MACROECONOMICS (LL)
21st Edition
ISBN: 9781260186949
Author: McConnell
Publisher: MCG
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Chapter 8, Problem 6P
To determine
Per unit cost of an application.
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The per-unit cost of an item is its average total cost (=total cost/ quantity). Suppose that a new cell phone application cost $ 100, 000 to develop and only $ 0.50 per unit to deliver to each cell phone customer.
Instructions: Round your answers to 2 decimal places.
A) What will be the per-unit cost of the application if it sells 100 units?
B). What will be the per-unit cost of the application if it sells 1,000 units?
C). What will be the per-unit cost of the application if it sells 1 million units?
Resource consumption per person in the United States is either flat or falling, depending on the resource. Yet living standards are rising due to improvements in technology that allow more output to be produced for every unit of input used in production. What does this say about the likelihood of our running out of resources? Could we possibly maintain or improve our living standards even if the population were expected to rise in the future rather than fall?
Resource consumption per person in the United States is either flat or falling, depending on the resource. Yet living standards are rising because of technological improvements that allow more output to be produced for every unit of input used in production. What does this say about the likelihood of our running out of resources? Could we possibly maintain or improve our living standards even if the population were expected to rise in the future rather than fall?
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