Suppose that the waiting time for a license plate renewal at a local office of a state motor vehicle department has been found to be normally distributed with a mean of 30 minutes and a standard deviation of 8 minutes. suppose that in an effort to provide better service to the public, the director of the local office is permitted to provide discounts to those individuals whose waiting time exceeds a predetermined time. the director decides that 15% of the customers should receive this discount. what are the numbers of minutes they need to wait to receive the discount?

Consider the labor market for computer programmers. during the late 1990s, the value of the marginal product of all computer programmers increased dramatically. holding all else equal, what effect did this process have on the labor market for computer programmers? the equilibrium wagea. increased, and the equilibrium quantity of labor decreased. b. decreased, and the equilibrium quantity of labor increased. c. increased, and the equilibrium quantity of labor increased. d. decreased, and the equilibrium quantity of labor decreased.

Suppose that a candy maker owns a building and is renting part of the building's space to a doctor. further suppose that because the candy maker is the owner, he has the right to make noise during the day while he makes candy. while the doctor cannot insist on a quiet environment, the doctor could move to a quieter building. however, rent in the next best building is $350/month more than rent in the noisy building. the candy maker can adopt a new technology that eliminates the noise for $275/month. given this situation, can the doctor find a private solution with the candy maker that will make both better off?

The amount that people are willing to pay for each additionally unit of a product or service is the