Answer:
790,000, i.e. $79 x 10,000= 790,000
. Yes, the manufacturer should change the design. 666,667 (when it goes from 1/10,000 to 1/15,000). It is 500,000 (when it goes from 1/10,000 but 1/20,000)
. No, the benevolent social planner would not agree with the manufacturer's decision.
Explanation:
In the estimates provided by the manufacturer, the total cost of the design is equivalent to $79 x 10,000= 790,000. There should be an alteration in the design to remove the necessary precautions. If the probability is different from the estimate provided by the manufacturer, the planner will disagree with the decision made by the manufacturer. For example, a change to 1/15000 will make the total cost to be approximately $666,667.
Answer:
<u>Line of credit </u>
Explanation:
A line of credit refers to a mechanism of availing short term credit from banks whereby a borrower is provided with a preset limit till which funds can be availed anytime.
As the borrower repays the money borrowed, the line of credit gets restored to the previous level provided it is an open line of credit.
Line of credit specifies the maximum limit till which money can be borrowed. The rate of interest and repayment time period are decided by the lender which is usually a bank.
Borrower is usually supposed to pay interest upon the money actually borrowed and not the full limit of the line of credit.
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Answer:
the income is $1,330
Explanation:
The computation of the income is shown below;
Given that
U(x, y) = min{x, y2}
Price of x is $25
ANd, the prcie of Y is $15
So,
25X + 15Y = M
if Y = 7,
So,
At eqm, X = Y^2 = 49
Then ,
M = 25 × 49 + 15 × 7
= 1225 + 105
= 1330
Hence, the income is $1,330
The same should be relevant and considered too
