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Baby Pty Ltd. is planning to launch a new brand of makeup product. Based on market research, if sales are high they can make a profit of $18.5 million per year. If sales are 'so so' they can make a profit of $8.9 million per year. Finally, if sales are low they can lose $3.8 million per year. The probability that sales will be high is 0.51. The probability that sales will be 'so so' is 0.24. Calculate the variance of profit for the new brand of makeup product (in $ millions2). Give your answer to two decimal places.
Explain why any point on an economy’s PPF must be associated with a point on the production efficiency locus in the Edgeworth box diagram.
When a court interprets the meaning of a statute, what is the responsibility of the court? to determine and carry out the intent of the legislature that enacted the statute, to determine the best social policy for addressing the problem raised by th..
Suppose you are hired to manage a small manufacturing facility that produces Widgets. (Part A) You know that you are operating in a monopolistically competitive market, that is, you are a small part of a large market with many competitors in this mar..
What challenges do emergency managers and responders face when sheltering special needs populations? Does a community have an obligation to shelter all vulnerable or special needs populations even if they do not possess the equipment or skills to do ..
Why would elasticity of demand be important to you in determining the products on which the taxes should be levied".
If passengers can in effect sell their confirmed reservations when a seat shortage arises, why can't passengers sell their right to land at a crowded airport when a shortage of landing slots arises? Provide references please.
Explain what will happen to the money supply under each of the following circumstances. Explain your answers.
Which one of the following is NOT an assumption of the Economic Order Quantity (EOQ) model?
Suppose that in addition to repairing your car, you can also spend money advertising. If you repair your car for hours and spend A dollars advertising, your benefit (the amount you revive when you sell your car) is B(H,A)=220H-H^2+2A. Both H and A ar..
Assume there is uncertainty about the cost of disposing of the waste: there is a fifty-fifty chance that they will be $10,000 or $30,000. How this uncertainty affects the cost-benefit calculation, if the government is risk neutral, or very risk avers..
Other things equal, increasing home prices tend to:
Suppose that legalizing the use of marjuana would decrease its price by 93%. If the price elasticity of demand for marjuana is -2.00, what would be the percentage increase in the quantity of marijuana demanded from legalizing marijuana? _______ perce..
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