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Suppose that a study conducted by the Department of Homeland Security discovered that the average time it took passengers to go through the customs process for international flights arriving at the Atlanta airport was 33 minutes. Assuming that the wait times are distributed according to a Poisson distribution, please answer the following;
a. What is the probability that a passenger gets through customs in more than 45 minutes?
b. What is the probability that a passenger gets through customs in less than 20 minutes?
If you receive a free ticket to a concert, what, if anything, is youropportunity cost of attending the concert How does youropportunity cost change if miserable weather on the night of theconcert requires you to leave much earlier for the concert ..
the cost of pollution in billions of dollars originating in the paper industry is cp2p p2where p is the quantity of
you go to the movies one evening instead of doing your economics assignment and practice test. you get 70 percent on
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Under the assumptions of perfect competition:
1. Compare and contrast pure competition with monopoly from a pricing perspective. If you were a shipper, which would you prefer? Which would a carrier prefer?
A consumer has a utility function of U(x,y)=xy+6x+6y. The price of good X is Px, customer income is I, hence constraint is x(Px)+y(Py)=I
Discuss and explain supply and demand as well as elasticity concepts of Walmart. Incorporate these ideas to validate how the corporation establishes its pricing strategy.
given an mpc of .8 if the equilibrium level of aggregate expenditure is 80 billion and there is a reduction in
Plot the supply and demand curves on a plot with "Quantity of houses" on the horizontal axis, and "Price of houses" on the vertical axis.
rick buys a 1966 mustang for 3000 planning to restore and sell the car. he goes on to spend 9000 restoring the car. at
Eve bought defective ball bearings from Saginaw Corp. Alfred was the sole shareholder of the company and also its landlord. After Alfred sold all Saginaw's assets, he withheld enough money to cover the rent that Saginaw owed him. As a result Sagin..
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