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Enzyme-linked immunosorbent assay (ELISA) is the most common type of screening test for detecting the HIV virus. A positive result from and ELISA has a high degree of sensitivity (to detect infection) and specificity (to detect non-infection). Suppose the probability that a person is infected with the HIV virus for a certain population is 0.015. If the HIV virus is actually present, the probability that the ELISA test will give a positive result is 0.995. If the HIV virus is not actually present the probability of a positive result from and ELISA is 0.01. If the ELISA has given a positive result, use Bayes' theorem to find the probability that the HIV virus is actually present.
An economy is currently made up of a firm that produces bread, a firm that produces butter, and a consumer who consumes both bread and butter. Current production is 100 units of bread, 50 units of butter which the consumed by the consumer.
Allocating a square block in the heart of New York City for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot?
You are starting your own Internet business. You decide to form a company that will sell cookbooks online. Justcookbooks.com is scheduled to launch 6 months from today. You estimate that the annual cost of this business will be as follows.
after graduating from college you receive job offers from five different accounting firms. all job offers have a
It is assumed that the toothpast market is perfecty competitive and the current price of a case of toothpaste is $42.00. With an estimated marginal cost function to bas follows: MC=.006Q How would you begin to work a problem of this sort?
What is the difference between a change in demand versus a change in quantity demanded? A change in supply versus a change in quantity supplied? Why is it so important to differentiate between these similar-sounding terms?
Calculate consumer surplus in the case of entry deterrence and in the case of entry accommodation. Which situation leads to the largest consumer surplus?
Suppose the real money supply increase to $2,780. Given your answers to part a, find the new combinations to graph the new LM curve, given that the real money supply now equals $2,780. Label this curve LM1.
what is the basis of the kinked-demand model? explain the reason for the gap in the oligopolists marginal-revenue
around the world commodities are bought and sold on exchanges markets organized in a specific location where buyers and
a local hardware store is trying to decide whether to stay open. they have found that their industry is extremely
Mr. Sea Food is considering a price reduction on the lobster soup, which currently sells for the price of $5.00. Mr. Smith, the proprietor, knows the price elasticity for this soup is roughly equal to 2.3 over the range being considered for the pr..
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