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the Indiana Memorial Union, we are glad to have you on board with our IMU event catering business. Traditionally, we have had two product lines offered: (i) small event catering, less than 20 guests or (ii) large event catering, of over 100 guests. However, we have received a lot of requests for medium sized events and are considering adding an 60 guest event to our regular product offerings. Thus, we would like you to give us some recommendations on how to staff this new 60 guest product line. As you know our dinners are prepared off-site and then we use our delivery trucks and drivers to bring them to our wait staff to serve them on site. Please note that we currently own 9 delivery trucks which we use for each event and we do not have the capabilities to expand our capital investment at this time, so please only review the on-site production of served dinners and assume that our capital is fixed. For serving 60 dinners we estimate our production function to be Q=(1/10)(U2)(S)(D1/2), where U is unskilled labor (wait staff) that we pay an hourly wage of $10, and S is skilled labor (staff managers) that we pay an hourly wage of $25, and D is capital (our 9 delivery trucks). Also, in your analysis please note that we do not employ labor in fractional hours.
The Arena Corporation, which sells engines, has a uniform value of $500, which is charges all its consumers. But, after its competitors begin to cut their rates in the California market to $400, Arena decrease its price to $400.
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Why did the budget deficits rise sharply in 1991 and 1992 what explains the ;arge budget surpluses of the late 1900s and early 2000s What caused the swing from the budget surpluses to the series of budget deficits beginning in 2002
Sales associates carry personal digital assistants to relay information on fashion trends and customer demand back to the company's team of 200 designers in Spain. Real-time sales data allow the factory to increase production of items that are sel..
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Graph the firm’s long-run average cost and show that it reaches a minimum where q =1. Determine the long-run equilibrium price (p*) and the firm’s long-run equilibrium output (q*).
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