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restaurant has three sources of revenue each normally distributed with mean of $5780, $641 and $712 respectively and std deviation of $142, $78 and $72 respectively.Will the total revenue on any day be normally distributed?
However, when the commissioner granted the 10 percent increase, revenues increased by only about 5 percent. What can you infer about the elasticity of demand for taxicab rides. What were taxicab drivers assuming about the elasticity of demand.
2. Find the marginal utility of good x2 3. Calculate the Marginal Rate of Substitution between good x2 and good x1: MRSx2,x1 = (du(·)/dx2)/(du(·)/dx1) 4. Equate this marginal rate of substitution to the ratio of prices : (Px2)/(Px1)
Derive an expression for the firm's marginal revenue curve. b. To maximize profit, how many lasers should the firm produce and sell per month c. If this number were produced and sold, what would be the firm's monthly profit
Your own in-house staff will be responsible for integration and quality control. Because the software and the PBC are contract items, you must carefully monitor the integration phase.
A firm is considering three mutually exclusive alternatives as part of a production improvement program. The alternatives are as follows: A B C Installed cost $10,000 $15,000 $20,000 Uniform annual benefit 1,625 1,625 1,890 Useful life in years 10..
What are the highest and lowest payments from the writer that the beekeeper farmer team will accept for the sixth day Assuming that the farmer can dispose of $7 from the writer as she wishes, what range of payments will the beekeeper accept
explain how the values (how to calculate them) for Marginal Physical Product and Marginal Revenue Product First Column: Number of workers Second Column: Total output Third Column: Marginal Physical Product Fourth Column: Marginal Revenue Product
Given population = 500, Population 16+ and non-institutionalized = 400, People employed full or part-time = 200 People unemployed and actively seeking work = 20 People who have quit seeking work due to lack of success = 10Part-time workers seeking fu..
Consider the following payoff matrix in which the numbers indicate the profit in millions of dollars for a duopoly based either on a high-price or a low-price strategy. Firm A High-price Low-price What will be the result when Firm A chooses a low-..
It is estimated that .44 percent of the callers to the Customer Service department of Dell, Inc. will receive a busy signal. What is the probability that of today's 1,100 callers at least 5 received a busy signal Use the poisson approximation to t..
What are the impact and long-run propensities and explain the nature of potential multicollinearity in the explanatory variables when data for marriage and income is observed each month.
An expenditure of $20,000 is made to modify a material-handling system in a small job shop. This modification will result in first-year savings of $2,000, a second-year savings of $4,000, and a savings of $5,000 per year thereafter.
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