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Q. The Texas Transportation Institute at Texas A&M University conducted a survey to determine the number of hours per year drivers waste sitting in traffic. Of 75 urban areas studied, the most jammed urban area was Los Angeles where drivers wasted an average of 90 hours per year (U.S. News & World Report, October 13, 2003). Other jammed urban areas included Denver, Miami, and San Francisco. Assume sample data for six drivers in each of these cities show the following number of hours wasted per year sitting in traffic. Denver Miami San Francisco70 66 6562 70 6271 55 7458 65 6957 56 6360 66 75
a. Compute the sample mean hours wasted per year for each of these urban areas.
b. Using a = .05, test for significance differences among the population mean wasted time for these three urban areas. What is the p-value? What is your conclusion.
The municipal swimming pool charges lower entrance fees to local residents than to non-residents. Conclude that non-residents must have for swimming at the pool than residents.
Find the equilibrium values of the real interest rate, consumption, investment, and the price level.
How can two countries both be better off as a result of trade? How can tariffs protect U.S. jobs? Do tariffs lead to a net increase in jobs?
The cost curves of the firm. In terms of economies of scale, why would a firm sometimes want to expand output and sometimes not want to expand output.
Suppose that the US government determines that cigarette smoking creates social cost not reflected in the current market price an equilibrium quantity of cigarettes.
Quantity, whole revenue and profit when company charges different price in each market and exploits its total profit.
Sets out the aggregate demand and aggregate supply schedules in Japan. Potential GDP is 600 trillion yen. What is the short-run macroeconomic equilibrium.
Recent survey of high school students, it was found that the average amount of money spent on entertainment each week. Values are representative of all high school students.
Numerous times in the lectures labelling the vertical axis as euro per $ and the initial supply and demand curves labelled with 12/07, Label this initial point as point A.
Mining is proposed for a wilderness area that provides two benefits: recreation due to backpacking opportunities and biodiversity there are endangered wildlife and plants.
For every firm in group B , long-run ATC curve is U-shaped and intersects the long-run MC curve when ATC = 10 and output is 6.
What is the deadweight loss if buyers, instead of vendors, are required to pay the tax of $4 for each unit of the good sold.
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