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Please answer the following questions from the grouped data using Excel.
1) You go to Europe, and you want to present your data in Celsius. Knowing that C = (F - 32) * (5/9), where F is the temperature in Fahrenheit and C is the temperature in Celsius, what is the average daily temperature of your city for your period of analysis, in Celsius? (Try to use Excel to make this computation, although any calculator would work for this question). Present your answer rounded to one decimal place.
2) You go to Europe, and you want to present your data in Celsius. Knowing that C = (F - 32) * (5/9), where F is the temperature in Fahrenheit and C is the temperature in Celsius, what is the standard deviation of the daily temperature of your city for your period of analysis, in Celsius? (Try to use Excel to make this computation, although any calculator would work for this question). Present your answer rounded to two decimal places.
Compute the income elasticity of demand for product below, by using average values for quantities and incomes.
Suppose that Bank of America makes the maximum loan they can from the funds you deposited. Use a T-account to show the initial effect on Bank of America's balance sheet from granting the loan. Also include in this T-account the transaction
After consuming one Coke, John has a total utility of 10 utils. After two Cokes, he has a total utility of 25 utils. After three Cokes, he has a total utility of 50 utils. Does John show diminishing marginal utility for Coke.
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope. These are called externalities. As a policy maker concerned with correcting the effects of gases and particulate..
You are the manager of Taurus Technologies, and your sole competitor is Spyder Technologies. The two firms' products are viewed as identical by most consumers. The relevant cost functions are C(Qi) = 4Qi, and the inverse market demand curve for th..
Would you have been less likely or extra likely to borrow the money if they had known the true inflation rate? Who was hurt by the fact that the actual inflation was not equal to the expected inflation rate, the lender or the borrower?
Explain how do you examine the higher demand has affected the equilibrium wage. In which direction do you think the labor supply and demand shifted.
Identify also describe three trade restrictions. In your opinion, which method of restricting trade is the most efficient.
Suppose that the price of peanuts falls from $3 to $2 per bushel and that, as a result, the total revenue received by peanut farmers changes from $16 to $14 billion.
There is a vast number of hog farmers in Canada. Industry should be a good approximation to perfectly competitive market. The demand for processed pork in Canada is;
Do these firms have an incentive to reduce their pollution? Explain with diagram. d. Modern economists suggest 2 solutions to the pollution problem above. Explain how a pollution tax (use diagram) and an emission permit trading scheme can both "so..
Read Incorporating demand-side aspects into regional policy. Discuss how the implications of this article could hold for individual states within the US. How do you see these concepts played out inNew Hampshire?
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