Katniss works for the Panem Bureau of Economic Analysis. Panem produces three goods: bread and axes, as well as wheat, which is used to make bread. The table below records the quantities and market prices of each good produced in 2020. Good produced Quantity Market price (in dollars) bread 7,000.00 loaves 10.00 wheat 1,750.00 bushels 2. axes 500.00 axes 100.00 Assuming Panem does not produce anything else in 2020, GDP is equal to $
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Cherokee inc. is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.
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Suppose either computers or televisions can be assembled with the following labor inputs: units produced 1 2 3 4 5 6 7 8 9 10 total labor used 3 7 12 18 25 33 42 54 70 90 (a) draw the production possibilities curve for an economy with 54 units of labor. label it p54. (b) what is the opportunity cost of the eighth computer? (c) suppose immigration brings in 36 more workers. redraw the production possibilities curve to reflect this added labor. label the new curve p90.
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Katniss works for the Panem Bureau of Economic Analysis. Panem produces three goods: bread and axes,...
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