Show work and explain your analysis. PROBLEM 1. Applacian Coal Mining believes that it can increase labor productivity and, therfore, net revenue by reducing air pollution in its mines. It estimates that the marginal cost function of reducing pollution by installing additional capital equipment is MC=40P where P represents a reduction of one unit of pollution in the mines. It also feels that for every unit of pollution reduction the marginal increase in revenue (MR) is MR =1,000 -10P How much pollution reduction should Appalachian Coal Mining Undertake? Problem 2. Twenty first Centry Electronic has discovered a theft problem at its ware house and has decided th hire security guards. The following table shows how the number of security guards affects the number of radio stolen per week. of security guards of radios stolen per week 0 50 1 30 2 20 3 14 4 8 5 6 a. if each security guard is paid $200 a week and the cost of a stolen radio is $ 25, how many security guards should the firm hire? b. if the cost of a stolen radio is $25, what is the most the firm would be willing to pay to hire the first security guard? c. if each security guard is paid $200 a week and the cost of a stolen radio is $50, how many security guards should the firm hire?
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