Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 10% of its output to Lumber, 70% to Energy, and retains the rest. Lumber sells 5% of its output to Mining, 50% to Energy, 25% to Transportation, and retains the rest. Energy sells 10% of its output to Mining, 15% to Lumber, 25% to Transportation, and retains the rest. Transportation sells 15% of its output to Mining, 20% to Lumber, 50% to Energy, and retains the rest. a. Construct the exchange table for this economy. b. Find a set of equilibrium prices for this economy. a. Complete the exchange table below. Distribution of Output from: Mining Lumber Energy Transportation Purchased by: Mining Lumber Energy Transportation (Type integers or decimals.) b. Denote the prices (that is, dollar values) of the total annual outputs of the Mining, Lumber, Energy, and Transportation sectors by PM, PL, PE, and PT, respectively. If p₁ = $100, then PM = $, P₁ = $, and pε = $. (Round to the nearest dollar as needed.)

A young chef is considering opening his own sushi bar. To do so, he would have to quit his current job, which pays $30,000 a year, and take over a restaurant space that he owns and currently rents to his brother for $24,000 a year. His expenses at the sushi bar would be $50,000 for food and $2,000 for gas and electricity. Suppose the sushi bar’s revenue from the first year is $120,000. What is the chef’s economics profit? 14,000 -14,000 66,000 68,000

What are the benefits and risks associated with just-in-time delivery of inputs to factories? Why do computer chip factories run continuously rather than maintaining some spare capacity? What is the underling economic concept that explains why 80 percent of the world's most advanced computer chips are produced by a single firm, Taiwan Semiconductor, rather than by many small firms? Just-in-time delivery of inputs to factories has benefits and risks. Identify which of the following are true. You may select more than one answer. Instructions: In order to receive full credit, you must make a selection for each option. For correct answers), click the box once to place a check mark. For incorrect answerts), click the option twice to empty the box. 5 33 It eliminates the costs associated with maintaining inventories of inputs If a single type of input is not delivered on time, a factory production line will have to be shut down. Inventories are easier to track and manage 33 Firms can more…

Goods and Services are exchanged and used As Final Consumption For Investment As Inputs in the production of other goods and services All of the above

Suppose the government passed a tax reform giving an investment tax credit to any firmbuilding a new factory or buying a new piece of equipment, please demonstrate

9. A Suppose another economy has two goods: iron and copper. The production of one unit of iron requires 0.1 units of iron and 0.2 units of copper. The production of one unit of copper requires 0.8 units of iron and 0.6 units of copper. What is the demand met by producing 50 units of iron and 40 units of copper? B. Using the same technology matrix as the previous problem, find the production schedule required to meet a demand of 200 units of iron and 100 units of copper.

Question 1: A company makes two types of calculators, one that uses batteries and one that is solar powered. The production of each battery-operated calculator involves 1 hour on Machine A, 2 hours on Machine B, and 1 hour on Machine C. The production of each solar powered calculator involves 2 hours on Machine A, 1 hour on Machine B, and 1 hour on Machine C. The company can use Machine A for a total of 14 hours, Machine B for a total of 20 hours, and Machine C for a total of 9 hours. If the company can earn a profit of $3 for each battery powered calculator and $8 for each solar powered calculator, how many of each should it produce to maximize profit? What is the maximum profit it can earn? Question 2

Assume that an economy is based on three industrial sectors: agriculture (A), building (B), and energy (E). The technology matrix M is: A BE uarruarruarr (4 [0.6 0.2 0.1 0.4 0.1 0.1 0.4] 0.1 0.1 B 0.1 M How much input from A, B, and E are required to produce a dollar's worth of output for B? How much input from A is required to produce a dollar's worth of output for B? How much input from B is required to produce a dollar's worth of output for B? How much input from E is required to produce a dollar's worth of output for B ? Assume that an economy is based on three industrial sectors: agriculture (A), building (B), and energy (E). The technology matrix M is: A BE ↑ ↑ ↑ A-> 0.6 0.2 0.1 B-> =M 0.1 0.4 0.1 E-> 0.1 0.1 0.4 How much input from A, B, and E are required to produce a dollar's worth of output for B? How much input from A is required to produce a dollar's worth of output for B? How much input from B is required to produce a dollar's worth of output for B? How much input from E…

The Chief Executive Officer of Dar Al Herfya (World of Handicrafts) spends her days contacting potential clients and setting up meetings in which she explains the salient features of the hand-made products she sells and their role in sustaining the rural economy in Oman. Her hectic schedule has not diminished her enthusiasm a bit. “This has been my routine for the last three years. You have to work hard if you have a mission,” says Zuwaina of her pet project. In 2012, Zuwaina relinquished her top corporate job, and all the perks that went with it, to launch her own company with the goal of promoting traditional Omani handicraft. “I worked with Omran as director of branding, and Omantel as senior manager of branding and communication. During my stints, I observed that corporate gifts never reflected Oman’s cultural identity. It prompted me to do an independent market research to learn about the alternatives available. It culminated in the launch of Dar Al Herfya,”…

The Chief Executive Officer of Dar Al Herfya (World of Handicrafts) spends her days contacting potential clients and setting up meetings in which she explains the salient features of the hand-made products she sells and their role in sustaining the rural economy in Oman. Her hectic schedule has not diminished her enthusiasm a bit. “This has been my routine for the last three years. You have to work hard if you have a mission,” says Zuwaina of her pet project. In 2012, Zuwaina relinquished her top corporate job, and all the perks that went with it, to launch her own company with the goal of promoting traditional Omani handicraft. “I worked with Omran as director of branding, and Omantel as senior manager of branding and communication. During my stints, I observed that corporate gifts never reflected Oman’s cultural identity. It prompted me to do an independent market research to learn about the alternatives available. It culminated in the launch of Dar Al Herfya,”…