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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.
Design a simple econometric research project
Multiplicative decomposition method
The Australian government administers two programs that affect the market for cigarettes.
Solve the forecast model
What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).
Explain why this model violates the assumption of no perfect collinearity. Write the t statistic for testing the null hypothesis
What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type
Determine when a competitively produced product generates negative externalities in production, the industry will,
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.
M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.
Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:
Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.
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