Reference no: EM132729100

Problem 1: Alex agreed to pay tax and tip at a restaurant with her four friends. Her friends paid 96 in total. If tax and tip totalled 20% of the cost of the meal, how much less did Alex pay than any one of her friends?

Figure: Multiple-Price Monopolist) The monopolist in the graph has market power; she can separate the market into different consumer groups based on their elasticities of demand and she can prevent arbitrage.

If the monopolist knows the willingness to pay for each of its customers and has marginal costs of $10, the producer surplus for the monopolist would be:

• Solidwood Corporation manufactures custom-made furniture. The following data pertains to Job X4A:Direct materials placed into production $9,000
• Direct labour hours worked 300 hours
• Direct labour rate per hour $15

Problem 2: Machine hours worked 100 hoursManufacturing overhead rate is $22.50 per machine hour. Refer to Solidwood Corporation. Suppose one-half of Job X4A was sold for $10,000. What would be the total amount of costs assigned to Job X4A?

Assume that human body temperatures are normally distributed with a mean of 98.21 degrees Upper F and a standard deviation of 0.63 degrees Upper F.

Problem 3: A hospital uses 100.6 degrees Upper F as the lowest temperature considered to be a fever. What percentage of normal and healthy persons would be considered to have a? fever? Does this percentage suggest that a cutoff of 100.6 degrees Upper F is? appropriate?

Problem 4: Physicians want to select a minimum temperature for requiring further medical tests. What should that temperature? be, if we want only? 5.0% of healthy people to exceed? it? (Such a result is a false? positive, meaning that the test result is? positive, but the subject is not really? sick.)