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In queuing theory, if the arrivals are according to Poisson distribution with parameter λ , the inter-arrival time is exponential with parameter e λ

Theory states that a profit maximizingfirm will hire workers up to the point where the marginal revenue product is equal to the wage rate, because it is not efficient for a firm to pay its workers more than it ...

Explain the relationship between profit maximisation and labor demand

New Mexico has an area of 121,298 square miles. California has an area of 155,779 square miles. How much greater is the area of California than New Mexico

An Eskimo returning from a successful friction trip pulls a sled loaded with salmon. The total mass of the sled and salmon is 50.0kg and the Eskimo exert a force of 120N on the sled by pulling on the rope. a) H ...

Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.\n a.3700 b.4700 d.8700 c.None of ...

The areas of regulations of banks by CBN includes all of the following except_________ a. Deposit base reserves b.Capital base statutory reserves c.Bank size distribution d.Bank obligations

What is administrative history and how it is relevant to contemporary issues on national administration

The muzzle speed for a Lee–Enfield rifle is 630 m s−1 . Suppose you fire this rifle at a target 700 m away and at the same level as the rifle. (a) In order to hit the target, you must aim at the barrel at a ...

White blood cell counts per cubic millimeter of whole blood approximately follow the Normal Distribution with mean 7500 and standard deviation 1750. The lowest 2% of all WBC counts are defined to be probable ri ...

Suppose in a region each household produces either 1 pair of shoes or 1 gallon of milk per hour. One mile of round-trip travel takes 12 min. A firm produces shoes. The firm faces CRS in production and charges c ...

How does equilibrium level of income is determined? which factors do changes in the national income?

An advertising agent goes on vacation to three countries, India, New Zealand and Australia. He spends three times the number of days in New Zealand than he does in Australia and five days longer in India than i ...

A car accelerating at 2.5 m/s2 reaches a velocity of 30 m/s in 6 seconds. The car's initial velocity was m/s

Use clearly labeled diagrams to explain the effect to the equilibrium price and quantity of Good X if: a) The cost of producing Good X is increased b) The consumer income increased.

What events brought about the unification of Germany?

Discuss five determinants of economic growth in an economy.

A constant force changes the speed of a 100kg sprinter from 4.0m/s to 6.0 m/s in 1.0 s. Calculate a) The acceleration of the sprinter during this time. b) The magnitude of the force

A rectangular (uncovered) container can fill up 3000 cm3 of liquid that fixed with a length of 20cm. Find the dimensions of the container that has the least surface area.

In the short run,when should a firm continue with production according to shut down rule?