6 QUESTION 12A country uses labor to produce cars and beer in autarky. When it beginstrade with another country, it exports cars and imports beer. Labor mobilityin both countries is restricted to movement between firms within an industry.Which of the following statements about post-trade real wages in thiscountry is correct?Real wage of car workers in terms of cars will increase.Real wage of beer workers in terms of cars will increase.Real wage of car workers in terms of beer will remain unchanged.Real wage of beer workers in terms of beer will fall.Real wage of car workers in terms of beer will increase.

We know, For free trade, Exported goods price will rise. Imported goods price will be down. In our…

Answered: QUESTION 12 A country uses labor to…

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 27EQ

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2. Suppose that in Example 2.27, 400 units of food A, 500 units of B, and 600 units of C are placed in the test tube each day and the data on daily food consumption by the bacteria (in units per day) are as shown in Table 2.7. How many bacteria of each strain can coexist in the test tube and consume all of the food? Table 2.7 Bacteria Strain I Bacteria Strain II Bacteria Strain III Food A 1 2 0 Food B 2 1 3 Food C 1 1 1
Suppose the coal and steel industries form a closed economy. Every $1 produced by the coal industry requires $0.30 of coal and $0.70 of steel. Every $1 produced by steel requires $0.80 of coal and $0.20 of steel. Find the annual production (output) of coal and steel if the total annual production is $20 million.
Question 3B CWD Electronics sells Televisions (TV), which it orders from the USA. Because of shipping and handling costs, each order must be for 10 TVs. Because of the time it takes to receive an order, the company places an order every time the present stock drops to 5 TVs. It costs $50 to place anorder. It costs the company $200 in lost sales when a customer asks for a TV and the warehouse is out of stock. It costs $50 to keep each TV stored in the warehouse. If a customer cannot purchase a TV when it is requested, the customer will not wait until one comes in but will go to a competitor.The following probability distribution for demand for TV has been and the time required to receive an order once it is placed (lead time) has the following probability distribution: The company has 10 TVs in stock. Orders are always received at the beginning of the week. Note that a lead time of 2 weeks imply that an order placed in week one will arrive in week 4. Hint . No order is placed until…
question 2 Hiring workers A company payshis skilled workers S15 per hour in his departmentassembly tool. semi-skilled workersin that department they earn S9 per hour To the employeestwo of shipments are paid SIO per hour Because of aincrease in orders, the company needs to contractemploy a total of 70 workers in the departments ofassembly and shipping Will pay a total of $760 per hourto these employees. Because of a contract with the unionlaw, twice as many semi-semi-workers should be employed.lified than skilled workers. How manysemi-skilled workers, skilled workers and employees ofshipments should hire the company? Note: Solve by Inverse-Excel # OF SEMI-SKILLED WORKERS # OF SKILLED WORKERS # OF SHIPPING WORKERS
Question 4 Three qualities of second-hand bicycles are available in equal numbers: high, medium, and low. There are many buyers and sellers, who value each quality of the bike differently. The value that each agent assigns to each quality of the bike is given below. Quality High Medium Low Buyer’s value 100 (high), 65 (medium), 30 (low) Seller’s value 75 (high), 60(medium) , 45 (low) (i) What is the efficient outcome in this market? Equivalently, which types of bikes should change their owners to maximise the social welfare? Suppose that the buyers do not know the quality of any particular bicycle for sale, but the sellers do know the quality of the bike they sell. The price at which a bike is traded is determined by demand and supply. Each buyer wants at most one bicycle. (ii) Assuming that each buyer purchases a bike only if its expected quality is higher than the price, and each seller is willing to sell their bike only if the price exceeds their valuation, what is the…
QUESTION 8b The Swamp Palace Museum (SPM) is an interactive museum that teaches visitors the ways of life on the swamps of the southern United States. Visitors can visit over 100 exhibits demonstrating the ecology of the swamp and the habits of the animals and insects that call the swamp home. Additionally, the museum includes several fast-food and full service restaurants and opportunity for swimming and several thrill rides. The park was originally supported with one time government funding but now it has to become self-supporting. After five years of operation, the park has not lacked for visitors but has struggled just to break-even. The Swamp Palace has sought help from the Marketivity Group to help them address the long-term viability of the park. Several technologies are considered as ways of enhancing value. One is a mobile phone app that will provide oral and visual navigation aids around the park. For instance, if someone says “take me to the Blind Bayou Bar,” the phone…
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Which of the following is the largest number of jobs that could theoretically be within the software industry at present, based on the information available? A) 1,4 million B) 2,4 million C) 4 million D) 8 million E) 10 million Transcribed Image Text:Preparing for Automation The possibility of having robots or mechanical assistants completing our laborious, dangerous, or repetitive day-to-day tasks has long been a dream of humanity. Now, as Robotic Process Automation (RPA) becomes commonplace, this dream or concern, depending on viewpoint - is getting closer. RPA, far from the walking, talking android commonly found in science fiction series, can be thought of as a programmable piece of software which, through using a series of rules, will complete repetitive tasks with a lower error rate and less interruption than a human completing the same tasks. The aim of RPA, beyond improving efficiency, is to free up humans from the monotony of roles like data entry, stock management and…

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