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A small building contractor has recently experienced two successive years in which work opportunities exceed the firm capacity. The contractor must now make a decision on capacity for next year. Estimated profits under each of the two possible states of nature are as shown in the table below. Which alternative […]

Plastic strips that are used in a sensitive electronic device are manufactured to a maximum specification of 305.70mm and a minimum specification of 304.55mm. If the strips are less that the minimum specification they are scrapped if greater than the maximum specification they are reworked. The part dimensions are normally […]

In today’s correctional environment, it is very important to establish a method of correctional treatment. In this assignment, you will address the following scenario: As a correctional administrator, you are in charge of a boot camp filled with males who were sentenced there as a last resort. The offenders have […]

Length 3,000 words Please note that this question requires substantial research (see the assessment criteria below). (a) Explain perfectly competitive and monopolistically competitive market structures, and identify the key factors that distinguish them. (b) Choose two different Australian industries that represent monopoly and monopolistic competition. What characteristics characteristics of these […]