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Hoochie [10]
2 years ago
15

Chris and Jordan are a two-person household. Chris's market hourly wage is $40, but Chris can also produce $20 of household prod

uction each hour. Jordan's market hourly wage is $50, but Jordan can also produce $30 of household production each hour. This household chooses work schedules to maximize utility. When it does this, which of the following cannot occur. A. Jordan specializes in household production, while Chris specializes in marketplace work. B. Jordan specializes in marketplace work, while Chris splits time between marketplace and household work. C. Chris specializes in marketplace work while Jordan specializes in household production. D. Chris specializes in marketplace work, while Jordan splits time between marketplace and household work.E. All of the above results can happen.
Business
1 answer:
andrezito [222]2 years ago
6 0

Answer:

A. Jordan specializes in household production, while Chris specializes in marketplace work.

Explanation:

Chris and Jordan both can work for their household. The best way is to achieve maximum utility by using the combination of their skills. Chris can go for household work and Jordan can go for marketplace work. They both can use combination of their specialization to achieve maximum utility.

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A bank of 10 machines requires regular periodic service. Machine running time and service time are both exponential. what is the
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hello your question lacks some details below is the complete question

A bank of 10 machines requires regular periodic service. Machine running time and service time are both exponential. Machines run for an average of 44 minutes between service requirements, and service time averages six minutes per machine

If operators cost $15 per hour in wages and fringe benefits and machine downtime costs $75 per hour in lost production, what is the optimal number of operators for this bank of machines?

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