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What is a the opposite of a discrete random variable?
The Micro Brewing Corporation asks you to forecast changes in consumer beer purchases associated with a proposed price change. You conduct a survey and find that if the price of a six-pack increases from $5.50 to $7.50, the quantity demanded.
What does the president and congress do to stimulate the economy? What does the president and congress do to contract the economy?
When the price of good X falls from . 10 to . 9, the demand for good Y Increase from 20 Kg. to 25 Kg. a) What is the cross elasticity of demand of good Y for good X b) Are goods X and Y compliments or substitutes
You own a store, and short on cash, a customer offers to pay you $100 now, $200 next year, $300 in two years, and $400 in three years. What is the present value of this payment stream if the interest rate is 10%
Discuss the relationship in the price and quantity demanded in question four on a graph. Is the relationship direct or inverse?
Based on the information below about the production structure, explain whether the technology used demonstrates constant returns to scale (CRS) or increasing returns to scale (IRS) property. The labor cost of production of Q units of a good is give..
Kean University Professor Henry Saffer and Wharton School of Business Professor Dave Dhaval estimated that if the alcohol industry increased the prices of alcoholic beverages by 100 percent underage drinking would fall by 28 percent and underage b..
how much does the economy have to grow potential output is 3.5 and the unemployment rate is 7.3 in 2014 to bring the
A local restaurateur whose business had been profitable for many years recently purchased a liquor license, giving her a legal right to sell beer, wine and spirits at the restaurant. The license cost $75,000. While the license is transferable
Suppose economists observe that an increase in government spending of $10 billion raises the total demand for goods and services by $30 billion. If these economists ignore the possibility of crowding out, hat would they estimate the marginal prope..
A farmer grows wheat, which he sells to a miller for $100. The miller turns the wheat into flour, which he sells to a baker for $150. The baker turns the wheat into bread, which he sells to consumers for $180. Consumers eat the bread.
Assume the players are monopolists, but the teams are competitive in the labor market. Calculate the marginal revenue product of labor (MRPL) and find the equilibrium wage and quantity of labor.Find the equilibrium wage and quantity of labor.
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