Reference no: EM131104886
a. If each security guard is paid $200 a week and the cost of a stolen radio is $25, how many security guards should the firm hire? b. If the cost of a stolen radio is 525, what is the most the firm would be willing to pay to hire the first security guard? c. If each security guard is paid $200 a week and the cost of a stolen radio is 550, how many security guards should the firm hire?
2. Appalachian Coal Mining believes that it can increase labor productivity and there-fore, net revenue by reducing air pollution in its mines. It estimates that the marginal cost function for reducing pollution by installing additional capital equipment is
MC = 40P
where P represents a seduction of one unit of pollution in the mines. It also feels that for every unit of pollution reduction the marginal increase in revenue (MR) is MR = LOCO — 10P How much pollution reduction should Appalachian Coal Mining undertake?
1. The director of marketing at Vanguard Corporation believes that sales of the com-pany's Bright Side laundry detergent (S) are related to Vanguard's own advertising ex-penditure (A), as well as the combined advertising expenditures of its three biggest rival detergents (R). The marketing director collects 36 weekly observations on S, A, and R to estimate the following multiple regression equation: S = a + bA + cR where S, A, and It are measured in dollars per week. Vanguard's marketing director is comfortable using parameter estimates that are statistically significant at the 10 percent level or better. a. What sign does the marketing director expect a, b, and c to have? b. Interpret the coefficients a, 1), and c. The regression output from the computer is as follows:
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Consumer who is maximizing utility
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How many security guards should the firm hire
: a. If each security guard is paid $200 a week and the cost of a stolen radio is $25, how many security guards should the firm hire? b. If the cost of a stolen radio is 525, what is the most the firm would be willing to pay to hire the first security ..
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