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1. An agent has a utility function over goods 1 and 2 of the form U = xc1 x d2 where c is your individual number and d is your minimum number. The agent's income is equal to your 2-digit number. The price of good 1 is your maximum number and the price of good 2 is your median number.
Derive the demand functions of agent for good 1 and good 2. Compute the quantities of good 1 and good 2 in the agent's optimum bundle.
An assembly line with 17 tasks is to be balanced. The longest task is 2.1 minutes, and the total time for all tasks is 23 minutes. The line will operate for 480 minutes per day. a.
Two samples are said to be independent if they are collected at different points in time. False True
Describe the expected-value decision rule.
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Task 1 Read: Chapter 4 of the Core learning material and supporting text chapters on Process Design. Task 2 Investigate: Consider the operations of your own organisation (or ano
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