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Two girder designs are under consideration for a bridge for a 1,200-foot crossing. The first design is expected to result in a superstructure weight per foot of 22(S) + 800, where S is the span between piers. The second design should result in superstructure weight per foot of 20(S) + 1,000. Piers and two required abutments are estimated to cost $220,000 each. Let X = the number of piers plus abutments. The superstructure will be erected at a cost of $0.55 per pound. Choose the girder design that will result in a minimum cost and specify the optimum value for X. Hint: X must be an integer.
Adam Smith wrote about the "invisible hand' and was in favor of free trade. Michael Porter wrote about national competitive advantage. Discuss how these 2 theories are related. State and explain your stance on free trade based upon your understanding..
Should the "Golden Age of Capitalism" be understood as a process of increasing globalization or de-globalization? Support your answer with a discussion of the rise and fall of the Bretton Woods system.
If it is easy for a firm to get into or exit from a market, then a firm in that market will be able to earn positive economic profits. When economic profit is positive,
Suppose that a monopoly firm finds that its MR is $64 for the first unit sold each day, $63 for the second unit sold each day, $62 for the third unit sold each day, and so on. What is the firm’s MRP for each of the first five workers? Suppose that th..
All of the following are reasons why China is unlikely to maintain high enough rates of productivity growth to catch-up with the standard of living in the United States except
How does definition of a market, or for that matter, a business strategy, affect that perception of a monopoly.
Identify one policy that is aimed at youth unemployment in the united states. Describe the specific social problem that the policy is aimed to address. What is the current situation and how did this problem evolve (did it become worse / better)? (2 p..
Assuming the same financial market transaction costs and risks, will funds tend to move toward the U.S. or Japan if the U.S. Interest rate is 5 %, the Japanese interest rate 2%, and there is a forward discount on the dollar of 2%? How will this effec..
Safelife insurance company has $50 million in assets, $43 million in liabilities, and $7million in shareholders' equity. The duration of liabilities is 4.2. If Safelife wants to immunize its net worth against interest rate risk (i.e. set the duration..
A new chemical has been discovered that can be produced at a constant marginal cost of $10 by its patent holder, Johnson inc. Two industries, A and B, find the chemical, Cloreen, to be useful in their production processes.
A college student has been looking for tires and has found the following: Tire Warranty for Tire A is 6 months at a price per tire of $31.59. What is MONTHLY worth/cost of Tire A if we consider annual interest rates are at 10%?
If a consumer goes to buy an entertainment center at Best Buy for $2,000 and the mpc is .80, what will be the effect on the economy? What if the mpc really turns out to be .75? Why is there such a difference?
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