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1. Best Buy offers a protection plan for new smartphones at $132. The absolutely most expensive iPhone you can buy right now is $700. Assume for a moment you are a very cautious but forgetful person: you would never, ever drop or damage your phone, but you might lose it. How likely must you be to lose your phone for $132 to be an actuarially fair price for mobile phone insurance? [Hint: you're solving for p, the probability of losing your phone. Not losing your phone, therefore, happens 1-p percent of the time.]
2. If your demand for some good x is X=0.3 I/Px
a) is X a normal or inferior good? Show me how you know.
b) is good Y a substitute or complement for good X? Again, show me how you know.
A firm has the following relationship between the number of employees it has (E) and its daily output: Employees (E) output APE MPL VMPE 0 0 1 50 2 60 3 68 4 74 5 78 6 80 In the table above, calculate and enter the average products of labor (APE).
Consider how each of the following events is likely to affect real GDP. Do you think the change in real GDP reflects a similar change in economic well-being?
Suppose that as the result of the crisis in Greece, the Euro depreciates against the US dollar. Why should you care when the US dollar strengthens relative to other currencies? Describe the ways this could impact your life and that of your friends an..
Can you recognize from the graph the period for which Canada was on affixed x-rate regime with the US dollar and the UK pound? What was this period.
Lubbock County is planning to construct a bridge across the Rio de Lubbock to facilitate afternoon skiing in the El Dusto Ski Basin. The first cost for the bridge will be $6,500,000. Annual maintenance and repairs will cost $25,000 for each of the fi..
By how much did the disposable income of rich people decrease as a result of the 2012 hike in the top marginal tax rate from 35 to 39.6 percent? Assume they have $2 trillion of gross income in the highest bracket.
Liquidated Damages. B-Sharp Musical Productions, inc., contracted with James Haber to provide a sixteen-piece band at Harber's son bar mitzvah for $30,000. Is the provision for the payment of the entire price enforceable?
q1. if argentina wanted to pay off their u.s. dollar debt after the peso devalued how many argentine pesos would it
Is it appropriate and ethical for employers to look into social networking sites of employees when they are not working? Argue that it is not appropriate and ethical..
Prepare a CPM/PERT chart and determine project duration based on normal project duration (using Normal Time) Prepare a CPM/PERT chart and determine the shortest time this project can be completed taking (using Crash Time).
Consider a large country importing good X in the international market. The country is large enough to influence the international price for good X. Let the initial international price of good X be $100, where the country imports 100 units and produce..
The most you would be willing to pay for having a freshly washed car before going out on a date is $15. The smallest amount for which you would be willing to wash someone else’s car is $12.50. You are going out this evening and your car is dirty. How..
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