Answer:
Below is the solution to the given problem
Explanation:
a. What is the average number of customers waiting?
With one barber and exponential service, this system fits Model 1 in the text. λ = 3.000 per hour (given), μ= 60/17 = 3.529 per hour.
You are looking for Lq here.
Lq = λ
/ μ(μ – λ) = 
/3.529 (3.529 – 3.000) = = 4.82 customers
b. What is the average time a customer waits?
Wq = Lq/λ = 4.82/3.00 = 1.607 hours = 96.40 minutes
c. What is the average time a customer is in the shop?
You are looking for Ws here, and need to calculate Ls first.
Ls = λ / μ(μ – λ) = 3.00/3.529 – 3.000= 5.671
Ws = Ls/λ = 5.671/3.00 = 1.890 hours = 113.4 minutes
d. What is the average utilization of Benny's time?
ρ = λ/μ = 3.00/3.529 = 0.85 = 85.0%
Answer:
a. Profit; $520
b. Firms will enter; Left
c. Zero profits or normal profits
Explanation:
A restaurant is operating in a monopolistic competitive market.
The restaurant is producing 260 meals per day.
This is the profit maximizing level of output where the marginal cost is equal to marginal revenue.
The average total cost at this point is $10.
The price level is $12.
The profit or loss to the restaurant will be equal to the difference between total revenue and total cost.
a. Profit
= Total Revenue - Total cost
= $12
260 - $10 260
= $3,120 - $2,600
= $520
b. This supernormal profit will attract other firms to enter the market, as a result the market share of existing firms will decline. The demand curve of the restaurant will move to the left.
c. In the long run, the firms in a perfectly competitive market earn only zero economic profits as positive profits attract new firms and negative profits cause the firms to leave.
So the restaurant will have zero or normal profits in the long run.
Answer:
The correct answer to the following question is Initiating phase of the product life cycle.
Explanation:
When a company undertakes a project there is always risk on the success of project objectives, that's why it is important that a company implements risk management process as early as they can in the projects life cycle, starting with the initiating phase of the life cycle. So that the risk can be identified in early stage and then it cab be assessed properly and right responses can be developed before moving on to next stage of projects life cycle.
It depends on the contract. But it's mostly what seller do ...
Answer:
Twitter's amended S-1 filing
Maximum estimated capital expenditures in 2013:
= $98 million
Explanation:
Twitter's capital expenditures in 2013 can be estimated by subtracting the long-term or non-current assets of 2012 from 2013.
The 2013 long-term assets (Property and equipment, net) are worth $284,024,000
The 2012 long-term assets (Property and equipment, net) are worth $185,574,000
The capital expenditure in 2013 = $98,450,000
The implication is that Twitter added to (or increased) its property and equipment by $98,450,000, which represent new capital expenditures in 2013.
Twitter filed SEC Form 1-A (S-1) with the Securities and Exchange Commission (SEC) when it was seeking exemption for registration requirements for its public offerings as an "emerging growth company," as it is "allowed by the federal securities laws to elect to comply with certain reduced public company reporting requirements for future filings."
