(a) If per capita annual income in the US increases from $60,000 to $70,000 over 2017-2027, and per capita poultry consumption increases from 110 to 125 pounds over the same period, calculate the income elasticity of demand for poultry in the US. What type of good is poultry for the US consumers? (5 points) (b) […]
At PlastiPharm, the extruded film, from which all the medical device bags are created, was purchased from one supplier for many years. The quality of the film was not consistent, with burnt areas or bubbles being the most common defects. Because of a patent, it was not possible to change suppliers. However, the patent recently […]
1. Consider the von Thunen’s model of land use. When the average lot size (S) increases and per unit per mile transportation costs (t) fall for a given sector like manufacturing, then: Group of answer choices: -the bid-rent curve flattens and the intercept term decreases so firms in that sector tend to move further from […]
The new equipment PlastiPharm purchased for its new expansion is programmed to measure deviation in material temperature, and a control chart was created to monitor variations. Why would the company want to have a control chart to monitor the process? Constructing a control chart helps build flexibility into the process and leads to reduced defective […]
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