If bribes cost $1,000 each, how much will a housing inspector make each year in bribes? (Assume that each inspector works 52 weeks a year and gets bribed for every house he inspects.)
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- If bribes cost $1,000 each, how much will a housing inspector make each year in bribes? (Assume that each inspector works 52 weeks a year and gets bribed for every house he inspects.)
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- If bribes cost $1,000 each, Suppose that 20 inspectors work for a corrupt supervisor and that each passes along half the bribes collected from builders. How much will the construction supervisor collect each year?insert a formula that calculates the percentage Raymond paid of the issue price by dividing the amount Paid by the Issue Price.If there is no money, what is the number of barter prices we need if there are 1,000 goods? Add your answer Integer, decimal, or F notation allowed
- You are in the market for a used 2006 Honda Accord. You know that half of the 2006 Accords are lemons and half are peaches. If you could be assured that the Accord you were buying were a peach, you would be willing to pay up to $10,000. On the other hand, you would only be willing to pay $2,000 for a lemon. You have no ability to discern whether any particular Accord is a lemon or a peach. Sellers of Accords, on the other hand, are likely to know whether their particular car is a lemon or a peach. Suppose sellers of lemons will sell their cars for $1,500 or more and peach sellers will be willing to sell their cars for $8,500 or more. Over time the price in the market for 2006 Accords will and will be traded. O A. be between $8,500 and $10,000; only peaches O B. be between $1,500 and $2,000 for lemons; only lemons OC. be between $8,500 and $10,000 for peaches and between $1,500 and $2,000 for lemons; both lemons and peaches O D. be between $1,500 and $10,000; both lemons and peachesJust this question. Thank you 5Twenty passengers were found ticketless on a bus. The sum of squares and the S.D. of the amount found in their pockets were dollar 2,000.00 and dollar 6.00 respectively. If the total fine imposed on these passengers is equal to the total amount recovered from them and fine imposed is uniform, what is the amount each one of them has to pay as fine? What difficulties do you visualise if such a system of penalty were imposed?
- Johnson & Johnson’s 1982 Tylenol recall was huge in both scope and cost. Adjusted for inflation, the recall cost roughly $250 million. But, as the seminal event in the history of recalls, arguably none other has had a bigger impact. Known as “the recall that started them all,” J&J set the standard for the way corporations are supposed to handle such events. In a case of product tampering, seven people in the Chicago area died after ingesting Extra-Strength Tylenol laced with cyanide. J&J spent more than $100 million to recall 31 million bottles of its best-selling product. J&J’s swift and decisive action is credited with saving the Tylenol brand, which at the time accounted for 17% of the company’s profits. Although the stock priced swooned initially, it recovered within two months b) List five cases of product recall and their reasons, explaining their impact on the brand and profitability of the company.Show transcribed image text Honda Motor Company is considering offering a $2,000 rebate on its minivan, lowering the vehicle's price from $30,100 to $28,100. The marketing group estimates that this rebate will increase sales over the next year from 42,000 to 54,400 vehicles. Suppose Honda's profit margin with the rebate is $5,260 per vehicle. If the change in sales is the only consequence of this decision, what are its costs and benefits? Is it a good idea? Hint: View this question in terms of incremental profits. The cost of the rebate will be $ ____ million. (Round to one decimal place.) The benefit of the rebate will be $ _____ million. (Round to one decimal place.) Is it a good idea? does or does not Offering the rebate ____ look attractive.You bought a ticket for a concert of Taylor Swift in Manchester for £400. If you want, you can return the ticket for a full refund up to the start of the concert. You were willing to pay up to £600 for that ticket. The train ticket from your home to Manchester and return costs £150. There are no other costs of going to the concert. You realise now that the concert is sold out. After checking various websites, you receive a firm offer for your concert ticket of £2100. If you do not go to the concert, your next best alternative for that day is watching a pay-per-view video of an Amy McDonalds concert on Netflix for £50 at home. Your willingness to pay for the pay-per-view video is £300 (Your willingness to pay for the concert ticket does not change over time.) Which decision is the optimal decision in economic terms? What is the opportunity cost of going to the concert in Manchester? What is the opportunity cost of staying home? Calculate the net cost (or net benefit) if you decide to…
- Suppose that you are an otherwise law-abiding college professor earning $80,000 a year. Suppose further that you are confronted with the opportunity to steal a painting worth an estimated $350,000 on the black market. You know full well that if you get caught and convicted, you could face a prison sentence of 10 years plus a fine of $5,000. The estimated arrest rate in your state for such crimes is 25% while the conviction rate is around 80%. (a) Calculate your expected MB and MC. Assuming that you are a rational thief, would you steal the painting? (b) All Else Equal, what would the jail sentence have to be to make you indifferent between stealing the painting and not? (c) All Else Equal, what would the fine have to be to make you indifferent between stealing and not stealing? (d) All Else Equal, what would the joint probability of arrest and conviction [probability of arrest x probability of conviction] be to make you indifferent?What are concerns that some people have with the use of consumer decision nudges by governments?What if reducing the number of inspectors from 20 to 10 only increased the equilibrium bribe from $1,000 to $1,500? In this case, how much per year would the construction supervisor collect from his 10 inspectors? How much less is the construction supervisor getting than when he had 20 inspectors working in part b? In this case, will the construction supervisor be happy with the reduction in government services? Will he want to go back to using 20 inspectors?