Designing formula car for national competition

Assignment Help Business Economics

Reference no: EM131236592

The Mechanical Engineering department has a student team that is designing a formula car for national competition. The time required for the team to assemble the first car is 174 hours. Their improvement (or learning rate) is 0.8, which means that as output is doubled, their time to assemble a car is reduced by 20%. Use this information to determine the time (hours) it will take to assemble the 12th car.

(HINT: skip units and round up to 2 decimal points, e.g. 0.12)

Reference no: EM131236592

Questions Cloud

High unemployment and high inflation at the same time : In the history of the U.S. economy, which economic era saw both high unemployment and high inflation at the same time?

Assume oligopolistic competition between the two firms : There are two firms in an in an industry. Let q1 and q2 be the two firms in an industry and Q= q1 + q2 be the total output. The inverse demand in the industry if P (Q)= 45 – Q. The cost function for each firm is C(qi) = 9qi. Assume oligopolistic comp..

Macroeconomic data for hypothetical country : The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars Gross private investment (investment) 90 Capital consumption allowance (depreciation) 25 Exports 45 Imports 35 Govern..

Sells product to two groups of consumers : You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Group 1’s elasticity of demand is -2, while group 2’s is -5. Your marginal cost of producing the product is $10. a. Determine your op..

Designing formula car for national competition : The Mechanical Engineering department has a student team that is designing a formula car for national competition. The time required for the team to assemble the first car is 174 hours. Their improvement (or learning rate) is 0.8, which means that as..

Based on some economists definition of the relevant market : Suppose the European Union (EU) is investigating a proposed merger between two of the largest distillers of premium Scotch liquor. Based on some economists’ definition of the relevant market, the two firms proposing to merge enjoyed a combined market..

The demand curve for mcdonalds hamburgers : the demand curve to which the result pertains (it is: “the demand curve for McDonald’s hamburgers”). whether the result involves “moving along” the demand curve or “shifting” the demand curve. What happens to the demand for McDonald’s hamburgers when..

The fed is more likely to use the discount rate : The FED is more likely to use the discount rate and the open market operation for short-term money supply management rather than the reserve requirement. Why?

Value is added to goods or services from primary production : Vat is tax applied at each point where value is added to goods or services from primary production to final consumption. refer to vat as an input and output tax respectively and say your company registered by its inception with the receiver of revenu..

User Account

All Pages