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A company produces products at a cost of $32 each. Defective products cost an additional $16 each to repair. The probability of no defective products is 80%. The probability of 5% defective products is 20%. What is the expected cost of producing 500 products?
Suppose a network has been developed for a project where T=38 months and \alpha {^2}=7 months. Find the probability that the project will be completed within 40 months, using (a) the standard normal tables and (b) a spreadsheet.
Distinguish between explicit and implicit costs, giving examples of each. What are the explicit and implicit costs of attending college? Why does the economist classify normal profit as a cost? Is economic profit a cost of production?
Galvanized Products is considering a new computer system for their enterprise data management system. The vendor has quoted a purchase price of $100,000. Galvanized Products is planning to borrow one-fourth of the purchase price from a bank at 15 per..
Suppose your nominal income rose by 6.3 percent and the price level rose by 3.8 percent in some year. By what percentage would your real income (approximately) increase? percent. If your nominal income rose by 3.8 percent and your real income rose b..
The time needed to complete an exam is normally distributed with (M,O^2) If 2.28% of the class can expect to complete the exam within an hour or less, and if 6.68% of the class need more than an hour and 35 minutes to complete the same exam, then wha..
The table below shows a monopolist’s demand curve and the cost information for the production of its good. What will their profits equal? Quantity: 10,20,30,40 Price per unit: 100,80,60,40,20 Total Cost: 100,400,800,1400,2400
Companies that reduce their margins on export products in the face of appreciation of their home currency may be motivated by a desire to
What is the best certificate that you could complete online for uni student majoring in Finance/Economics?
Explain how to calculate and graph the profit maximizing price and quantity in the output markets by use of marginal analysis.
Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90-0.20Q. If there is a price floor of 2.94, what would be the quantity traded?
What is Soroush’s income elasticity of demand for Good 1? C. What is Soroush’s income elasticity of demand for Good 2?
The cost of a 110hp generator today is $155,000. The cost of a 65hp generator 6 years ago was $56,000. The generator equipment index today is 193 and 6 years ago it was 143. Calculate the power sizing exponent for this equipment.
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