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Each statement in either true (in all cases) or false (for at least one example) If false, construct a specific example to show that the statement is not always true. Such an example is called a counterexample to the statement. If a statement is true, give a justification.
If v1,,,,,,,v4 are in R4 and v3 = 2v1 + v2, then {v1, v2, v3, v4} is linearly dependent.
A retailer has offered you two options to purchase kitchen and laundry appliances: A. $3598.88 cash today; or B. a down payment of $912.50 plus three additional identical payments 80 days, 160 days, and 320 days from today.
(a) Find the price and quantity that maximizes the company's profit. (b) Find the price and quantity that would maximize socialwelfare/total surplus. (c) Calculate the dead weight loss from monopoly.
assume that intermediaries come from a competitive market with and equilibrium price of $8 per unit for their services, that is, any buyer or seller who wants an intermediary's services must pay $8 for them. What is the maximum per unit that selle..
A firm uses labor and capital as factors for a technology with constant returns to scale and strictly convex production function. A new manager, looking through past data, observed that: when factor prices were: wl = 20 and wk = 5; the firm hired l..
Assume rubber hoses will be outlawed in 3 years due to water scarcity and watering regulations. My rate of interest on borrowed funds is 7.5%. What's the cash value of the firm if I want to sell it today
Class, what are some other important barriers to entry? What are more examples of oligopolies? What do we mean by industry concentration?
The value of the marginal product of labor (VMPL=p*MPL) in the local saw mill is VMPL = 20 - 0.5L, where L = the number of workers. If the wage of saw mill workers is $10 per hour, then how many workers will the mill hire
The required reserve ratio is 0.25. What are the required reserves on this new deposit What is the largest loan that the bank can make on the basis of the new deposit If the bank chooses to hold reserves of $3,000 on the new deposit,
Estimate the preceding regression. What is the interpretation of the various coefficients? Give a logical reason for why the results are this way
Suppose that a pure altruist in the affected area had come into possession of a small amount of ice. Explain why he might have charged $50 per pound for it, even if he was completely unconcerned with his own welfare.
Are you thinking bypassing a gasoline fueled car in favor of a hybrid (gasoline and electric) automobile Let's take a look at the relative economics of your possible choice. The gasolinefueled car sells for $20,000 and gets 25 miles per gallon (mp..
Suppose you are the production manager for Widgets, Inc. Your job is to produce a fixed amount of output at the lowest cost possible. When you take over the position, you find that the price paid for a unit of labor is $20 (W = $20), and the price..
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