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A builder of houses needs to order some supplies that have a waiting time Y for delivery, with a continuous uniform distribution over the interval from 1 to 4 days. Because she can get by without them for 2 days, the cost of the delay is fixed at $100 for any waiting time up to 2 days. After 2 days, however, the cost of the delay is $100 plus $20 per day (prorated) for each additional day. That is, if the waiting time is 3.5 days, the cost of the delay is $100 + $20(1.5) = $130. Find the expected value of the builder's cost due to waiting for supplies.
Evaluate the following statement, "If the country imposes protectionist policies like high tariffs on foreign goods, then more domestic jobs will be created and the country will grow." How has this worked according to the chapter? Explain and cite..
Fix the prices of types .3 and .7 at 3 and 4, respectively. Draw this consumer's demand curve for griffie of type .5 as a function of the price of this type of griffie.
Given the above information, calculate the value of nominal GDP in Grantland for 2010, 2011 and 2012. Provide any general formula you use to calculate these values and identify any abbreviations in that formula
Vellus's original entry into exporting was both reactive and serendipitous. Do you think this is the exception or the rule for small businesses What might be done to make small firms more proactive with regard to exporting 3. What lessons about su..
Minimum investment amount or time? Easy to start or stop investment? Discuss. Example for stock: Usually you can't just buy one stock-must invest a minimum dollar amount. For a large company like McDonald's, the high start-up cost deters personal inv..
in light of what is happening in the european union today do you think a controlled default can occur with insolvent
Describe the difference between monopoly and oligopoly, the welfare effects of monopoly, cost advantages that create monopolies, government actions which create monopolies.
1 suppose that ms. spencer is presently spending all her budget purchasing 10 units of a and 8 units of b at prices of
Compare and contrast four of the main economic activities in Namibia and benefits each of them contribute to the economy of the country.
a monopoly has demand given through p20000-25q and costs given through cq100q25q2. determine the profit maximizing
shoplifting costs retail businesses a great deal of money every year. in spite of this the historical evidence suggests
Bridget has a limited income and consumes only wine and cheese. Her current consumption choice is four bottles of wine and 10 pounds of cheese. The price of wine is $10 per bottle and the price of cheese is $4 per pound.
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