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A manufacturer claimed that at least 20% of the public preferred her product. A sample of 100 persons is taken to check her claim. With α = .05, how small would the sample percentage need to be before the claim could legitimately be refuted? (Notice that this would involve a one-tailed test of the hypothesis.)
Explain the rationale behind equal prices for unequal distances in air travel using supply, demand, and cost curves.
write a three to four 3-4 page paper in which you1.discuss the current economic situation in the u.s. as compared to
Determine the impact of the increase in the price of soybeans on the rental rate of land and determine the impact of the increase in the price of soybeans on the welfare (real wage) of labor.
Are there any products for which there are no substitutes? Are these the only products for which it would be possible to have a monopoly? Briefly explain.
phillips industries manufactures a certain product that can be sold directly to retail outlets or to the superior
The benefits of free trade are something that most economists are willing to recognize. And yet the question of optimal trade policy can be actually quite complicated. How do the readings in this group reveal this complexity.
the United States has been subject to increases in the illegal immigration of workers from Mexico, most of them unskilled, and the government has considered ways to reduce the flow. One policy is to impose larger financial penalties on employers wh..
A doubling of both nominal GDP and prices for all goods and services in the economy implies that:
You purchased a new molding machine for $155,000 by trading in a similar machine that had a book value of $18,000. Assuming that the trade in allowance was $20,000 and that $85,000 cash was paid for the new asset, what is the cost basis of the ne..
How would you feel as the decision maker with a selling team attempt to gain business versus an individual effort.
It has now become common for firms situating assembly plants to make states compete for their industry; states and local governments often race to offer most generous tax profits.
Key concepts to include in your paper--Monopoly Market Structure, Characteristics of Pure Monopoly, Barriers to Entry into the market, Natural Monopoly, Government Monopoly, Downward Sloping Demand Curve, Economies of Scale, Monopoly Pricing, Pric..
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