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Mrs. Siegal has two alternative activities to help relieve her backache. In the first, she can visit a physiotherapist. The total time for a physiotherapist visit, including travel and waiting, is two hours. Mrs. Siegal earns a wage of $20 an hour. Physiotherapists charge $50 per visit, and Mrs. Siegal does not have any health insurance. As a second alternative, Mrs. Siegal can take pain killers. Each pill costs 50 cents, and Mrs. Siegal needs to take 30 pills per month. The two treatments are not equally effective. The physiotherapy visits yield 10 additional healthy days per month, while the pills yield 6 healthy days.
a. If Mrs. Siegal can choose only one alternative, and if she wants to maximize the healthiest days per dollar that she gets, which option will she choose?
b. If the price of a pill increases to $3, which option will she choose?
Elucidate one opportunity for Big Drive Auto that requires a business management decision.
q.johnny works for the great big cookie company gbc which buys labor at a wage of 1 an hour and uses it to produce
Between 2011 and 2012, the quantity of cars produced and sold decreased by 20%. During the same period, the price of cars increased by 5% and the cost of gasoline increased by 20%. We know that the cross elasticity of demand of gasoline is -0.3. Comp..
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Compute the percentage change in price and quantity (%ΔP, %ΔQd) by adding this one room. Calculate the Price Elasticity of Demand.
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Elucidate which firm's product provides the greatest value-created.
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Tim is offered two gambles. With gamble A, he either gains $2 or loses $1 with a 50 percent probability. With gamble B, he either gains $3 or loses $2 with a 50 percent probability. Tim prefers gamble B to gamble A. What can we conclude?
Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the inco..
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