Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
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Chapter 15.1, Problem 5Q
To determine
Explain the output between two digit and four-digit industry.
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A company manufactures Products A, B, and C. Each product is processed in three departments: I, II, and III. The total available labor-hours per week for Departments I, II, and III are 1020, 1080, and 900, respectively. The time requirements (in hours per unit) and the profit per unit for each product are as follows.
Product A
Product B
Product C
Dept. I
2
1
2
Dept. II
3
1
2
Dept. II
2
2
1
Profit
$18
$12
$15
If management decides that the number of units of Product B manufactured must equal or exceed the number of units of products A and C manufactured, how many units of each product should the company produce to maximize its profit?
57) "If an industry's minimum efficient scale is between 2,000 and 4,000 units of output, then a firm producing
2,000 units of output in that industry has a cost-saving advantage over another firm producing 4,000 units of
output in the same industry." Do you agree or disagree? Explain.
58) Why are there so many more proprietorships than corporations, yet corporations account for so much more of
the sales of business firms in the country?
Round off your final answer to whole #.
A company produces and sells a consumer product and is able
to control the demand by varying the selling price. The approximate relationship between price and demand is
2700
5,000
p=47 +
-forD>1
D
D²
The company is seeking to maximize its profit. The fixed cost is $1,000 and the variable cost is $39 per unit.
What is the number of units that should be produced and sold each month to maximize profit?
Chapter 15 Solutions
Microeconomics
Ch. 15.1 - Prob. 1QCh. 15.1 - Prob. 2QCh. 15.1 - Prob. 3QCh. 15.1 - Prob. 4QCh. 15.1 - Prob. 5QCh. 15.1 - Prob. 6QCh. 15.1 - Prob. 7QCh. 15.1 - Prob. 8QCh. 15.1 - Prob. 9QCh. 15.1 - Prob. 10Q
Ch. 15 - Prob. 1QECh. 15 - Prob. 2QECh. 15 - Prob. 3QECh. 15 - Prob. 4QECh. 15 - Prob. 5QECh. 15 - Prob. 6QECh. 15 - Prob. 7QECh. 15 - Prob. 8QECh. 15 - Prob. 9QECh. 15 - Prob. 10QECh. 15 - Prob. 11QECh. 15 - Prob. 12QECh. 15 - Prob. 13QECh. 15 - Prob. 14QECh. 15 - Prob. 15QECh. 15 - Prob. 16QECh. 15 - Prob. 17QECh. 15 - Prob. 18QECh. 15 - Prob. 1QAPCh. 15 - Prob. 2QAPCh. 15 - Prob. 3QAPCh. 15 - Prob. 4QAPCh. 15 - Prob. 5QAPCh. 15 - Prob. 1IPCh. 15 - Prob. 2IPCh. 15 - Prob. 3IPCh. 15 - Prob. 4IPCh. 15 - Prob. 5IPCh. 15 - Prob. 6IPCh. 15 - Prob. 7IP
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