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The length of life of oil-drilling bits depends upon the types of rock and soil that the drill encounters, but it is estimated that the mean length of life is 75 hours. An oil exploration company purchases drill bits whose length of life is approximately normally distributed with mean 75 hours and standard deviation 12 hours. What proportion of the company's drill bits
a will fail before 60 hours of use?
b will last at least 60 hours?
c will have to be replaced after more than 90 hours of use?
A function of government is to regulate natural monopolies. Describe what is a natural monopoly and why it needs government regulation
Discuss Cokes foreign investments - describe any foreign financing currently in place. Also discuss prior foreign financing. What are the reasons that Coke utilized foreign financing?
"All else held constant" is a major problem facing all methods of estimating the demand for business products. Compare and contrast how the marketing and economic approaches deal with this problem. Please use examples.
What is a government budget deficit How does a federal budget deficit affect the economy Howdoes it affect the level of investment and interest rates How doesit affect the individual consumer
Define cross-price elasticity, including substitutes and complements and provide a credible explanation of whether demand would tend to be more or less elastic for the share of consumer income devoted to a good.
1. assume that the market for computers begins in equilibrium. then there is a decrease in a price of pentium
The world willingness to pay for oil is given by P = 200 - Q, with P in dollars per barrel and Q in thousands of barrels per month, and OPEC is planning its strategy to set the world oil price. The competitive fringe of small firms takes the price OP..
Discuss the following economic consequences of World War I: 1. human capital loss, physical destruction, 2.breakdown of international trade. , 3.Explain and quantify the German hyperinflation that followed WWI.
Implement to support a stronger economic recovery
A firm has the following total cost function TC = 0.8Q3- 20Q2+ 220Q + 500 - What is the average total cost if output is 15 units?
explain in words, and use a graph to illustrate, how a Monopoly decides how much to change and how much to produce. Include Marginal Cost, Marginal Revenue, Demand, Average Total Cost, and Profit. Assume the Monopoly is a Natural Monopoly and draw..
There are 100 consumers, each of whom values a concert ticket at a unique whole number dollar amount between $1 and $100. One customer is willing to pay $1, a second is willing to pay $2, a third is willing to pay $3, and so on. An unlimited numbe..
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