In Chapter 3, Wheelan describes a number of ways in which the "government is your friend" in a well-functioning society and economy. List and explain two ways that, in your everyday lives, there is a need for an effective government role in an economy. Explain how this government role does, or does not, solve a market failure such as an externality.

Needs to schedule the staffing of the center. it is open from 8am until midnight. larry has monitored the usage of the center at various times of the day and determined that the following number of computer consultants are required: time of dayminimum number of consultants required to be on duty8 am-noon4noon-4 pm84pm-8pm108pm-midnight6 two types of computer consultants can be hired: full-time and part-time. the full- time consultants work for eight consecutive hours in any of the shifts: morning (8am- 4pm), afternoon (noon-8pm) and evening (4pm-midnight). full-time consultants are paid $14 per hour. part-time consultants can be hired to work any of the four shifts listed in the table. part-time consultants are paid $12 per hour. an additional requirement is that during every time period, there must be at least two full-time consultants on duty for every part-time consultant on duty. larry would like to determine how many full-time and part-time consultants should work each shift to meet the above requirements at the minimum possible cost. formulate this as an lp problem. you must define your variables clearly

Acompany that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the labor content of the jobs needed to produce the shopping carts. prior to buying the new equipment, the company used 6 workers, who produced an average of 79 carts per hour. workers receive $16 per hour, and machine coast was $49 per hour. with the new equipment, it was possible to transfer one of the workers to another department, and equipment cost increased by $11 per hour while output increased by four carts per hour. a) compute the multifactor productivity (mfp) (labor plus equipment) under the prior to buying the new equipment. the mfp (carts/$) = (round to 4 decimal places). b) compute the productivity changes between the prior to and after buying the new equipment. the productivity growth = % (round to 2 decimal places)

The card shoppe needs to maintain 21 percent of its sales in net working capital. currently, the store is considering a four-year project that will increase sales from its current level of $349,000 to $408,000 the first year and to $414,000 a year for the following three years of the project. what amount should be included in the project analysis for net working capital in year 4 of the project?