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Kim and Pat underwrite insurance. Each underwrites 50 accounts per month. Each account takes four hours to underwrite. The value of their time is $40 per hour. Monthly costs for each are $1,500 for an office, $2,000 for a receptionist, and $2,400 for a secretary. Calculate the average and incremental cost per case for Kim and Pat.
The demand for 1,000 units of a part to be used at a uniform rate throughout the year may be met by manufacturing. The part can be produced at the rate of 3 per hour in a department that works 1,880 hours per year.
Assume that a country's per-worker production is y = k1/2, where y is output per worker and k is capital per worker. Assume also that 10 percent of capital depreciates per year (δ = 0.10).
In the market for coffee, for many consumers:
is the statement true or false? a profit maximising perfectly competitive firm should select the output level at which
Assume that there are three types of teams in Major League Baseball: large market, medium market and small market. Each of these types has ten teams for a total of 30 teams. The demand function for each type of team is: What is the price Major League..
Listing different orderings and coalitions is not going to work for this problem because there are too many possibilities, excluding you can use different tools which we have discussed in class.
Describe the strategies utilized by the critics of the infant formula companies. Elucidate the concerns of the critics of the formula companies.
Elucidate what happens to the price of oranges and the marginal product of orange pickers as a result of the freeze. Can you say what happens to the demand for orange pickers.
Which of the following will not tend to increase the elastic you of demand for a good ?
In discussing the distribution of income among families, the term “lowest fifth” indicates. Which of the following has not been outsourced from the U.S.? Frictional unemployment is caused primarily by automation. Unemployment caused by an imbalance b..
q.suppose you work in a financial institution how you would advise your clients with regard to the followinga a u.s.
How many people should you survey? You want to take a random sample of likely voters in order to estimate the proportion (p) of voters in that population who prefer candidate A over candidate B. Suppose that, in fact, p = 0.51 (that’s in the populati..
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