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Compute the Cost. Edward the entrepreneur takes two hours to cut a lawn, and he cuts 1,000 lawns per year. He uses solar-powered equipment (truck and mower) that will last forever and can be sold at any time for $20,000. Edward could earn $12 per hour as a pedicurist.
The interest rate is 10 percent.
a. Given his current output level, compute his marginal cost and average cost of cutting lawns.
b. Suppose he decides to reduce the number of lawns cut by half, to 500 per year. Compute the new marginal cost and average cost.
What is the average wait time? What recommendations would you provide management on how to change the operation of the process of concern?
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First, what are three things you look for in a restaurant (important qualities)? Why are these things/qualities important? Then, consider the last restaurant you ate at, and do a quick review of your experience. Did that restaurant live up to all thr..
Compare and contrast the two (2) basic procurement strategies of corporate procurement and project procurement. Illustrate the risk(s) associated with using corporate procurement and project procurement.
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