Public Good. Suppose there are two goods X and Y in the economy where X is a public good and Y is a private good. Let X + Y = 100 denote the Production Possibility Frontier (PPF). There are two individuals A and B with utility functions uA(X, YA) = XYA and uB(X, YB) = XYB. Note that X does not have a subscript because it is a public good and the two individuals have to consume the same amount. Y is a private good so Y = YA + YB. (a) Suppose A is to achieve a utility of ¯uA. Find the amount of YB available to individual B as a function of different values of X. (b) Find the amount of X and YB that will maximize individual B’s utility. This could depend on ¯uA. Find individual A’s consumption of YA as well. (c) What is the condition for Pareto efficient allocation in such a case? Is the answer you find in part (b) Pareto efficient.

What is the purpose of taking a personality inventory assessment? a. to find out what personality traits you should acquire for a successful career b. to identify your personality traits and relate them to a suitable career c. to compare your personality traits with those of successful people in different careers d. to identify aspects of your personality that you can improve with the of a counselor

Acompany manufactures hair dryers. it buys some of the components, but it makes the heating element, which it can produce at the rate of 920 per day. hair dryers are assembled daily, 250 days a year, at a rate of 360 per day. because of the disparity between the production and usage rates, the heating elements are periodically produced in batches of 2,300 units. a. approximately how many batches of heating elements are produced annually? b. if production on a batch begins when there is no inventory of heating elements on hand, how much inventory will be on hand 4 days later? c. what is the average inventory of elements, assuming each production cycle begins when there are none on hand?

Companies in the u.s. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. in 2011 hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. the following data show the number of cars in service (1000s) and the annual revenue ($ millions) for six smaller car rental companies (auto rental news website, august 7, 2012). excel file: data14-09.xls if required, enter negative values as negative numbers. a. select a scatter diagram with the number of cars in service as the independent variable. b. what does the scatter diagram developed in part (a) indicate about the relationship between the two variables? c. use the least squares method to develop the estimated regression equation (to 3 decimals). ŷ = + x d. for every additional car placed in service, estimate how much annual revenue will change. by $ e. fox rent a car has 11,000 cars in service. use the estimated regression equation developed in part (c) to predict annual revenue for fox rent a car. round your answer to nearest whole value. $ million hide feedback partially correct