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A basketball player who makes 75% of his free throws comes to the line to shoot a one on one. That is, if the first shot is successful, the player is given a second shot; if not, he gets no second shot. One point is scored for each successful shot. Assume the outcome of the second shot if there is one, is independent of that of the first
a) find out the expected number of points resulting from the one on one
b) compare this with the expected number of points from a two shot foul, where the second shot i always given
Bavarian Crystal Works designs and produces lead crystal wine decanters for export to international markets. The production manager of Bavarian Crystal Works estimates total a
the mainstream theory of the business cycle, is the most common source of reciession: a decrease in aggregate demand, a decrease in aggregate supply, or both.
The Green City Hospital treated 100 patients in May with 20 nursing hour inputs, and it treated 120 patients in June with 22 nursing hour inputs. What is the total product for
what is the size of the bank's actual reserves. Required reserves are 10 percent of transactions deposits under the assumptions of the simple multiplier formula, then eventu
Consider the decision of a household to have additional children. As a result of the substitution effect(s) of a wage increase, economic theory predicts that: In the household
Imagine you have some workers and some handheld computers that you can use to take inventory at a warehouse. There are diminishing returns to taking inventory. If one worker u
Draw the complete Malthusian model, identify equilibrium, and label completely and correctly. Suppose that the government initiates a pro-population growth policy. Draw the im
Provide a graphical example of what could potentially happen to the number of people employed in an economy if the government were to decide to raise the minimum wage. Provide
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