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IQ scores are normally distributed and assume that the average IQ for all Economics majors is 108 with a standard deviation of 11.
What percentage of Economics majors would have an IQ of more than 118?
Limited funding may lead scientists to research one topic instead of another.legislators may create new laws about the use of natural resources based on the recommendations of scientists.
The equation QA= 1/2(12-Q)b) is the so called reation function of duopolist A in a COurnot model becasue given the value of Qb, Qa gives the best or profit-maximizing level of sales of oligopolist A. Show that this is the case with reference. Wha..
What is the relationship between the average variable cost and marginal cost and relation between average product and average variable cost?
California's newly deregulated power market start operation. The large power utilities in state turned over control of their electric transmission amenities to the new Independent System Operator (ISO) to promise fair access to transmission through a..
Rank the countries according to GDP per person in the most recent year for which you collected data. List the countries with the 10 highest levels of GDP per person. Has the composition of the 10 richest countries changed since 1970?
What is the profit maximizing level of output for this monopolist? What price will the firm charge? What profit will the firm earn and what are your answers to (a) if average consumer income is $30,000?
Show that the optimal amount of the public good isthe same in every Pare to efficient allocation. What is this amount? Will the optimalamount of the public good change if the initial wealths of the two individuals change?
Explain and illustrate what is expected to happen to an economy in "absolute macroeconomic equilibrium when, ceteris paribus, there is an established concerted policy to bring down loanable interests rates. Use both, the Aggregate Expenditure grap..
Suppose that you are on holiday in Russia, when suddenly you are arrested and accused of spying for United States.Your captors tell you that if you confess, you will receive a prison sentence of 2-years,
Calculate total cost and average total costs if demand is 450 per month and what happens to average total costs (ATC) when your production goes up from 250 to 450?
The government dislikes smoking, and likes tax revenue. If they wanted to increase the after-tax price to $10 per pack, what size of excise tax must be placed on sellers? How much revenue will it raise? What will be the Deadweight Loss?
What is the law of diminishing returns? Can you provide an example of when diminishing returns have set in (could set in) at a work place?
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