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The time it takes a worker on an assembly line to complete a task is exponentially distributed with a mean of 8 minutes. a. What is the probability density function for the time it takes to complete the task? b. What is the probability that it will take a worker less than 4 minutes to complete the task? c. What is the probability that it will take a worker between 6 and 10 minutes to complete the task?
Illustrate what does your organization or an organization with which you are familiar consider opportunity costs when evaluating strategic opportunities.
Suppose you were having lunch with your best friend who just enrolled in an economics class. He was complaining about Explain how irrelevant class was, commenting that he saw no useful purpose for economics.
As a result, price of Domino's pizzas fell from $8 a pie to $2 a pie following week. Quantity of pizzas demanded soared following week from 1 pie an hour to 100 pies an hour. What was price elasticity of demand for Domino's pizza.
Is there a relationship between GDP and the business cycle. If so, explicitate relationship exists and how might a business manager use this information to increase their profits.
Price higher in monopoly market. Bigger quantity in perfect competition. How can a firm gain by reducing competition.
Illustrate what recieves goverment subsides that are in place to protect the population rather than for economic reasons.
The price of wine is $10 per bottle, and the price of cheese is $4 per pound. The last bottle of wine added 50 units to Bridget's utility, while the last pound of cheese added 40 units. Is Bridget making the utility-maximizing choice.
Compute the changes in consumer surplus, producer surplus, government revenue and third party surplus. Also, show these changes on a graph.
A hearing is scheduled for your company to Current arguments that your industry has not increased its market power through this merger. Can you do this. How. Illustrate what evidence might you bring to hearing.
how much are households paid for providing entrepreneurial ability.
Illustrate what varibles other than price appear to have the biggest impact on the demand for mcdonald's products. how much influence does the company have over these varibles.
Describe Illustrate what will happen in this market as it moves to a new equilibrium. If a hard freeze eliminates Brazil's premium coffee crop, illustrate what will happen to cost of premium coffee.
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