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A) In a casino game craps, you can bet the next roll of the two dice with result in a total of 2. The probability of rolling 2 is 1/36. Find the odds against rolling 2.
B) If you bet $5 that the next roll of the dice will be 2, you will collect $155 (including your $5 bet) if you win. First identify the net profit, then find the payoff odds.
On a separate diagram, draw a series of isocost curves showing how falling prices of computers changed firms options.
Payments under some retirement plans are based on the average earnings in the last few years of employment. Discuss the potential incentive effects of this policy.
Do you agree that the firm is necessarily wasting company profits? Explain using concepts from class. In answering this question assume that employees would be more productive if they stayed at the client's office.
Using the relationship between the price of a visit to a physiotherapist and the quantity of visits demanded, define and distinguish among the direction, the slope, and the position of an economic relationship.
Carefully describe what will happen as we move from short run to a long run equilibrium in a monopolistically competitive industry if companies are making a positive profit in the short run.
1.Explain how equilibrium would be restored in the circular flow of income if there were a fall in investment.
You are the manager of a firm that competes against four other firms by bidding for government contracts. While you believe your products is better than the competition, the government purchasing agent views the products
1.Choose two industries that you believe are very different. Identify factors used in those industries that in the short run are (a) fixed; (b) variable.
For 2012, Bayside Corporation sold 130,000 units of its product for $35 each. The variable cost per unit was $30, and Bayside's margin of safety was 30,000 units. What was the amount of Bayside's total fixed costs?
Illustrate her utility-maximizing combination of shoes and books and draw her price-consumption curve if the price of books rises to $30.
Ccompute the beta of the firm if the risk-free rate is 4%, and the market rate of return is 14 percent.
Explain how the long-run might differ from the short run. In you answer, assume that they also compete with Cisco, IBM, and Google - what is the profit- maximizing price per beverage?
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