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1. A town has 100,000 families; 0.1 of 1% of these families have incomes over $200,000 a year. The number of such families is.
2. There are 100 million eligible voters in the United States. The Gallup poll interviews 5,000 of them. This amounts to 1 eligible voter out of every.
3. In the United States, one person out of every 200 is in the army, and 8 of every 10,000 are army officers. What percentage of army personnel are officers, or can this be determined from the information given?
4. In the US, one person out of every 500 is in the navy, and one-sixth of naval personnel are officers. What fraction of the U.S. population consists of naval officers? Or can this be determined from the information given?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
The Australian government administers two programs that affect the market for cigarettes
How many tickets to sell to maximize total welfare.
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
Depict the von Neumann-Morgenstern utility index u in a diagram
What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
Calculate gross national product and net national product
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