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A fast food chain store conducted a taste survey before marketing a new hamburger. The results of the survey showed that 70% of the people who tried this hamburger liked it. Encouraged by this result, the company decided to market the new hamburger. Assume that 70% of all people like this hamburger. On a certain day, 100 customers bought this hamburger.
Find the probability that exactly 64 of the 100 customers will like this hamburger
The cost of building a new high speed railway system is reported to be high at 25 billion. Does it necessarily follow that the high speed railway is not worth building?
Joe subscribes to an Internet provider that charges $2 per hour. He has $100 per month to spend and is at equilibrium by buying 10 hours of Internet access and $80 worth of other goods. Draw the indifference curve and budget line. If the company swit..
How can we use the price elasticity of demand to predict the effect of taxes? How does a minimum price (floor price) affect the market? Explain the equimarginal principle. How do indivisible inputs affect production costs?
Gigantic Life Insurance has terminated a sales account manager who is traveling on the road with a company-issued mobile device.
q.the following equations describe a small open economy. figures except the parameters are in millions of dollars. c
Elucidate how that a profit-maximizing bundle will typically not exist for a technology that exhibits increasing returns to scale
q. in late 2001 and once again in the current economic situation economic policy was aimed at lowering short term
Compare the profitability of the two options if (a) X = 50,000, (b) X = 30,000, or (c) X = 40,000.
Why should we worry about a long run deterioration in the commodity terms of trade of the LDCs and how can such a deteriorationbe related.
Economic growth has slowed in the last quarter of the year to 0.6% from the previous third quarter growth rate of 4.9%. The economy lost 12,000 jobs in the last month of the previous year while shedding 80,000 jobs during the months of January and Fe..
Juanita is a college student who lives in Miami and provides math tutoring for extra cash. At a wage of $40 per hour, she is willing to tutor 7 hours per week. At $50 per hour, she is willing to tutor 10 hours per week. Using the midpoint method, the..
Outsourcing refers to the process in which:? a. ? workers of a particular country seek employment in a firm of a foreign country. b. a firm hires laborers from a foreign market. c. a firm purchases service from another firm in another country. d. ?th..
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