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The time (in hours) a manager takes to interview a job applicant has an exponential distribution with β = 1/2. The applicants are scheduled at quarter-hour intervals, beginning at 8:00 A.M., and the applicants arrive exactly on time. When the applicant with an 8:15 A.M. appointment arrives at the manager's office, what is the probability that he will have to wait before seeing the manager?
A perfectly competitive market and the perfectly competitive potato producers in Prince Edward island, the market demand curve rot potatoes
Calculate the elasticity of demand from point A to point B. Calculate the elasticity of demand from point C to point D. Calculate the elasticity of demand from point E to point F.
Does a cubic equation appear to be suitable specification given these data? You may wish to construct a scatter diagram to help you answer this question. Using a computer for regression analysis, estimate your firm's short run production function usi..
You purchased a piece of property at $360,000 five years ago. You can sell the property at $450,000. What is the rate of return on real estate investment?
Assume that a profit maximizing monopolist faces an inverse demand function given by p(), and a total cost given by c(y). Suppose the government wishes to combat the undesirable allocational effects of a monopoly
What is the law of diminishing marginal productivity? How does it differ from average productivity?
Plot the countrys production possibilities curve - Calculate the opportunity cost of producing guns and butter at each point in the production possibilities curve.
perform the cost-benefit analysis of obtaining graduate degree. assess both short-term and long-term costs and benefits
Chamber of Commerce, and your colleague has written a position paper and asked you to proof read it. In that report, she concludes; "in 2009, the U.S. exports were $1.571 billion and imports were $1.946 billion, with a resulting trade deficit of $..
Draw the indifference curve for perfect complements where the the utility function is given by U=MIN(X,5Y). Sketch the curve for utility levels 1,3 and 5
Consider the argument that government spending and borrowing harms long-run economic growth. A. Is this most likely to happen if the private spending crowded out is consumption spending or investment spending.
Which of the following market structures will have higher prices in the long run than perfect competition?
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