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A survey performedby Simmons Market Research investigated the percentage of individuals in various age groups who indicated they werewilling to pay more for environmenlal.ly friendlyproducts. The results were presented in USA Today "Snapshots" (July 21, 2005). The surveyhadapproximately 3,240 respondents in each age group. Results of the survey follow:
Age Group 18-24 25-34 35-44 45-54 55-64 65and over
Percentage 11 17 19 20 14 19
Conduct a goodness-of-fit test analysis to determine if the proportions of individuals willing to pay more for environmenlal.ly friendly products in the various age groups are equal. Use a significance level of 0.01.
Compute GDP for Joe using both the product and income approaches and show how they must agree.
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The economy is operating beyond the full employment output level, thus producing rapid rise in prices of goods and services. The Fed is concerned about high inflation rates. The curb inflation, the Fed shifts to a more restrictive monetary policy by ..
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In fact, an insurance agent explains that he is always true. Nevertheless, the engineer buys fire insurance. Explain why this is or is not a logical decision.
Supposes airline industry consisted of only two firms: American and Texas Air Corp. Let two firms have identical cost function, C(q) = 40q. Assume that demand curve for industry is given by P=100-Q and that each firm expects or to behave as a Cou..
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Illustrate what output does the low point of ATC occur and illustrate what is the ATC at that output. Explain how your calculations.
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