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Suppose that buses arrive at a bus stop every 15 minutes and the waiting time for the next bus to arrive has a uniform probability distribution on the interval from 0 to 15 minutes
a) Find the probability that x, a person’s waiting time will exceed 10 minutes
How does the standard economic view of rationality relate to the concept of bounded rationality Which seems more realistic What does your answer imply about economic models
Explain: “Politicians would make more rational economic decisions if they weren"t running for reelection every few years.” Do you favor term limits for elected officials?
1 a bank can lend out its excess reserves but not its required reserves.a trueb false2 a bank creates money when ita
Using indifference curves and budget constraints, show how a government program that increases education and job training for low-skilled women can increase low-skilled female labor force participation over time. Assume everything else about women..
Describe: 1) the process a firm should use in determining whether a particular production method should/should not be used AND 2) a factor or circumstance that could change the choice of production methods.
Whats her expected utility of having a car without insurance and what would be the price of a "Fair" full insurance plan? Would Chen buy full insurance for her car at this price
Which of the following is a main element typically included in a "to make" cost analysis?
can the united states continue to run current account deficits indefinitely? since in the long term the obvious answer
Presume there are two consumers, A and B. The utility functions of each consumer are given by: UA(X,Y) = X*Y UB(X,Y) = 2X + Y The initial endowments are: A: X = 4; Y = 2 B: X = 6; Y = 8. Is the initial allocation Pareto Efficient? What is the margina..
The average 15-year old purchases 12 CDs and 15 cheese pizzas in the typical year. If cheese pizzas are inferior goods, would the average 15-year old be indifferent between receiving the $30 gift certificate at local music store and $30 in cash?
there are 2 brands of cell phones that are almost identical except for some minor features the a-phone and the
First write down the assumptions and state the utility maximization problem for a single-member household that is agriculturally productive but has no access to labor markets.
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