Reference no: EM131386028
Suppose that the average value that a person in a certain city places on having 1000 extra police officers out on the streets for a year is $10. Some people have a high value and some a lower value.
The population is 7 million.
The city government decides to ask people how much they value an extra 1000 police to see if it is worth spending the $50 million a year needed.
Two questionnaires are proposed.
1) Assess the value to them of the extra police and government explains that people will pay whatever amount they answer-the total of answers is at least $75 million
2) Reveal how much they value the extra police, but it says that everyone will pay the same amount if the police are hired, provided that the sum of the personal valuations exceeds $75 million.
(a) What would be the results of the different surveys?
(b) Which is better?
(c) Does either survey give people the incentive to tell the truth?
(d) Can you devise a survey that does make people reveal the truth?
|
Marginal cost at each total product level
: The bookstore competes with a number of similar stores and therefore operates in a monopolistically competitive marketplace. Calculate the store's total revenue , marginal revenue, average total cost, and marginal cost at each total product (TP)level..
|
|
Can you get the logic to fit in a single p14h8
: Note that you may have to use multilevel logic and feedback some of the PAL outputs back in as inputs. Can you get the logic to fit in a single P14H8? Use the shorthand notation developed in Section 4.2.
|
|
Economy that produce only digital cameras
: An economy that produce only digital cameras, chocolate bars and watches. In 2013 the output was: digital cameras(1, price 2 each), chocolate bars(8, price 3 each), watches(1, price 2 each). In 2014 the produce was digital cameras(7, price 7 each)..
|
|
Would you expand your restaurant to seat more guests
: If you realize that guests wait an hour at your restaurant each evening, would you expand your restaurant to seat more guests or build additional restaurants in the nearby communities?
|
|
Average value that a person in a certain city
: Suppose that the average value that a person in a certain city places on having 1000 extra police officers out on the streets for a year is $10. Some people have a high value and some a lower value.
|
|
Create adata flow diagram showing the flow of data
: Create adata flow diagram showing the flow of data from the form to the appropriate departments within the hospital. ? Some data may need to flow to more than one department.
|
|
Exercising illegal monopoly power
: "Several years ago there were a few lawsuits contending that Microsoft was exercising illegal monopoly power when it required computer manufacturers who installed Windows to include Internet Explorer.
|
|
How to implement the functions in a minimum sized pla
: This can be accomplished by expanding the equations into two-level sum of products form and filling in four-variable K-maps from the equations thus derived. Show how to implement the functions in a minimum sized PLA?
|
|
Describe five application software packages
: Describe five application software packages that could help you advance in your career. If the software package doesn't exist, describe the kinds of software packages that could help you in your career.
|