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Q. JRH Equipment is preparing a bid on a government contract for 40 units of hydraulic automotive lifts. Operations manager estimates assembly time required for first two units to be 10.4 hours and 8.3 hours, respectively.
a. What is appropriate learning curve? 79.8%
b. What is average time per unit for 40 units?
c. Which unit, if any, will require approximately one-half time of first unit?
Assume re are three possible policies, X, Y and Z, person 1 prefers X to Y to Z and person 2 prefers Z to Y to X. Model this situation as an extensive game and find out its Nash equilibrium
the standard product of labor is 6 flutes per day also the marginal product of labor is 8 flutes per day.
Their banks are holding back credit so it is harder for businesses to invest and for consumers to spend
The production process requires labor and capital as inputs. Labor costs $6 per labor hour and capital costs $12 per machine hour.
illustrates the likely effect on the marketplace for eggs. Indicate in each case the impact on equilibrium cost also equilibrium quantity.
Joy's frozen yogurt shops have enjoyed rapid growth in northeastern states in recent years. From the analysis of joy's various outlets, it was found to the Demand curve.
Describe the slope of the isocost and isoquant curves, and hence derive a relationship between the productivity of capital and the productivity of labour.
You believe that there is an equally likely chance that this information will either double expected chances of finding a well, or inform you for certain that the area is not commercial.
The social security system levies a tax on workers and pays benefits to the elderly. Suppose that Congress increases both the tax and benefit.
Explain how will the increase in unemployment benefits affect output and the price level in the short run and in the medium run.
Explain why do national income accountants compare the marker value of the total outputs in various years rather than actual physical volumes of production.
If Plonk and Brew operated in a Cournot oligopoly, explain how much output will each of them produce in equilibrium.
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