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Consider a corporation with a factory producing pollution that decays with distance (d) in kilometers at a rate: P = 1 / d^2.
Workers must live some distance (d) away from the factory in order to work there and suffer health costs equal to $1/unit of pollution they are exposed to at home. The cost of commuting is $1 per kilometer of distance. Workers cannot live closer than 0.1km away from the factory.
1. Describe the tradeoff workers must make in deciding where to live, and write an expression for workers' total cost function (including both health and transportation costs).
2. How close to the factory will a representative worker decide to live, assuming that they are a cost minimizer? [reminder: 1/x^2 = x^-2, and the derivative of x^n is nx^(n-1)]
3. Suppose the factory perfectly compensates workers for health damages due to pollution, wherever they live. How close to the factory will workers choose to live?
GDP is typically calculated by tallying all final expenditures in an economy, but it can also be calculated by adding income. Pick a product and give an example of how that product's contribution to GDP could be calculated using income.
Explain why allocative efficiency and productive efficiency are achieved where P = minimum ATC = MC.
q1. if the demand curve is qp 20-2p and the marginal cost is constant at 8 what is the profit maximizing monopoly
Copiers cost about twice as much as workers. Would you recommend they hire another employee or buy another copier?
What is your recommendation? Contributed by Paul R. McCright, University of South Florida.
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Discuss the following topics for the Samsung Galaxy Note 7 within the organization from the perspective of how they affect its competitiveness and long-term profitability: Advertising and promotion
Suppose the market demand and supply (bottles/month) for bottled water are given by: Write the inverse supply function. Sketch a demand curve for this market. Sketch a supply curve for this market. Calculate the equilibrium price and quantity.
The price of the output is $6 each. What's the maximum profit that the firm can get in the short run?
The economist sees your analysis of the relationship between GDP per capita and greenhouse gas emissions per capita. She asks you to explore alternative
Lockheed Martin is increasing its booster thrust power in order to win more satellite launch contracts from European companies interested in new global communications markets. A piece of earth-based tracking equipment is expected to require an invest..
Consider a series of end-of-period CFs spanning 2046-2053, which increase at a 1% rate each period. The amount of the first CF in the series is $92. The interest rate is 3%. What is the equivalent value of this series at the beginning of 2046?
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