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A supermarket is considering adding self-scan checkout machines. Currently the supermarket checks out 200 customers an hour using 10 checkout clerks. Customers differ in their abilities to use these machines. Market research suggests that 20 percent of the store's customers can check themselves out using these machines in three minutes (on average), 30 percent can check themselves out in five minutes, and 50 percent will refuse to use the new machines. One employee can monitor up to four self-scan machines. If there are fewer than four machines, this employee can use her extra time in other productive ways. Draw an isoquant for checking out 200 customers an hour where the variable inputs are checkout clerks and self-scan checkout machines.
All cheese manufacturers have the cost function C=Q^2+9, while demand for cheese is given by Qd=120-P. The long run equilibrium number of firms is
$4,000 were deposited at time 0 in an account that pays an interest of 10% compounded annually. how much should be withdrawn at the end of period 2 to have $4,000 at the end of period 4 available in the account
ADVANCED ANALYSIS Assume that the consumption schedule for a private open economy is such that consumption C = 50 + 0.8Y. Assume further that planned investment Ig and net exports Xn are independent of the level of real GDP
An American MNC anticipates a receipt of 850,000,000 Japanese yen on Mach 27. The company expects the Japanese yen to appreciate in the following months. Despite that because of its dollar obligations in that month it does not want to leave its lo..
Use the sales data given below to determine a. the least squares trend line b. the predicted value for 2002 sales c. the MAD d. the unadjusted forecasting MSE Year / Sales 1995 / 130 1996 / 140 1997 / 152 1998 / 160 1999 / 169 2000 ..
Do you agree or disagree with the statement that: "A monopolist always changes the highest possible price Why can't an individual from a firm raise it's price by reducing output or lower its price to increase sales volume in a purely competive mar..
Consider the market for rainbow sandals. Suppose average household income increases from $44,000 per year to $61,000 per year. As a result, the demand for rainbow sandals increases from 427 to 535.
A sum of $16,000 per year will be recieved uniformly over a five year period beginning two years from today. What is the present value of this deferred-funds flow if interest is compounded continuously at a nominal rate of 9%
Assume that the Bank of Ecoville has the following balance sheetand the Fed has a 10% reserve requirement in place:What is the maximum amount of new loans that this bank canmake Assume that the bank makes these loans. What will the newbalance sheet l..
Write an equation that summarizes the cost function for her operation, as well as equations that summarize the marginal, average variable, average fixed, and average total costs of selling fresh drinking water at the kiosk.
You are the city engineer and are negotioating with a land developer. The developer wants water service to a new development and you report that service can be completed this year by city crews at a cost of $200,000
Assume that by investing $2000000 in transportation system we can prevent 30 accidents per year and save another $100 on annual maintenance cost of vehicals using the system ( 2000 vehicles). The annual maintanence cost for this system is $200000.
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