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In a textile plant, cloth is manufactured in rolls of length L. Defects sometimes occur along the length of the cloth. Consider a specific roll with (N - 1) defects appearing at distances y1, y2, . . . , yN-1 from the start of the roll (yi+1 > yi for all i). Denote the start of the roll by y0, the end by yN.
The roll is cut into pieces for sale. The value of a piece depends on its length and the number of defects. Let
v(x, m) = Value of a piece of length x having m defects.
Assume that all cuts are made through defects and that such cutting removes the defect. Specify how to determine where to cut the cloth to maximize total value.
Which auction should you choose to maximize your profit? The first-price bidders shade their bids by 20% of their evaluation of its value. The second-price bidders all utilize the optimal strategy for second price auctions stated in the textbook.
Atlas Long-Haul Transportation is considering installing Valutemp temperature loggers in all of its refrigerated trucks for monitoring temperatures during transit. If the systems will reduce insurance claims by $40,000
Which of the following is not a reason for rising health care costs? Which of the following statements about the way the government measures poverty is correct? Which of the following are explanations for income differences?
A firm's total revenue is given by; TR= 30Q-Q^2 Its total cost function is given by TC= Q^2+10Q+10 a.find the profit maximizing output b.what price will the firm charge to maximize its profits
A needed service can be bought for $550 per unit. The same service can be provided by equipment that costs $225,000, has a salvage value of $75,000 at the end of 10 years and costs $21,500 annually plus $35 per unit to operate. a. What is the incr..
A local video store estimates their average customer's demand per year is Q = 7 - 2P, and knows the marginal cost of each rental is 50 cents. How much should the store charge for each rental if it engages in optimal two-part pricing
Greg, who is five years from retirement, receives a $10,000 bonus at work. He is trying to decide whether to save this extra income in an IRA account or in a regular savings account. Both accounts earn 5 percent nominal interest, and Greg is in th..
Suppose Springfield's economy moves into a recession and Y falls to $9 and rising unemployment allows widget makers to reduce wages to $18 per hour. What happens to the supply and demand curves.
What is the meaning of the Coase theorem can't understand how it leads to efficient allocation of resources, any tutor who can explain
What will the multiplier be given the MPS values below MPS Multiplier 0 undefined 0.4 0.5 1.0 What will the multiplier be given the MPC values below MPC Multiplier 1.0 undefined 0.9 0.75 0.5 0.0 Instructions: For the questions below enter only whole..
Use the ADI curve to describe how the economy would respond to a productivity shock that increases full-employment output. If there is no impact on the ADI curve, what will happen to output in the short run?
Formulate the household optimization problem in terms of the current-value Hamiltonian and derive the necessary conditions for an interior continuous solution.
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