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Twentyfirst Century Electronics has discovered a theft problem at its warehouse and has decided to hire security guards. The firm wants to hire the optimal number of security guards. The following table shows how the number of security guards affects the number of radios stolen per week. Number of Number of radios Security Guards stolen per week 0 50 1 30 2 20 3 14 4 8 5 6
a. If each security guard is paid $200 a week and the cost of a stolen radio is $25, how many security guards should the firm hire?
b. If the cost of a radio is $25, what is the most the firm would be willing to pay to hire the first security guard?
c. If each security guard is paid $200 a week and the cost of a stolen radio is $50, how many security guards should the firm hire?
The objective function measures profit, it is assumed that every piece stocked will be sold. constraint 2 measures time to set up the display in minutes. Constraints 3 and 4 are marketing restrictions.
Year Nominal GDP (in billions) GDP Deflator data (base year 2005) 2009 $14,256 109.8 1999 $9,353 86.8 What was real GDP in 1999 measured in 2005 prices? Round your answer to the nearest cent. What was the growth rate of real GDP from 1999 to 2009? R..
If beta of portfolio is .326, the present yield to maturity on United States government bonds maturing in one year and an assessment that market risk premium.
the equation of the supply curve is Ps=1+0.1*Qs and the equation for the demand curve is Pd=6-0.15*Qd. This results in an equilibrium price (Pe) of 3. This figure shows a regulated price (Pr) of 2, which results in the welfare loss triangle b + d,..
a. What is the opportunity cost of a pie at Bakery 1 b. What is the opportunity cost of a cookie at Bakery 2 c. Which bakery has a comparative advantage in the production of cookies d. Draw the production possibilities curve showing the combined effo..
Baby boomers can save up to $22,000 per year in a 401k account. If Eileen's starting balance at age 50 is $200,000 and she saves the full amount available to her, how much money will she have saved when she is 65 years old (after 15 years of savin..
what uniform price will he charge and how much profit will he earn. The following figure shows the demand and marginal revenue for a monopolist, who has many buyers with different valuations of the good.
How many units should be produced to maximize profit? How do this company's marginal costs behave as output increases? Provide a logical explanation as to why a computer manufacturer's marginal costs might behave in this way.
Suppose that you are a product manager in charge of planning production of three products in various countries around the world. The table below contains information on the income elasticity of the three products.
A monopsonist's demand curve for labor is given by w = 12 - 2L, where w is the hourly wage rate and L is the number of person-hours hired. a. If the monopsonist's supply (AFC) curve is given by w = 2L, which gives rise to a marginal factor cost cur..
The daily demand for Invigorated PED shoes is estimated to be where Ax represents the amount of advertising spent on shoes (X), Px is the price of good X, Py is the price of good Y, and M is average income.
As an alternative, the company offers a 24-month lease with a single up-font payment of $ 12,780 plus a $500 refundable security deposit. The security deposit will be refunded at the end of 24-month lease.
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