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Based on many years of experience, a lecturer in ECON241 has determined that the probability distribution function of X, the number of students absent in the Tuesday morning lecture, is as follows:
1. Find the probability that on a given Tuesday either 20, 30 or 40 students will be absent.
2. Find the probability that on a given Tuesday more than 30 students will be absent.
3. Compute the expected value of X
4. Compute the variance of X
5. Compute the expected value of Y = 7X+30
6. Compute the variance of Y = 7X+30
Calculate the profit for that level of output, as well as the level of output immediately above and below it and what level of output will this firm operate at in order to maximize its revenues or minimize its losses?
Consider the following demand schedule. Does it apply to the perfectly competitive firm? Calculate marginal and average revenue.
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Optimal pricing strategy varies significantly across different market structures. The pricing guidelines in a monopoly market are relatively straightforward. Since the company is the only producer offering the product, it can mark-up the price as ..
Demand and supply functions of tomato are listed below, The maximum value of tomatoes that manufacturer will offer for sale if the price of tomatoes is $ 0.30
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A company has a EBIT to be $100,000 every year forever. The company can borrow at 5%, has no debt and cost of equity of 15%. If the tax rate is 25 %, find out the value of the firm?
What is the maximum dollar amount your firm would be willing to pay in royalty fees to the Village Council every year for the monopoly right to sell gasoline in Fanjeaux?
Construct a numerical example to show that as marginal product (MP) rises, marginal cost (MC) falls. Explain your answer and use tables and graphs to illustrate.
To prevent gasoline values from having devastating effects on economy it has been proposed that all gasoline values in U.S. be fixed at the average value for the past 2-years.
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