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A government agency has 6000 employees. As an alternative to the traditional five-day work week, employees were asked whether they preferred a four-day work week (10 hours per day) or flexible hours. The table below shows the results by age category.
Age Cat Prefers 4-day week Prefers Felx Hoursunder 30 600 30030-45 1200 1500Over 45 2100 300
What is the probability that an employee at this government agency prefers a four-day work week?
Modifying a product to increase its "value added" benefits customers and can enhance supplier profits. For example, suppose an improved version of a product increases customer value added by $25 per unit. (In effect, the demand curve undergoes a p..
Every worker in the factory works on one machine and is able to produce 6 shirts per hour. The cost of running the machine is half a loaf of bread per hour, the cost to employ each worker is 1.5 loaves of bread per hour.
Suppose that some variable is growing at constant rate. a. Prove that the natural logarithm of that variable is a linea r function of time. b. Find the intercept and slope of the linear function in part a.
A woman managing a photocopy establishment for $25,000 per year decides to open her own duplicating place. Her revenue during the first year of operation is $120,000, and her expenses are as follows: Salaries- $45,000, Supplies $15,000, Rent- $10,..
Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.
Determine what is the state of the economy in brazil versus the united states and discuss the GDP of brazil and the united states?
You are the manager of a firm that receives revenues of $30,000 per year from product X and $70,000 per year from product Y. The own price elasticity of demand for product X is -2.5, and the cross-price elasticity of demand between product Y and X..
Year Nominal GDP (in billions) GDP Deflator data (base year 2005) 2009 $14,256 109.8 1999 $9,353 86.8 What was real GDP in 1999 measured in 2005 prices? Round your answer to the nearest cent. What was the growth rate of real GDP from 1999 to 2009? R..
consider a modified scenario where a potential worker invests in years of education. Each year of education costs a motivated worker $10,000 in terms of disutility and an unmotivated worker $20,000 in terms of disutility.
Computers are sold competitively. Each computer, such as a Dell or Compaq, contains an operating system, such as Windows, that is pre-loaded on the computer. Suppose that the price of computers is $2000, and the price of an operating system is $10..
Use the following equations for demand and supply to solve for market equilibrium price and quantity: Demand: Qd = 100 - 4P Supply: Qs = 10 + 6P
Suppose that the current price of oil is $60 per barrel and the quantity sold is 90 million barrels per day. Assume that the supply and demand curves for oil are linear. The current estimates of the price elasticity of supply and demand in the U.S..
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