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The sales counter next to the soft toy display in Shambles receives a customer every 2-4 minutes. Most of these customers (80%) are buying toys and are dealt with by the cashier in 3-5 minutes. The remaining 20% of customers come to open accounts that require an account manager. These customers wait for the account manager, who spends 10-20 minutes in serving them.
a) You are required to simulate a 10-hour day in this department using GPSS. To begin with, construct a flowchart describing the above events using suitable GPSS blocks.
b) Now carry out the simulation in GPSS, giving your programme (code) and simulation report.
c) Describe the results of your simulation using the simulation report, giving as much detail as possible.
If there are economies of scope and if the price for each product equals marginal cost, is it possible for a firm to cover all its costs? If the firm's average cost of production d
factor for long run trend of term of trade
Suppose you have the following information about a closed economy: C = 50 + 0.80 (Y-T) I = 200 G = 100 a) Find out the equilibrium level of income. b) Suppose G in
Effects of consumption function.
The amount of wealth that households and business desire to hold in the form of money balances is called the 'demand for money'. Individuals and firms have at their command only
The United States is considered to be an industrialized nation because we have such a high standard of living. Countries with lower standards of living are considered to be emergin
Question 1: Consider a two-period, two-person pure exchange economy. Utility functions and endowments are given as follows. u1(x0; x1) = (x0x1)2 and e1 = (18; 4) u2(x0; x1) = ln x0
Can you think of examples where the government does not intervene enough when it comes to consumer safety and product information? Examples where too much intervention is the case
Q. What is the basic function of Central banks? A central bank is a public authority which is responsible for monetary policy for a country or a group of countries. Two signifi
A) Suppose Jean Splicer, an investor, buys $300,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $315,000. Assume
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