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Two girder designs are under consideration for a bridge for a 1,200-foot crossing. The first design is expected to result in a superstructure weight per foot of 22(S) + 800, where S is the span between piers. The second design should result in superstructure weight per foot of 20(S) + 1,000. Piers and two required abutments are estimated to cost $220,000 each. Let X = the number of piers plus abutments. The superstructure will be erected at a cost of $0.55 per pound. Choose the girder design that will result in a minimum cost and specify the optimum value for X. Hint: X must be an integer.
The first paragraph gives two goals desired by society that the pure market economy is largely successful in reaching and explains why the market is able to attain these goals. produce and sell the quantity and type of goods and service that people w..
Suppose the demand of the good is P = 10 - Q. A monopolist's total cost is TC = 2 + 4Q. What's the optimal price and quantity of the monopolist? Calculate the monopolist's profit (or loss).
Compare he rates of core and headline inflation for the most recent months and the past year
A pro-life group wanted to test the effectiveness of an anti-abortion commercial. Two random samples, each of 250 respondents, were recruited in Atlanta. One group was shown the anti-abortion commercial. Then attitudes toward abortion were measured f..
Explain why globalization is good for the United States. What are the drawbacks of globalization for our economy? We run huge trade imbalances with two countries. Explain the cause of the imbalances. What is the economist's case for free trade?
Why does a nation experience increasing opportunity cost?
Indicate how each of the following factors will change the individual demand curve for aspirin tablets: An increase in the price of bottle water (a complement)
If the government imposed a direct price regulation that did not allow a natural monopoly with constant marginal cost to charge a price higher than under perfect competition:
One of the basic facts of financial markets is that financial intermediaries, particularly banks, are the most important source of external funds used to finance business. Explain the reasons with few sentences from what we learned in Chapter 8 from ..
Suppose a monopoly can produce any level of output it wishes at a constant marginal (and average) cost of $5 per unit. Assume the monopoly sells its goods in two different markets separated by some distance. The demand curve in the first market is..
A local department store puts out products at an initial price, and every week the product goes unsold its price is discounted by 25% of the original price. If it is not sold after 4 weeks, it is sent back to the warehouse.
How many units of good X will be purchased when Px=4910, determine the inverse demand function for good x.
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