process. O B. useful only if employed in a capital-intensive production process. O C. unlikely to have any productive use. O D. unlikely to be applied to its most efficient use.
16. As more and more of the factor of production is used The total product curve rises rapidly at first because product rises and then more slowly because a. Permanent; average; the average product decreases b. Variable; average; average product reaches a maximum c. Permanent; marginal; marginal product reaches a maximum d. variable, borderline; marginal product decreases