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The inverse demand function for water w among urban users is given by Du(w) = 10-2(w), and the inverse demand function for water among rural users is given by Dr(w) = 6-w. The total amount of water available is W=5.
a. What is the efficient allocation of water to the two groups of users: urban and rural?
b. What is the efficient price for water? Why?
The University of Cincinnati Center for Business Analytics is an outreach center that collaborates with industry partners on applied research and continuing education in business analytics. No refund would be given for members who do not attend, but ..
Your job as assistant manager is to identify which farms will supply each market in order to minimize the transportation costs - However there are many other variables at play in your decision that you must go out and identify or estimate.
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In The General Theory of Employment, Interest, and Money, John Maynard Keynes wrote: If the Treasury were to fill old bottles with banknotes, bury them at suitable depths in disused coal mines which are then filled up to the surface with town rubbish..
Kim and Pat underwrite insurance. Each underwrites 50 accounts per month. Each account takes four hours to underwrite. The value of their time is $40 per hour. Monthly costs for each are $1,500 for an office, $2,000 for a receptionist, and $2,400 for..
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In this problem, assume that letter A is equivalent to 0. The subscripts do not affect the value of the keys (which are letters).
The diagram above shows the equilibrium exchange rate marked E. You can also see that the demand curve has moved to the right. Explain what is happening here and explain what will happen under (i) a floating exchange rate and (ii) a fixed exchange ra..
Consider a basic economic order quantity (EOQ) model with the following characteristics: Item cost: $15 Item selling price: $20 Monthly demand: 500 units (constant) Annual holding cost: 9% of purchase cost Cost per order: $18 Order lead time: 5 days ..
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Determine the optimal number of plants that the firm should have to take full advantage of the market demand.
Detail how family influences socialization. What cognitions, affects and behaviors are specific to families? Explain how socialization by family has impacted you as a consumer.
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