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a) Calculate the mean of the following 5 numbers: 3, 7, 8, 12, 15
b) Write down any set of numbers. Calculate thier mean, and then the average deviation from the mean.
c) Prove that, for every possible sample of n observations, the average deviation from the mean is exactly zero. Is this also true for deviations from the median?
A major breakthrough that allows for on-site generation of electricity for an investment in the generating capacity but after that essentially a zero variable cost of electricity.
From what you know about these firms' cost structures, what is the highest possible price per unit that could exist as the market price in long-run equilibrium?
Marginal benefit and marginal cost functions and explicit costs of using market-supplied resources entail an opportunity cost equal to the dollar cost of obtaining the resources in the market.
What is the Marginal Rate of Technical Substitution between labor and capital and what is the least cost method of producing the target level of output
Based on the Solow model, how would each of the following affect consumption per employee in the long run? Describe and illustrate your answer graphically.
What price would Soft Rock have to charge to sell 2,000 T shirts? Compute the own price elasticity of demand when the price goes from $5 to $4.
Show this utility maximiz- ing combination combination of Pepsi and Coke on the graph. how would her consumption and utility maximizing bundle of Coke and Pepsi change if the price of Coke decreases to 50 cents?
The government is considering undertaking one of the four projects A1, A2, A3, A4. These projects are mutually exclusive, and the estimated present values of their costs and of their benefits are shown in millions of dollars as follows.
Over the business cycle, real GDP tends to increase during the expansion and decrease during the contraction. Can you name some other macro variables that fluctuate over the business cycle like GDP does?
Your consulting company has been hired by an airline to analyze data on passenger and luggage weights. The data refer to a 200 seat aircraft that is always full. You are given data that show that as a good approximation passenger weights W ~ N (15..
Neoclassical economics was 'a crucial stage in the creation of a genuinely scientific unified theory of economic behaviour'. Discuss.
According to the computer industry what are positive and negative effects of either a sudden increase or decrease in the number of competitors on prices in long run.
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