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Suppose that the total benefit and total cost from an activity are, respectively, given by the following equations: B(Q)=150+28Q-5Q^2 and C(Q)=100 + 8Q(Note: MB(Q)=28-10Q and MC(Q)=8.
What level of Q maximizes net benefits?At the value of Q that mazimizes net benefits, what is the value of marginal net benefits?
Twenty-five examples of 150 online orders that were picked manually were inspected prior to shipping and a total of 36 orders were found to be incompleted or wrong.Compute control limits for p-chart. UCL=p+3p UCL=p-3p
Computer Products Corp. sells peripheral equipment used by both private businesses and the government. Due to a recession, Computer Product's sales have declined by 100,000 units and it now has 200,000 units of excess capacity.
Ball bearings cost $.05 each, and bubblegum costs $.20 each. Your enjoyment of the experiment will be characterized by the utility function U(B,G) = (B^.2) * (G^.8). If you have $10 to spend on this experiment, how many ball bearings will you buy
Miguel is a farmer who produces oats. The oat market is a pure competition market. Miguel is now making choices in the short run. The going rate for oats is currently $24 per unit. The total cost function is as the table above shows. What is the p..
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 following information concerning production of wheat and cloth in the United States and in the United Kingdom: Labor Hours Required to Produce One Unit United Kingdom United States Wheat 2 ..
Using the following national income accounting data, compute (a) GDP, (b) NDP, (c) NI. All figures are in billions. Compensation of employees U.S. exports of goods and services Consumption of fixed capital (depreciation) Government purchases Taxes on..
Given the following information calculate the multiplier effect on Y, i.e. by how much does output increase or decrease by (Y), if Unless told otherwise, assume other factors are held constant. For example if you are told that only government spend..
A producer currently hires 20 units of labor and 6 units of capital. The price per unit of labor is $10, the price per unit of capital is $2, and the marginal products of labor and capital are both equal to 20. If the producer increases labor by o..
Joe's Barber Shop has a daily total cost function of TC = 100+ 4Q + Q2 and the daily demand for his services is Q = 50 - 2P What is the profit maximizing price that Joe should charge for his services
An office receives 20 faxed orders every two hours. (1) What is the probability that it will receive 8 orders in the next hour (2) What is the probability that an order will be faxed within the next 9 minutes (3) What is the probabilit..
firm had demand function given by Qd=1000-10p. Its cost function given by C= 150 +20 Q A- write an equation for the inverse demand function. B- write an equation for the profit function C-if the firm wants to maximize its sales revenue.
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