To Industries prepares monthly cash budgets.The following budget information is available for April and May 2020:     April   May   Sales   $650,000   $700,000   Direct material purchases   220,000   240,000   Direct labor   175,000   180,000   Manufacturing overhead   120,000   130,000   Selling and administrative expenses   […]

Explain how the insights of Friedrich Hayek, Joseph Schumpeter, and Adam Smith regarding business competition can be used to critique both perfect and monopolistic competition.  What is problematic about the MR = MC pricing formula deployed in neoclassical theory? A good essay will highlight the key theoretical aspects of each of these models of competition. […]

We are all aware that there are many natural resources, fossil fuels like coal, crude petroleum, mineral resources etc, which are essential inputs in modern manufacturing / production processes, and are available in limited stock (i.e., are exhaustible).   In this discussion please discuss the role of technology in efficient utilization of these exhaustible resources […]

Entrepreneurs are people who undertake the risk of business activity with the expectation of earning profit. Why is the role of the entrepreneur vitally important as a source of economic progress? How do entrepreneurs influence the discovery and development of new products and better ways of doing things?

Explain why pricing and production are extent decisions and not decisions that should be tackled with break-even analysis. Does the same apply for investment decisions? Provide a rationale to support your response.

In the fixed-price Keynesian model   a. wages, prices, rents and interest rates are flexible so that markets always clear.   b. there is no money illusion.   c. wages may be sticky so that involuntary unemployment may exist in labor markets.   d. supply creates its own demand.   e. none of the above […]

Producer Behavior   1. (Recall the assumptions of production) Following each part, determine which basic assumption of production is violated   a. The local coffee shop serves 400 customers per day with 8 employees, 420 with 9 employees, 450 with 10 employees while it keeps its size same, such as a number of seats.   […]

Labor Force Worksheet   http://juliogarin.com/files/textbook/GLS_Intermedi… textbook   Problem 1 Chapter 1-Exercise 2   Suppose the unemployment rate is 6%, the total working-age population is 120 million, and the number of unemployed is 3.5 million. Determine:   (a) The participation rate. (b) The size of the labor force.   (c) The number of employed workers. (d) […]

The sources of investment spending in Canada…   are only private saving   cannot be public saving because government’s run permanent deficit   include foreign saving   are only business retained earnings   Question 2   The monetarist explanation of the Great Depression in Canada argues   that money supply during the period was too […]

The costs associated with producing six widgets are as follows: .80 variable cost per widget and .10 fixed cost per widget. Using this information, complete the following calculations:   What is the total cost of producing six widgets? What is the average total cost of producing six widgets? If the variable cost of producing five […]