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A tailor must make 6 of the same size suits for a client. The first suit took 14.7 hours to make and the last suit took 7.9 hours to make. What was the tailor's learning curve % of this run of suits assuming a steady state of production is never reached? Express your answer in % to the nearest 0.1%
Suppose the owner of the trawler can sell al the fish caught for $75 every 100 pounds also can hire a man crew members as desired by paying them $150 every week.
If Brad works in the labor market, he can earn a wage of $500 per hour, while Angelina can earn $600 per hour. Considering comparative advantage, which of the two should specialize in the labor market? Explain.
Describe three types of physician remuneration schemes and comment on physician incentives under each scheme. For each scheme, summarize the evidence regarding physician behaviour.
7) in 1988, the average wage rate was 9.45 an hour and in 2008 the average wage rate was 18 an hour. The CPI in 1988 was 118.3 and in 2008 it was 215.3. which is real wage rate is higher?
Suppose an individual’s inverse demand for fish caught by a commercial fishery is estimated to be P = 10 – 0.4Q, where P is the price of fish (per pound) and Q is the quantity of pounds demanded.
List and describe the firms in the Industry. Describe the product, production methods, scale of production, and sources for raw materials. What technologies are used?
Outline and describe in order of sequence the key items that led to the War of Independence. Explain why the navigation laws were so important to England. Explain the whys of the policy of salutary neglect.
jean invests 1000 into her employers retirement plan on 31st birthday also she continues to make annual 1000 payments
There are five flights daily from Pittsburgh via US Airways into the Bradford, Pennsylvania, Regional Airport. Suppose the probability that any flight arrives late is 0.20, the probability that none of the flights are late today is [a]. (Note: keep t..
Find the equilibrium price and quantity after the shift of the demand curve.
A retired junk yard operator, Edsel Studebaker, recently died and left his entire fortune of $12,300,000 to a trust to establish a junk car museum. The trustees must decide how to spend it. Land can be purchased for $180,000 now. how many cars should..
How much of Nm and Nw can you advise to use, how much M and W will be produced from the levels of nitrogen in (a) and determine the value marginal products of the two enterprises.
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