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Two girder designs are under consideration for a bridge for a 1,200-foot crossing. The first design is expected to result in a superstructure weight per foot of 22(S) + 800, where S is the span between piers. The second design should result in superstructure weight per foot of 20(S) + 1,000. Piers and two required abutments are estimated to cost $220,000 each. Let X = the number of piers plus abutments. The superstructure will be erected at a cost of $0.55 per pound. Choose the girder design that will result in a minimum cost and specify the optimum value for X. Hint: X must be an integer.
Hook, Inc., is an international manufacturer of bulk antibiotics for the animal feed market. Dr. Mike Jones, head of marketing and research, seeks your advice on an appropriate pricing strategy for Pharmed Caplets, an antibiotic for sale to the veter..
The nation with the lowest opportunity cost of producing a good has a?
q1. discuss one recent price change that you have noticed while visiting your local supermarket. determine whether or
propose to model his tastes in the following way: For any 2 bundles A and B of "grams of cocaine" and "dollars of other consumption.
You buy a new pair of shoes on sale. The printed receipt states very clearly that the shoes are not returnable. After you get them home, you wear the shoes around the house for a day and decide that they just don’t fit you correctly.
Some economists believe that creeping inflation cannot be accepted because a gradual increase in prices leads to an ever-rising rate of inflation. Other economists argue that in order to achieve economic growth, some moderate price increases are nece..
Mrs. Siegal has two alternative activities to help relieve her backache. In the first, she can visit a physiotherapist. The total time for a physiotherapist visit, including travel and waiting, is two hours. Mrs. Siegal earns a wage of $20 an hour. ..
a. Summarize the recent policy of the Federal Reserve concerning the level of interest rates and the reasons for this policy. Do you agree with this policy? Why or why not? b. How does this policy affect the supply of and demand for products and serv..
A consumer wants to minimize her expenditures, E= PxX + PyY, subject to maintaining a given level of utility, \bar{U} = xy. form the Lagrangian for this problem, derive the first-order conditions for an expenditure minimum, and solve those conditions..
Felix runs a surfing school on the North Shore of Oahu. He has two inputs: surfboards, which he rents from a local shop for $10 per day, and surfing instructors, whom he hires for $40 per day. Felix could lower his costs without reducing his output i..
Boris budgets $40 week for his morning coffee with milk. He likes it only if it is prepared with 3 parts coffee, 2 part milk U= min{3/2M,C}. Coffee costs $2/oz, milk $1/ oz. (For the questions below, show your work briefly) How much coffee and how mu..
An individual purchases quantities a, b, and c of three different commodities whose prices are p, q, and r, respectively. The consumer spends m dollars, where m > 2p, and the utility function is given by. Show that the optimal expenditure on the seco..
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