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Sales of bottled water in the U.S. totalled 16.3 gallons per person in 2004. Evian Natural Spring Water costs 40 cents per bottle. A municipal water utility provides tap water for $2.10 per 1000 gallons. If the average person drinks 2 bottles of water per day or uses 5 gallons per day in getting that amount of water from the tap, what are the present worth values of drinking bottled water or tap water per person for 1 year? Use an interest rate of 6% per year, compounded monthly, and 30 days per month.
A company has an annual requirement for 150,000 parts, which cost $125 each. The parts require processing having a $4,000 setup cost. Each part occupies 0.5 sqft of floor space in the factory. Floor space has a total cost of $12.50 per square foot..
The firm's production manager claimsthat the firm's average cost of production is minimized at anoutput of 40 units. Furthermore, she claims that 40 units is the firm's profit-maximizing level of output. Explain whether these claims are correct.
Paul consumes only two goods, pizza (P) and hamburgers (H) andconsider them to be perfect substitutes, as shown by his utilityfunction: U(P,H) = P+4H. The price of pizza is $3 and the price ofhamburger is $6,
Lube Job. Many gas stations and three specialty shops (Pennzoil, Jiffy Lube and Valvoline) do oil changes in Charleston, WV. You've probably been to one of these and know the productionmethod.
Manke a graph showing the relationship between two variables, X and Y . Determine whether the relationship is negative or positive
Suppose Venezuela imports TV sets at a price of $150 each. Under free trade, how many sets does Venezuela produce, consume, and import? Determine Venezuela's consumer surplus and producer surplus. b. Assume that Venezuela imposes a quota that limit..
Based on market research, a film production company in Ectenia obtains the following information about the demand and production costs of its new DVD: Demand: P=1000-10Q Total Revenue: TR=1000Q-10QZ
Given PxX + PyY = I and the information in question one above and a point system where px = 2, py = 8 and the number of points available is 450, is the consumer constrained by points If so, what is the consumption point
A recent newspaper circular advertised the following special on tires: "Buy three, get the forth tire for free-limit one free tire per customer." If a consumer has $500 to spend on tires and other goods and each tire usually sells for $50.
Taxicab fares in most cities are regulated. Several years ago, taxicab drivers in Boston obtained permission to raise their fares 10 percent, and they anticipated that revenues would increase by about 10 percent as a result.
XYZ Corporation is a manufacturer of widgets. Over the past several months, it has been selling its widgets for $100 each and unit sales have averaged 5,000 units per month. This month its competitor, ABC, Inc. raised the price of its widgets from..
Tad's bait shop has a monopoly on the bait market at Sanderson's Lake. The demand curve for bait is QD = 56 - 8P -> P = 7 - 18 QD. This implies the marginal revenue function is: MR(Q) = 7 - 14 Q. Tad has two employees he can use to search for bait..
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