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The time it takes to process phone orders in a small florist/gift shop is normally distributed with a mean of 6 minutes and a standard deviation of 1.24 minutes
a) What cut off value would separate the 2.5% of orders that take the most time to process?
B) What cut off value would separate the 16% of orders that take the least time to process
c) What cut off values would separate the 95% of orders that are in the middle of the distribution with respect to processing time?
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Calculate the price elasticity of gasoline. Calculate the price elasticity of demand for gasoline. Calculate the elasticity of supply using the information provided. Calculate the changes in consumer and producer surplus. Because there is no viable s..
Greener Grass Company (GGC) competes with its main rival, Better Lawns and Gardens (BLG), in the supply and installation of in-ground lawn watering systems in the wealthy western suburbs of a major east-coast city. Derive algebraically the quantities..
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Prove that the firm has decreasing returns to scale. Theresa received an order for 5000 units. Find the optimal K/L ratio, as a function of w/r. Next, assuming w = $20 and r = .10, solve for Ki*, Li*, and qi*. Then draw a graph, showing the isoquant ..
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