Chapter 11 Use the following to answer questions 1-2: Table: Barrels of Oil Barrel of Oil Produced 1 2 3 4 5 6 7 8 9 10 Total Revenue $50 100 150 200 250 300 350 400 450 500 Total Cost $4 10 21 38 61 90 126 176 266 390 Price $50 50 50 50 50 50 50 50 50 50 1. (Table: Barrels of Oil) Refer to the table. How many barrels of oil should the company produce to maximize profit? A) 6 B) 7 C) 8 D) 9 2. (Table: Barrels of Oil) Refer to the table. What is the marginal revenue of producing the fifth barrel
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"I am a sort of collector of religions‚" remarks Adolphus Cusins‚ Major Barbara Undershaft ’s fiancé‚ midway through the second act of George Bernard Shaw ’s morality play‚ Major Barbara. And thus‚ the play can be seen as collection of varying religious‚ moral‚ and social ideals. The play centers on Barbara Undershaft and her father Andrew Undershaft‚ a Salvation Army Major and a millionaire arms dealer respectively‚ and there conflicting ideological beliefs. However‚ Shaw also creates the character
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be tested in the 250+ stores within the South Florida market. This test market is ideal because it mirrors the national market for urban stores. new product I am suggesting is an all in one lunch aimed primarily at the company’s fresh foods. Consumers will be able to pick a sandwich‚ chips‚ and fresh desert priced at $7.11. This will save cost of packaging a new product‚ and allow for customization of the meal. Coffee will also be 11 cents less from 11 am to 7 pm to try and bring sales in through out the day
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advantage of the resources of the host country to better the home country. Such action has produced a vile reaction from many scholars. Onimode 1982‚ a Nigerian economic scholar said MNE are monsters that have constantly and steadily crippled the Nigeria economy. MNE in Nigeria have the protection and support of the Nigerian government which has lead to the
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Introduction to India & Indian Economy: India is the seventh largest country by area‚ the second-most populous country with a population of over 1‚241‚491‚960 people. India is surrounded by three-water bodies namely Indian Ocean on the south‚ the Arabian Sea on the west‚ and the Bay of Bengal on the east. India shares its border with 7 countries namely Pakistan‚ China‚ Nepal‚ Bhutan Afghanistan‚ Burma and Bangladesh. India is a democratic country and is governed under a parliamentary system consisting
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almost six years‚ the world economy has entered a period of uncertainty due to a financial turmoil triggered by the subprime mortgage crisis in the United States of America (USA). During 2002 to 2007‚ the world economic growth averaged 4.5 percent per annum compared to 3 percent in the 1990s. The sudden gloom in world economic prospects has come as a surprise in view of the persistent economic growth and stability. The crisis initially affected advanced economies and then its contagion spread
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Command Economy: Mountainous Politicians‚ countries and ideologies from all over the world have been torn for years between what they should follow and believe. Countries argue over which policies should be adopted been the economist’s fundamental question. What would life be like if the country you lived in targeted equality- to live in a country where all people are equal‚ all are treated the same‚ and all are one? People desire to live in a place where social class is not an issue and money
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Underground economy The underground economy or black market is a market where all commerce is conducted without regard to taxation‚ law or regulations of trade. The term is also often known as the underdog‚ shadow economy‚ black economy‚ parallel economy or phantom trades. In modern societies the underground economy covers a vast array of activities. It is generally smallest in countries where economic freedom is greatest‚ and becomes progressively larger in those areas where corruption‚ regulation
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| |February 2‚ 2013 | BUSINESS IN THE ECONOMY To understand how a business affects the economy we must first understand the meaning of what a business is by definition. A business is “an organization or enterprising entity engaged in commercial‚ industrial or professional activities”. (Investopedia‚ 2013) A business
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a parliamentary system‚ proportional representation and universal suffrage. The Prime Minister serves as head of government and the Knesset serves as Israel’s unicameral legislative body. Israel has one of the highest life expectancies in the world. The economy‚ based on the nominal gross domestic product‚ was the 41st-largest in the world in 2010‚ with a very high standard of living‚ which is the highest in the Middle East. Israel’s financial centre is Tel Aviv‚ while Jerusalem is the country’s most populous
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