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In the final round of a TV game show, contestants have a chance to increase their current winnings of $1 million to $2 million. If they are wrong, their prize is decreased to $500,000. A contestant thinks his guess will be right 50% of the time. Should he play? What is the lowest probability of a correct guess that would make playing profitable?
Labor turnover during periods of economic expansion is largely the result of: Full income. If leisure is a normal good, an increase in nonlabor income will cause the quantity of labor supplied to:
The ABC Bank of Bermuda has outstanding checkable deposits of $300,000 also a reserve ratio of 10%. If it has excess reserves of $15,000, illustrate what is the size of the bank's actual reserves.
A firm employs 8 units of the variable resource. at this level of employment, average product is 2, and average variable cost is $4. Explain how much output is the frim producing.
With marketers, increasingly adopting more and more refined market segmentation schemes fueled by the Internet and other customization efforts—some critics claim that mass marketing is dead. Others counter that there will always be room for large bra..
A profitable company making earthmoving equipment is considering an investment of $150,000 on equipment that will have a 5 year useful life and a $50,000 salvage value. Use a spreadsheet function to compute the MACRS depreciation schedule.
q.suppose that there is a unit mass of consumers who are uniformly distributed on the segment01. two firms are located
The elasticity of demand:
Which of the following facts is NOT true? Business cycles are unpredictable. As output falls, inflation increases. Business cycles come at irregular intervals. As output increases, cyclical unemployment decreases
Rising oil prices cause airlines to adjust flight schedules. Show the effect on airline prices and quantity demanded. Show the shift of supply and/or demand curves and explain why the curve(s) shifted.
Your buddy Gabe owns a sports restaurant/bar in St. Louis. On a recent visit, Gabe shared the following information on his annual revenue and costs: Assume that Gabe has a standing offer of $70,000 to manage another bar in St. Louis. Calculate Gabe’s..
I don’t know why he uses ‘literally’ when he means ‘figuratively.’ He did not actually die of hunger. I really liked the short story “How to Tell a True War story.” Listerine was originally intended as “a refreshing additive to cigarettes, a cure for..
Assess the impact of information availability on market efficiency in today’s economy, indicating whether it has a positive or negative impact on most companies. Provide support for your rationale.
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