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Boris budgets $9/week for his morning coffee with milk. He likes it only if it is prepared with 4 parts coffee and 1 part milk. Coffee costs $1/oz, milk $0.50/oz. How much coffee and how much milk will Boris buy per week? How will your answers change if the price of coffee rises to $3.25/oz? Show your answers graphically.
Assuming that budget stays same except for interest on debt for 10 years, what will be accumulated debt? What will size of budget be after 10 years.
Calculate the balance due, principle payment, and interest payment for each period of a new car loan. the nominal interest is 8% per year, compound monthly. Payments are made monthly for 5 years. The original loan is for $27,000.
for each of the following describe some of the potential opportunity costsa. studying for your economics testb.
The day after a snowstorm, cars arrive at Mel’s Auto-Wash at an average rate of 10 per hour according to a Poisson process. The automated car washing process takes exactly 5 minutes from start to finish. What is the probability that an arriving car w..
Tangents as a trigonometric function will be applied in our conversion of the Consumption Function in the Macro section of this course.
As Disney, Inc. was set to open the gates to its Hong Kong theme park, the company was broadsided by protests and calls for boycotts by environmental groups. Sparking the controversy was the pre-park opening release of its food menu, which included s..
As an advisor to the project manager, Derrick Westmuller, illustrate what set of procedures would you advise they adopt.
During the financial crisis of 2007-2008, the governor of the Bank of Canada expressed concern that the commercial banks were "hoarding" cash rather than extending a more appropriate volume of loans. Why might the banks do this, and what is the impli..
Sketch the extensive form of the game, carefully labelling the players that move and the actions they have available
Illustrate what is the effective rate of protection for sneakers.
The HRM specialists at A&C Company took the opportunity to increase productivity and decrease manual data analysis by using their microcomputer along with a commercial database management system (DBMS) to develop a __________. Now the company can rea..
Suppose that you can own a car wash and that its total cost function is C= 20 + 2Q + .3Q^2 where C = total cost (in dollars) per hour and Q is the number of cars washed per hour. You receive 5 dollars for each car washed.
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