Blues inc. manufactures jeans in the cutting and sewing process. jeans are manufactured in 40-jean batch sizes. the cutting time is 5 minutes per jean. the sewing time is 20 minutes per jean. it takes 2 minutes to move a batch of jeans from cutting to sewing. a. compute the value-added, non-value-added, and total lead time of this process. value-added lead time 25 minutes non-value-added lead time minutes total lead time minutes b. compute the value-added ratio. round to one decimal place.

What do economists mean when they use the latin expression ceteris paribus?

What is the best definition of a conclusion?

Consider how health insurance affects the quantity of health care services performed. suppose that the typical medical procedure has a cost of $160, yet a person with health insurance pays only $40 out of pocket. her insurance company pays the remaining $120. (the insurance company recoups the $120 through premiums, but the premium a person pays does not depend on how many procedures that person chooses to undergo.) consider the following demand curve in the market for medical care. use the black point (plus symbol) to indicate the quantity of procedures demanded if each procedure has a price of $160. then use the grey point (star symbol) to indicate the quantity of procedures demanded if each procedure has a price of $40. q d at p=$160 q d at p=$40 0 10 20 30 40 50 60 70 80 90 100 200 180 160 140 120 100 80 60 40 20 0 price of medical procedures quantity of medical procedures demand if the cost of each procedure to society is truly $160, the quantity that maximizes total surplus is procedures. economists often blame the health insurance system for excessive use of medical care. given your analysis, the use of care might be viewed as excessive because consumers get procedures whose value is than the cost of producing them.