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A normal population has a mean of 20 and standard deviation 4.
a. Compute z values associated with 18, 20 and 25.
b. What proportion of population is between 20.0 and 25.0 c. What proportion of population is less then 18.0.
A monopolist demand curve and MR curve are separate. There are two different customers with two different elasticities but you still want to maximize profit (with MR=MC for each customer separately). A price discriminating defence monopolist manufact..
Miller and Wicks-Lim disagree. Explain why, referencing their arguments on a) the argument that high skill jobs aren’t the main type of employment available (use a statistic), What do the authors think is causing the current unemployment?
Assume that trade opens between Argentina and New Zealand and that, with trade, a pound of mutton exchanges for a bushel of wheat. Before trade, Argentina produced at point A and New Zealand produced at point C. Argentina moves to point B, while New ..
Now suppose another, identical firm, enters the market. Solve for the new profit maximizing price.
Which of the following statements is true if the consumer chooses between Christmas trees and Christmas lights:
The college has annual fixed costs of $10 million, and the variable cost for each additional student is $5,000. To continue operating, the college must receive payments equal to its total costs.
Graph the Demand, Marginal Revenue, Marginal Cost, and Average Total Cost curves. What are the equilibrium price and quantity for this monopolist if it charges a single price to everyone? How much profit does the firm make? Show on the graph whether ..
The structural engineering design section within the engineering department of a regional electrical utility corporation has developed numerous standard designs
What is the difference between financial investments and accounting investments? You also need to provide an example of each for both individuals and corporations.
Suppose the short-run equilibrium level of real GDP is $4,000 billion and the MPC = 0.75. If full employment (natural) real GDP is $5,000 billion, what fiscal policy action could the government undertake to put the economy at full-employment equilibr..
Compare and contrast the three different perspectives on sustainability. What is your perspective and how would you classify it given the three general views of sustainability we discussed? Consider what you have learned about the economics of non-re..
A firm can determine how many resource units to acquire by comparing Marginal Revenue Product and Marginal Factor Cost, then continuing to acquire another unit so long as its MRP exceeds, or at least is no worse than, its MFC.
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