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Recently, a university surveyed recent graduates of the English Department for their starting salaries. Four hundred graduates returned the survey. The average salary was $25,000 with a standard deviation of $2,500. What is the best point estimate of the population mean? 400 $25,000 $62.5 $2,500
Suppose that the production function for the corporate sector is well represented by the Cobb-Douglas production function: Y=K^0.3L^0.7 Suppose that the capital stock of the firm is K bar= 10. Show that the demand for labor is given by W/P= 1.4L^-..
(a) What are the equilibrium quantity and equilibrium price Graph your solution. (c) If a $2 excise tax is levied on this good, what will happen to the equilibrium price and quantity. How much tax revenue does the government earn with the $2 tax.
The daily production function of a lake is TP=30*F-F^2 (where TP=total daily harvest and F=number of fishermen per day). Suppose each potential sport fisherman on the lake has a daily opportunity cost of $20 and that each fish caught is valued at ..
Assume that the consumption schedule for a private open economy is such that consumption C=50+0.8Y. Assume further that planned investment Ig and net exports Xn are independent of the levelof real GDP and constant at Ig=30 and Xn=10.
If the actualy price in this market were above the equilibrium price, what would drive the market toward the equilibrium. If the actual price in this market were below the equilibrium price, what would drive the market toward the equilibrium
Valles Global Industries (VGI) is considering selling a product to SohnCo. The contract sells parts for revenue of $32 million a year for 15 years. Their initial investment is $150 million and the equipment has no salvage at 15 years. They esti..
For the last 4 months, a contract generated a net $6000 per month. Julian sold the equipment yesterday for $3000 to a friend.For the net cash flows experienced, what could Julian have paid for the equipment 8 months ago to have payback plus a retur..
Assume that current wind farms produce 2.5 W/m2. Succinctly explain whether you would expect the average power per square meter of wind farms to rise or fall as the production of wind energy expands to, say, 10% of our primary energy consumption...
)TLC Lawn Care, Inc. provides fertilizer and weed control services to residential customers. Its seasonal services package, regularly priced at $250, includes several chemical spray treatments. As part of an effort to expand its customer base, TLC..
What is the cost of producing q output in the short-run? d. What is the marginal cost of producing a 301s unit? A 401st unit? If you are comfortable doing so, you may answer this question by writing down the marginal cost function directly, rather..
Consider an economy in which the marginal labor MPN is MPN= 309-2N, where N is the amount of labour used. The amount of labor supplied, NS, is given by NS=22+12w+2T, where w is the real wage and T is a lump-sump tax levied on individuals.
Country B has 35000 units of labor and takes 7 units of labor to produce one unit of manufactures and 5 units to produce one unit of food. What is the price of manufactures in terms of food at which A and B would respectively supply manufactures.
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