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A power utility can supply electricity to a city from n different power plants. Power plant; fails with probability p , independent of the others.
(a) Suppose that any one plant can produce enough electricity to supply the entire city. What is the probability that the city will experience a black-out?
(b) Suppose that two power plants are necessary to keep the city from a black-out. Find the probability that the city will experience a black-out.
Consider the model of demand deposits described in class. Suppose N=900,y=10,v^k-?=0.9,and X=1.2. Let each person have a two-thirds chance of being a type 1 and a one-third chance of being a type 2.v^k is price of capital
1)The operations manager for a local bus company wants to decide whether he should purchase a new small, medium, or large bus for his company.
Explain which country has a comparative advantage in the production of hats and which country has a comparative advantage in the production of beer.
The payoff depicts service competition between two hospitals in a southwestern city. (Each payoff represents profit in millions of dollars) Hospital B's Service Basic All-Purpose Speciality Hospital A's Basic 5,7 5,4 12,6 services All-Purpose 4,5 ..
Explain how through trade a country can consume at levels beyond the reach of its production possibilities. Why do countries place restrictions on international trade? What is the difference between a tariff and a quota
We call the model of income determination developed in this chapter a Keynesian one. What makes it Keynesian, as opposed to classical?
Gene Milton borrowed a sum of $5,000 from his uncle Ben and after three years paid a sum of $5,000 and paid another $1,000 after 4 years to pay off the loan. Determine the interest rate Gene paid it the payments were based on yearly compounding.
Given an expected real interest rate of 2 percent. For each of the expected inflation rates of 0, 2, 4, 6, and 8 percent. How do I calculate the nominal interest rate and the after-tax expected real interest rate if the tax rate is 30 percent
Q1 kilowatts are produced at facility 1, and Q2 kilowatts are produced at facility 2 (so Q = Q1 + Q2). The costs of producing electricity at each facility are given by C1(Q1) = 8,000 + 6Q12and C2(Q2) = 6,000 + 3Q22, respectively. Determine the pro..
You are the manager of a firm that sells a "commodity" in a market that resembles perfect competition, and your cost function is C(Q) = Q + 2Q^2. Unfortunately, due to production lags, you must make your output decision prior to knowing for certai..
What is the gain of the circuit at arbitrarily low frequencies?
Ajax Cleaning Products is a medium-sized firm operating in an industry dominated by one large firm Tile King. Ajax produces a multi-headed tunnel wall scrubber that is similar to a model produced by Tile King. Ajax decides to charge the same price..
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