Two firms, LexCorp and Wayne Enterprises, have access to five production processes, each one of which has a different cost and gives off a different amount of pollution. The daily costs of the processes and the corresponding number of tons of smoke emitted are as shown in the following table: Process (smoke) A (4 tons/day) B (3 tons/day) C (2 tons/day) D (1 ton/day) E (0 tons/day) LexCorp ($/day) 80 130 200 310 500 Wayne Enterprises ($/day) 150 190 240 300 370 a. If pollution is unregulated, which production process will each firm choose, and what will be the total daily smoke emission? The firms will choose . The total daily smoke emission would be per day. b. The City Council wants to reduce total emissions down to 2 tons of smoke per day. To accomplish this, it requires each firm to reduce its emissions to 1 ton of smoke per day. What will be the total cost to society of this policy? Total cost to society will be $ . c. The City Council again wants to reduce total emissions down to 2 tons of smoke per day. This time the City Council sets a tax of $T per day on each ton of smoke emitted. How large will T have to be to reduce total emissions down to 2 tons of smoke per day? Specifically, what is the smallest whole dollar tax on each ton of smoke emitted that will guarantee that total emissions fall to 2 tons per day? Under this tax, what production process will each firm choose? If the revenue collected from taxing emissions is used to offset other taxes, then what will be the total cost to society of this policy? T would have to be $ . Under this tax, LexCorp will choose and Wayne Enterprises will choose . The total cost to society would be $ . d. Comparing the policy in part b and part c, which imposes the smallest total cost on society? Explain. The policy in part b because it concentrates pollution reduction at the firm whose marginal cost of reducing pollution is the lowest. The policy in part c because it concentrates pollution reduction at the firm whose total cost of reducing pollution is the lowest. The policy in part c because it concentrates pollution reduction at the firm whose marginal cost of reducing pollution is the lowest. The policy in part b because it concentrates pollution reduction at the firm whose total cost of reducing pollution is the lowest.

Andalus Furniture Company has two manufacturing plants, one at Aynor and another at Spartanburg. The cost in dollars of producing a kitchen chair at each of the two plants is given here.

Aynor: Cost = 66Q1 + 6Q1² + 105
Spartanburg: Cost = 20Q2 + 2.5Q2² + 156

Andalus needs to manufacture a total of 50 kitchen chairs to meet an order just received. How many chairs should be made at Aynor and how many should be made at Spartanburg in order to minimize total production cost? When required, round your answers to the nearest dollar.

The optimal solution is to produce chairs at Aynor for a cost of $   and chairs at Spartanburg for a cost of $  . The total cost is $  .

Please use Phyton to write a program:

Write a program that calculates and displays the total bill at a restaurant for a couple that is dining. The program should collect from the couple, cost of each meal, and the percentage of the final cost that they would like to tip. The sales tax in the state where the restaurant exists is 7.5%.

Display to the user, line by line:

• Total Cost of Both Meals
• Sales Tax in dollars
• Tip in dollars
• Total Amount of Bill

Solomon Construction Company expects to build three new homes during a specific accounting period. The estimated direct materials and labor costs are as follows:

Assume Solomon needs to allocate two major overhead costs ($70,600 of employee fringe benefits and $29,540 of indirect materials costs) among the three jobs.

Required

Choose an appropriate cost driver for each of the overhead costs and determine the total cost of each house. (Round "Allocation rate" to 2 decimal places.)

1) Roberto​ Inc. operates a chain of luxury hotels in the​ Asia-Pacific region. It charges​ $540 for a one night stay. However when​ 90% of the rooms are​ occupied, Roberto charges a premium of​ 20% on room tariff for the remaining rooms. What pricing method has Roberto Inc. ​adopted? Explain your answer.

2) Due to a recent downturn in the economy, sales of luxury hotel rooms have been on a steady decline for the last 12 months. A market research study conducted revealed that Roberto Inc. can only sell one night stays for $440. Accordingly, Roberto Inc. has decided to revise its sales price per one night stay to $440. The annual target volume after the price revision is 240 one night stays. Roberto Inc. wants to earn 40% on its sales amount. Calculate the target cost per unit. Show your workings.

3) Roberto Inc.’s revised target price of $440 was based on market research. Explain other methods that could be used when estimating a target price.

1. To economists, which of the following is true of pollution?

A. It is an externality.

B. It is always produced by third parties.

C. It is never caused by the consumers of the good, only by the producers.

D. It is never caused by the producers of the good, only by the consumers.

2.The free-rider problem is most likely to occur in which of the following cases?

A. A lighthouse

B. Buying apples at a farmers’ market

C. Visits to a local theme park

D. Visits to the emergency room

3. The term exclusion refers to which of the following?

A. The likelihood that the government may exclude the private sector from the production of certain goods

B. The possibility that you may receive benefits without having paid for them

C. The condition where you can’t consume a good if you don’t pay for it

D. The condition where your consumption of a good removes that good from someone else

4. Which of the following is a basic difference between public goods and private goods?

A. A private good is an internal good.

B. A public good must have no cost.

C. Public goods have the property of exclusion.

D. Private goods have the property of exclusion.

2. The new mayor of a Midwestern city has developed a list of administration goals and objectives for the city: (a) establish effective government by incorporating improved information systems and management practices; (b) improve intergovernmental cooperation for more cost-effective service delivery; (c) build public support for administration priorities through two-way communication; (d) make timely investments in roads, utilities, sewers, parks, and alternative transportation systems to encourage responsible growth and sustain a healthy economy; (e) maintain and improve the city as a place where people can live and work without fear; (f) protect the community’s natural assets and enhance environmental quality; (g) work to improve the economic health of the city in an equitable manner for all citizens; (h) support and facilitate access to basic social services for all citizens; (i) establish a customer-driven city workplace; and (j) maintain and improve park services and facilities. Use this statement to structure both a program budget format and a new performance budget format for the city. For the latter, identify measurable performance indicators.

Mikesell, John. Fiscal Administration (Page 306). Wadsworth Publishing. Kindle Edition.

A researcher wished to compare the average daily hotel room rates between San Francisco and Los Angeles. The researcher obtained an SRS of 15 hotels in downtown San Francisco and found the sample mean ? ̅1=$156, with a standard deviation ?_1= $15. The researcher also obtained an independent SRS of 10 hotels in downtown Los Angeles and found the sample mean ? ̅_2= $143, with a standard deviation ?_2= $10. Let 1 and 2 represent the mean cost of the populations of all hotels in these cities, respectively. Assume the two-sample t procedures are safe to use, i.e. Unequal Variances. a)Suppose the researcher had wished to test the hypotheses H0: µ1 = µ2 vs. Ha: µ1 ≠ µ2 at the 5% significance level (i.e., α = 0.05). The numerical value of the two-sample t statistic is? b)What is your P-value? c)What are your statistical conclusion and its interpretation? Use significance level, α = 0.05 (or 5%

. d)Based on your P-value and conclusion in (b) and (c), will you conclude that a 99% confidence interval for µ1 - µ2 includes the value 0? Explain.