Looking for suggested solutions for the 4 below questions. I have $60 in available tutor credits and until Sunday evening of 3/27.

1) Your airplane crashes in the Pacific Ocean. You land on a desert island with one other passenger. A box containing 100 little bags of peanuts also washes up on the island. The peanuts are the only thing to eat. Is this economy with two people, one commodity, and no production, represent the possible allocations in a diagram, and explain why every allocation is Pareto efficient. Is every allocation fair?

2) Musetta can work as many hours as she wants to each day (no more than 24, of course) at a wage rate of $30 per hour. She also receives a $50 gift from her mother each day. Sketch Musetta’s daily budget constraint in a diagram with leisure on the horizontal axis and income on the vertical axis.

3) Consider an economy with two people, Victoria and Albert, and two commodities, tea and crumpets. Currently, Victoria and Albert would be willing to substitute two cups of tea for one crumpet. Further, if the economy were to produce one less cup of tea, the resources released from tea production could be used to produce three more crumpets. Is the allocation of resources in this economy Pareto efficient? If not, should there be more tea or more crumpets?

4)  Thelma and Louise are neighbors. During the winter, it is impossible for a snowplow to clear the street in front of Thelma’s house without clearing the front of Louise’s. Thelma’s marginal benefit from snowplowing services is 12 – Z, where Z is the number of times the street is plowed. Louise’s marginal benefit is 8 – 2Z. The marginal cost of getting the street plowed is $16.

Sketch the two marginal benefit schedules and the aggregate marginal benefit schedule. Draw in the marginal cost schedule, and find the efficient level of provision for snowplowing services.

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"

LOOONG Project Assign-15 pages.

Please see the Instrcutions below, I have attached all the work that was done during Semester toward this Project AND I have included PROF. feedback of the work that was done. There are 3 parts, 3 Assignmnts done and I included them in the attached WORD doc. Also attached are the GUIDELINES for  Final Assgnm. and please address ALL PARTS of this in the Final Product. As I said, small parts were done already and you can include some of these in FIANL PRODUCT, as requested by FINAL PROJ GUIDELINES.

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"

LORAN (long distance radio navigation) for aircraft and ships use synchronized pulses transmitted by widely separated transmitting stations. These pulses travel at the speed of light (186,000 miles per second). The difference in the times of arrival of these pulses at an aircraft or ship is constant on a hyperbola having the transmitting stations as foci. Assume that two stations, 300 miles apart, are positioned on a rectangular coordinate system at (-150, 0) and (150, 0) and that a ship is traveling on a path with coordinates (x,75). Find the x-coordinate of the position of the ship if the time difference between the pulses from the transmitting stations is 1000 microseconds (0.001 second).

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"

Loren Vranich, a doctor practicing under the corporate name Family Health Care, PC., entered into a written employment contract to hire Dennis Winkel. The contract provided for an annual salary, insurance benefits, and other employment benefits. Another doctor, Dr. Quan, also practiced with Dr. Vranich. About nine months later, when Dr. Quan left the practice, Vranich and Winkel entered into an oral modification of their written contract whereby Winkel was to receive a higher salary and a profit-sharing bonus. During the next year, Winkel received the increased salary. However, a disagreement arose, and Winkel sued to recover the profit-sharing bonus. Under Montana lam, a written contract can be altered only in writing or by an executed oral agreement. Dr. Vranich argued that the contract could not be enforced because it was not in writing. Does Winkel receive the profit-sharing bonus? Did Dr. Vranich act ethically in raising the defense that the contract was not in writing?2. AcceptancePeter Andrus owned an apartment building that he had insured under a fire insurance policy sold by J.C. Durick Insurance (Durick). Two months prior to the expiration of the policy, Durick notified Andrus that the building should be insured for $48,000 (or 80 percent of the building’s value), as required by the insurance company. Andrus replied that (1) he wanted insurance to match the amount of the outstanding mortgage on the building (i.e., $24,000) and (2) if Durick could not sell this insurance, he would go elsewhere. Durick sent a new insurance policy in the face amount of $48,000, with the notation that the policy was automatically accepted unless Andrus notified him to the contrary. Andrus did not reply. However, he did not pay the premiums on the policy. Durick sued Andrus to recover these premiums. Who wins?3. Preexisting DutyRobert Chuckrow Construction Company (Chuckrow) was employed as the general contractor to build a Kinney Shoe Store. Chuckrow emplyed Ralp Gough to perform the carpentry work on the store. The contract with Gough stipulated that he was to provide all labor, amterials, tools, equipment, scaffolding, and other items necessary to complete the carpentry work. Gough’s employees erected 38 trusses at the job site. The next day, 32 of the trusses fell off the building. The reason for the trusses having fallen was unexplained, and evidence showed that it was not due to Chuckrow’s fault or a deficiency in the building plans. Chuchrow told Gough that he would pay him to reerect that trusses and continue work. When the job was complete, Chuckrow paid Gough the original contract price but refused to pay him for the additional cost of reerecting the trusses. Gough sued Chuckrow for this expense. Can Gough recover?4. Unilateral MistakeMrs. Chaney died, leaving a house in Annapolis, Maryland. The representative of her estate listed the property for sale with a real estate broker, stating that the property was approximately 15,650 square feet. Drs. Steele and Faust made an offer of $300,000 for the property, which was accepted by the estate. A contract for the sale of the property was signed by all the parties. When a subsequent survey (done before the deed was transferred) showed that the property had an are of 22,047 square feet, the estate requested the buyers to pay more money for the property. When the estate refused to transfer the property to the buyers, they sued for specific performance. Can the estate rescind the contract?

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"