Twentyfirst Century Electronics has discovered a theft problem at its warehouse and hasd decided to hiresecurity guards. The firm wants to hire the optimal number of security guards. The following table showshow the number of security guards affects the number of radios stolen per week.Number of GuardsO12345Number of Radios Stolen per week5030201486a) If each security guard is paid $200 a week and the cost of a stolen radio is $25, how many securityguards should the firm hire?b) If the cost of a stolen radio is $25, what is the most the firm would be willing to pay to hire the firstsecuirty guard?c) If each security guard is paid $200 a week and the cost of a stolen radio is $50, how many securityguards should the firm hire?

The objective of the question is to determine the optimal number of security guards the firm should…

Answered: Twentyfirst Century Electronics has…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Twentyfirst Century Electronics has discovered a theft problem at its warehouse and has decided to hire security guards. The firm wants to hire the optimal number of security guards. The following table shows how the number of security guards affects the number of radios stolen per week. Number of security guards Number of radios stolen per week 0 50 1 30 2 20 3 14 4 8 5 6 a- If each security guard is paid $200 a week and the cost of a stolen radio is $25, howmany security guards should the firm hire?b. If the cost of a stolen radio is $25, what is the most the firm would be willing to payto hire the first security guard?c. If each security guard is paid $200 a week and the cost of a stolen radio is $50, howmany security guards should the firm hire
You are working for the chiefeconomist at Microsoft. Microsoft’s only significantcosts to producing and distributing a new version itit’s operating system is $30,000 in wages to itsemployees, $15,000 in computer testing, and$5,000 in utilities. Microsoft’s marketing department estimates that thedemand a new version it it’s operating system is Q = 320 – 0.5 P, with Pmeasured in dollars.What price should Microsoft charge for a new version it it’s operatingsystem? What profit should Microsoft expect?
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The manager of the donut shop tells you that hesells donuts for $1 each, and that if he were to makeadditional donuts, based on his current level ofoutput, it would cost him $0.80 per donut. Do yourecommend that the manager increase or decreasethe number of donuts he makes?
WHY BARTLEBY IS TAKING MORE THAN 2 DAYS TO ANSWER ONLY ONE QUESTIONS. FOR THE LAST 2 WEEKS YOU ARE DOING THE SAMETHING TAKING FEWS DAYS TO ANSWER ONLY ONE, IF I INCLUDE 2 QUESTIONS, WHEN IT TAKES TO MUCH TIME AND I'M THINKING THAT MIGHT BE ANSWERING BOTH QUESTIONS BECAUSE OF THE TIME, WHEN IT SAYS THAT THEY ANSWER THE FIRST QUESTIONS. I'M GETTING FRUSTADED WITH BARTLEBY.
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Briefly explain why quantifying nsk is important to decision making Why is it important to quantity risk when making a decision? OA Quantifying risk is important so it can be measured against the benetits when making decisions appropriate for our own personal crcamstances OB. Quantifying risk is important so it can be measured against the benetts when making decisions idealy the risk wil equal the benefts OC. Quantifying risk is important so it can be measured against the benefits when making decisions ideally the risk will outweigh the benefs OD. Quantifying risk is important so it can be measured across a population and help identity why people make the decisions they do
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Describe the results shown in the following graph. 1) What does Estimated Effect mean here? 2) What do the authors find? 3) Why is the estimated effect near O for 4 months after the implementation of a stay at home order? 12 Months from stay home order Estimated Effect
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