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In a textile plant, cloth is manufactured in rolls of length L. Defects sometimes occur along the length of the cloth. Consider a specific roll with (N - 1) defects appearing at distances y1, y2, . . . , yN-1 from the start of the roll (yi+1 > yi for all i). Denote the start of the roll by y0, the end by yN.
The roll is cut into pieces for sale. The value of a piece depends on its length and the number of defects. Let
v(x, m) = Value of a piece of length x having m defects.
Assume that all cuts are made through defects and that such cutting removes the defect. Specify how to determine where to cut the cloth to maximize total value.
How would the shift to a fully funded system affect the level and the rate of growth of output per worker in the long run?
In May 2012, the yields to maturity in the table below were recorded on Treasury discount bonds. If the expectations theory of the term structure holds, what do bond traders expect the interest rate on five-year discount bonds to be in May 2017, M..
Assume an automobile manufacturer can sell its pickup truck with or without a towing package. Customer Group A is willing to pay a maximum of $30,000 for the truck and $1,100 for the towing package. Customer Group B is willing to pay $29,000 for t..
What does behavioral economics have to say about each of the following statements?
After graduating from UCR with a stellar degree in economics, Jack is going to work at WorldWideWidgets. He gets to design his own compensation package in terms of the balance of base salary and commission.
Using your EAEF data set, regress LGEARN on S, ASVABC, MALE, ETHBLACK, ETHHISP, and PWE .Compare the results with the corresponding regression without PWE. You are likely to find that the coefficient of S is greater than before. Can you explain wh..
Water damage from flooding related to hurricane Sandy in two northeastern Cities resulted in damages estimated at $216 million. As a result of the claimant payouts, insurance companies raised homeowners' insurance rates by an average of $118 per y..
tim has purchased a ticket to see a concert in miami. the ticket cost dave 600. to attend the concert tim will have to
Etta and Moorea run a stand where they sell lemonade and brownies. Their cost function is \(C(Q_{L}, Q_{B})= .50Q_{L}+0.25Q_{B}+Q_{L}^{2}+Q_{B}^{2}-Q_{L}Q_{B}\) They can sell a cup of lemonade for $1.20 and a brownie for $0.95. What a..
Making dresses is a labor-intensive process. Indeed, theproduction function of a dressmaking firm is well described by theequation Q = L - L2/800, where Q denotes the number ofdresses per week and L is the number of labor hours per week.
The long-run average cost curve for a firm in an industry is: ATC = 10Q2 - 50Q + 100, and its marginal cost is: MC = 30Q2 - 100Q + 100. Market Demand is given by: Qd = 9000 - 200Pmkt a) In the long-run equilibrium, how much will each firm produce
Consider a modification to (11.43) where you do not penalize the constant. Formulate the problem, and characterize its solution.
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