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Using Economic for engineers:
A machine that produces a certain piece must be turned off by the operator after each piece is completed. The machine "coasts" for 15 seconds after it is turned off, thus preventing the operator from removing the piece quickly before producing the next piece. An engineer has suggested installing a brake that would reduce the coasting time to 3 seconds.
The machine produces 50,000 pieces a year. The time to produce one piece is 1 minute 45 seconds, excluding coast in time. The operator earns $11 an hour and other direct costs for operating the machine are $4 an hour. The brake will require servicing every 444 hours of operation. It will take the operator 30 minutes to perform the necessary maintenance and will require $45 in parts and material. The brake is expected to last 7,500 hours of operation (with proper maintenance) and will have no salvage value.
How much could be spent for the brake if the Minimum Attractive Rate of Return is 10% compounded annually?
A company offers ID theft protection using leads obtained from client banks. Three employees work 40 hours a week on the leads, at a pay rate of $20 per hour per employee. Each employee identifies an average of 3,600 potential leads a week from a lis..
In the following example each person is an island. We have James and Kate who engage in international trade with each other. James is lactose intolerant and only produces cheese. Kate is caffeine intolerant and only produces coffee. Who has a negativ..
Illustrate what is happening to the value of the US dollar these days. What causes the value of the US dollar to rise or fall.
After a long career an engineer retires with $1.4 million in a retirement account. The engineer spends $94,000 per year from this account in retirement and the account earns 3% interest per year. How many years will the retirement account last? Expre..
Currently, there is a $0.50 copayment on drugs. The HMO has decided to raise this to $1.00 per prescription. The cost of a prescription is $6.00, which mean the HMO's contribution to the total cost will fall from $5.50 to $5.00. How much will be dema..
q.if a firm faces a shortage of workers with very specific skills it may decide to undertake the necessary training
Assume that two power plants, Firm 1 and Firm 2, release arsenic in a small urban community that exceeds the emissions standard. To meet the standard, 40 units of SO2 must be abated in total. The two firms face the following abatement costs: Determin..
Select a company in your country of origin that is involved in importing and/or exporting, run a thorough research on the company’s business operation. Your goal is to understand how government involvement in international trade has helped or harmed ..
In a paper, analyze the relationships among total and average fixed cost, variable cost, and total cost. Address what happens to price and quantity with changes in demand and supply. You will need to identify then define the relationships.
PiR8 Systems has borrowed a sum of $2.5M from a bank at interest rate of 4.5%. The company also borrowed $0.5M from other sources at a interest rate of 4%. Additionally the owners have invested $2.5M in the business with the intention of earning 15% ..
Report on an article from the Economist, identifying a market failure, defending or critiquing existing policies meant to deal with the market failure, and suggesting possible policy improvements using economic language and analytical tools
Suppose that your great-great-grandmother put $50 in a savings account 100 years ago and the account is now worth $1,600. Use the rule of 70 to determine about what interest rate she earned. show work, please.
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