Answer:
The optimum maintenance crew size is 2 workers.
Explanation:
M/M/1 model for all: -
With one worker: λ= 3 per hour.
µ= 5 per hour.
Average number in system = λ/µ-λ =
= 1.5.
- With two workers: λ= 3 per hour µ= 7 per hour.
Average number in system = λ/µ-λ−=
=0.75.
- With three workers: λ= 3 per hour, µ= 8 per hour.
Average number in system = λ/µ-λ−=
=0.6.
# workers λ µ (ns) ($25*(ns)) ($4*(no.of workers) Total cost
1 3 5 1.5 37.50 4 $41.50
2 3 7 0.75 18.75 8 $26.75
3 3 8 0.6 15 12 $27.00
The optimum maintenance crew size is 2 workers.
Answer:
Household and government are related to each other in terms of economic unit. Household pay taxes to government and then government use that money for the people. Household earn the money by working in firms or by running their own business.
Environmental issues such as air pollution can affect the relationship between household and government. Popleuses their own transport to go to firms and the number of vehicles are increasing day by day which causes air pollution.
The government can form policies against personal transport and convince people to use public transport which will be beneficial for government as government will directly get money from household.
Answer:
a. $300,000
b. $200,000
Explanation:
a. The opportunity cost for labor is calculated by multiplying the hours of labor needed to complete the project with the market wage rate.
20,000 hours * $15 per hour = $300,000
b. There are some labors that are unemployed and has agreed to work for $10 per hour. The opportunity cost will now be lower than the previously calculated
20,000 hours * $10 per hour = $200,000
c. The opportunity cost depends on the wage rate of the labor. When the labors are employed at market rate, the opportunity cost is high and when there is unemployment the labors are willing to work for lower wage rate. The opportunity cost is decreased.
Answer: Exporting
Explanation: Export refers the process in which good produced in one country is purchased by some another country.
In the given case, Jerzey is using the method of counter trade for the purpose of exporting. In counter trade, the two firms exchange their product on the basis of their particular needs.
Thus, from the above we can conclude that the right answer is option D.
