You are driving a van packed with camping gear (total weight 3,500 pounds including yourself and family) into a northern wilderness area. You take a "short cut" that turns into a one-lane road, with no room to turn around. After 11 miles you come to a narrow bridge with a faded sign saying, "Safe Up to 2 Tons." About a half-mile ahead, you can see that your road rejoins the main highway. You consider the sign's hypothesis carefully before making a decision. The cost of Type I error is

Corrective action must be taken for a project when (a) actual progress to the planned progress shows the progress is ahead of schedule. (b) the technical specifications have been met. (c) the actual cost of the activities is less than the funds received for the work completed. (d) the actual progress is less than the planned progress.

Describe what fixed costs and marginal costs mean to a company.

Suppose life expectancy in years (l) is a function of two inputs, health expenditures (h) and nutrition expenditures (n) in hundreds of dollars per year. the production function is upper l equals ch superscript 0.40 baseline upper n superscript 0.60l=ch0.40n0.60. beginning with c = 1, a health input of $400400 per year (hequals=44) and a nutrition input of $400400 per year (nequals=44), show that the marginal product of health expenditures and the marginal product of nutrition expenditures are both decreasing. the marginal product of health expenditures when h goes from 44 to 55 is nothing, and the marginal product of health when h goes from 66 to 77 is nothing. (round your answers to three decimal places.)