You manage a plant that mass produces engines by teams of workers using assembly machines. The technology is summarized by the production functic anction q 10KL where q is the number of engines per week, Kis the number of assembly machines, and Lis the number of labor teams. Each assembly machine rents for r= $50,000 per week, and each team costs w= $6,000 per week. Engine costs are given by the cost of labor teams and machines, plus $5,000 per engline for raw materials Your plant has a fixed installation of 5 assembly machines as part of its design. The total cost of producing q units of output (TC) is ০ A. TC = 250,000 + 11,0009 O B. TC = 250.000 + 6,000() 5,000g 50 OC. TC= 250,000 + 6,000g OD. TC=6.000(+5.000q OE. TC - 6,000(0

You manage a plant that mass produces engines by teams of workers using assembly machines. The technology is summarized by the production functic anction q 10KL where q is the number of engines per week, Kis the number of assembly machines, and Lis the number of labor teams. Each assembly machine rents for r= $50,000 per week, and each team costs w= $6,000 per week. Engine costs are given by the cost of labor teams and machines, plus $5,000 per engline for raw materials Your plant has a fixed installation of 5 assembly machines as part of its design. The total cost of producing q units of output (TC) is ০ A. TC = 250,000 + 11,0009 O B. TC = 250.000 + 6,000() 5,000g 50 OC. TC= 250,000 + 6,000g OD. TC=6.000(+5.000q OE. TC - 6,000(0

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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At a price of $14, country 1 will (a) offer for export 9 units of this product. (b) seek to import 9 units of this product. (c) choose not to trade. (d) increase supply. (e) offer for export 18 units of this product
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There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed in the attached table. If the tenants have the right to be free of loud music enforced through a property rule, how many bands will play in Rock‐n‐Roll Bar on a Saturday night? A. Zero B. One C. Two D. Three E. It depends on transaction costs
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uestion 3 If you want to minimize interest payments on a loan, you'll need one that has a simple interest rate so that yo John opened an account, and knew exactly how much it would be worth at the end of the year, because it used year. What is simple interest? Oa. Interest only on original amount saved or borrowed Ob. interest on original amount saved, borrowed and other interest earned Oc. a fee paid for the use of someone else's money Od. taxes on the original amount saved or borrowed L A Moving to another question will save this response. →
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