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A survey of a random sample of 1000 smartphone owners found that the mean daily time spent communicating on a smartphone was 131.4 minutes. From previous studies, it is assumed that the population standard deviation is 21.2 minutes. Communicating on a smartphone includes text, email, social media, and phone calls.
Can anyone find the 99% confidence interval for this? Be sure to include your inputs!
Use the AD/AS model to explain and show the current economic situation. Then suggest a fiscal approach to solve the current economic situation without adding any more debt. The current MPC = .80.
Often, there is news and critics that cast stones at the economic policies of Congress and/or the President. However, I find that average critics don't offer up an alternative solution, but simply criticize. Pretent that you are in charge for a day o..
the student has decided to save money in equal monthly amounts for 48 months and then pay cash. If the student earns 0.75% per month interest on the money she saves, how much money is the monthly savings?
Explain and discuss the 3 possible exchange rate policies (Flexible exchange rate, Fixed exchange rate and Crawling peg) that can be adopted by any government/c
"No firm is completely sheltered from rivals; all firms compete for the consumer dollars. If that is so, then pure monopoly does not exist." Do you agree? Explain. How might you use Chapter 6's concept of cross elasticity of demand to judge whether m..
Bill receives utility form consumption of two goods X and Y. If price of X is $6 and Price of Y is $2, Bill’s budget is $14 and the marginal utility of X is MUx = 3X^2Y^4, what is the optimal amount of X and Y. Solve using the Lagrange multipliers me..
Summarize the economical implications of rising health care costs. Provide an industry example to illustrate your explanation.
Cost Minimization for Cobb-Douglas. Suppose the Acme Gumball Company has the production function of q=LK. Given that the MPL=K, MPK=L and MRT S=MPL/MPK. Suppose wage rate is w= $5 and rental rate is r= $5. What is the cost-minimizing combination of L..
The local supermarket buys lettuce each day to ensure really fresh produce. Each morning any lettuce that is left from the previous day is sold to a dealer that resells it to farmers who use it to feed their animals. This week the supermarket can buy..
a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the company.
What happens to the stock of money if the Fed lowers reserve requirements by changing the reserve ratio to 10 percent?
Analyze how prescription drugs affect the demand and supply of other products and services in this country.
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