Microeconomics

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Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens.  If Michelle devotes all her resources to growing potatoes, she can raise 200 pounds of potatoes per year. If she devotes all her resources to raising chickens, she can raise 50 chickens per year. (If she apportions some resources to each, then she can produce any linear combination of chickens and potatoes that lies between those extreme points.  If James devotes all his resources to growing potatoes, he can raise 80 pounds of potatoes per year. If he devotes all his resources to raising chickens, he can raise 40 chickens per year. (If he apportions some resources to each, then he can produce any linear combination of chickens and potatoes that lies between those extreme points.) 

 

 

Potatoes

Chickens

Michelle

200

50

James

80

40

  • What is Michelle’s opportunity cost of producing potatoes? 
  • What is Michelle’s opportunity cost of producing chickens? 
  • What is James’ opportunity cost of producing potatoes?
  • What is James’ opportunity cost of producing chickens?
  • Which person has an absolute advantage in which activities?
  • Which person has comparative advantage in potatoes?
  • Which person has comparative advantage in chicken? 
  • Suppose that they are thinking of each specializing completely in the area in which they have a comparative advantage, and then trading at a rate of 2.5 pounds of potatoes for 1 chicken, would they each be better off? Explain.
  • How would you extend the above narrative to businesses, society as a whole or nations? Explain
 

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Ingrid types 3 pages in the same amount of time that Tanya types 4.5 pages.If Ingrid and Tanya start typing…

Ingrid types 3 pages in the same amount of time that Tanya types 4.5 pages.If Ingrid and Tanya start typing at the same time, how many pages will Tanya have typed when Ingrid has typed 11 pages.
 

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Aggregate Planning management homework help

Aggregate planning is the process of establishing the magnitude and timing of production over an intermediary time frame.

  • Are any of the following methods more effective for products or services? Please explain your response in 250-350 words.
    • Linear programming
    •  Linear decision rule
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    A minimum of one resource is required.

     

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    the costs C and income I for making and selling t-shirts with a school logo are given by the equasions C=$535+4.50n and I=$12n. how many tshirts must be bought and sold to break even? explain.
     

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    The Class Everyone At Zappos Takes Module One Assignment help

    The Class Everyone At Zappos Takes (Links to an external site.)undefined

    Please review the short YouTube video link provided.  Then, read about Zappos training program in your book, starting on page 51. Then, answer the following questions in memo format.  Each question should consist of 2-3 paragraphs, relating back to the readings for this week. 

    1. What challenges is Zappos facing that may derail its attempt to be the best online retailer?

    2.  How can training and development help Zappos meet these challenges?

    3.  Do additional research on Zappos and then answer (providing your web link): Do you think employees at Zappos have a high level of engagement?  Why or why not?  What part of this can be attributed to training?

     

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    M3 w1 Assignment manager at a major bottling company business and finance homework help

    Imagine you are a manager at a major bottling company. Customers have begun to complain that the bottles of the brand of soda produced in your company contain less than the advertised sixteen (16) ounces of product. Your boss wants to solve the problem at hand and has asked you to investigate. You have your employees pull thirty (30) bottles off the line at random from all the shifts at the bottling plant. You ask your employees to measure the amount of soda there is in each bottle. Note: Use the data set provided by your instructor to complete this assignment. 

    Bottle Number

    Ounces

    Bottle Number

    Ounces

    Bottle Number

    Ounces

    1

    14.23

    11

    15.77

    21

    16.23

    2

    14.32

    12

    15.80

    22

    16.25

    3

    14.98

    13

    15.82

    23

    16.31

    4

    15.00

    14

    15.87

    24

    16.32

    5

    15.11

    15

    15.98

    25

    16.34

    6

    15.21

    16

    16.00

    26

    16.46

    7

    15.42

    17

    16.02

    27

    16.47

    8

    15.47

    18

    16.05

    28

    16.51

    9

    15.65

    19

    16.21

    29

    16.91

    10

    15.74

    20

    16.21

    30

    16.96

    Write a two to three (2-3) page report in which you:

    1. Calculate the mean, median, and standard deviation for ounces in the bottles.
    2. Construct a 95% Confidence Interval for the ounces in the bottles.
    3. Conduct a hypothesis test to verify if the claim that a bottle contains less than sixteen (16) ounces is supported. Clearly state the logic of your test, the calculations, and the conclusion of your test.
    4. Provide the following discussion based on the conclusion of your test:  

    aIf you conclude that there are less than sixteen (16) ounces in a bottle of soda, speculate on three (3) possible causes. Next, suggest the strategies to avoid the deficit in the future.

    OR

    bIf you conclude that the claim of less soda per bottle is not supported or justified, provide a detailed explanation to your boss about the situation. Include your speculation on the reason(s) behind the claim, and recommend one (1) strategy geared toward mitigating this issue in the future.

    Your assignment must follow these formatting requirements:

    • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.  No citations and references are required, but if you use them, they must follow APA format. Check with your professor for any additional instructions.
    • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

    The specific course learning outcomes associated with this assignment are:

    • Calculate measurements of central tendency and dispersal.
    • Determine confidence intervals for data.
    • Describe the vocabulary and principles of hypothesis testing.
    • Discuss application of course content to professional contexts.
    • Use technological tools to solve problems in statistics.
    • Write clearly and concisely about statistics using proper writing mechanics.

    Don’t try to pull off a copy and paste from another website because some other dumb person tried to do that.

     

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