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Consumers of computers value high-quality ones at $1,000 and low-quality ones at $100. The supply of high-quality computers is QH = PH ? 200. The supply of low-quality computers is QL = 2PL ? 100. Only sellers know the true quality of the computers before the sale is made. If consumers think that there is a one-third chance that a computer will be of high quality, what proportion of computers will actually be high quality?
one in two
one in three
none
one in four
Suppose in a survey of N = 400 students, 215 responded that they prefer small classes and 185 responded that they prefer large classes. Let p denote the fraction of all students who preferred small classes at the time of the survey, and ˆp be the fra..
Suppose a nation picks 1000 young adults at random to serve in the army. Illustrate what information do you need to determine the cost of using these people in the Army.
Illustrate what conditions would minimize the extent of manufacturing job loss associated with this price increase.
Interior Department recently announced that it will increase the entrance fees at Yellowstone National Park in order to increase park revenues.
A company has to decide weather to lease or buy a crane for 20 Years, please calculate both seperatly and show which one is the better option.
Ilustrate what is the marginal product of capital and labor. Does the answer depend on how much labor and capital are used.
Illustrate what would happen to the firm revenue if it decided to charge a price above $354.
explain how much the minimum wage was, employers would still be more likely to pay it.
Conclude a price range where there might be a mutually beneficial insurance contract.
Suppose as in the federal income tax code for the United States, that the representative consumer faces a wage income tax with a standard deduction. That is, the representative consumer pays no tax on wage income for the first x units of real wage in..
You've recently learned that the company where you work is being sold for $475,000. The company's income statement indicates current profits o. $18,000, which have yet to be paid out as dividends. Assuming the company will remain a " going concern" i..
How do these experiments explain why England wanted to tax trade in the American colonies; which led to rebellion and the formation of the United States
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