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Suppose that you have the following sample: {3,4,4,6,8}
a. estimate the mean and standard deviation.
b. what is the standard error of your estimate of the mean?
Why do you think firm 1's marginal cost is lower than firm 2's marginal cost? Determine the current profits of the the two firms. What would happen to each firm's current profits if firm 1 reduced its price to $6 while firm continued to charge $8?
What’s the role of price in allocating the resources? Give logical examples for explanation. Draw graphs where necessary.
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope. These are called externalities. As a policy maker concerned with correcting the effects of gases
Provide a brief critique of the CEO's use of your analysis to arrive at her decision to keep the tuition reimbursement program. Assume that she has no additional information on the relationship between employee happiness and participation in the t..
At a recent meeting, the president and the CEO of Production, Inc. got into a heated argument about whether or not to shut down the company's plant in Flint, Michigan. The plant currently loses $50,000/month. The president of Production, Inc. argu..
How are the following demand curves likely to shift in response to the indicated changes?
What is the most you would pay to call her and ask for the result? Be sure to show the decision tree that fuels your reasoning.
Many people shy away from careers in selling, often because they think they are not outgoing enough, or because salespeople are dishonest or pushy. In this weekly research paper, describe your most memorable experience with a salesperson that was ..
Agricultural commodities are known to have a price-inelastic demand and the be necessities, How can this information allow us to explain why the income of farms falls (a) after a good harvest? (b) In relation to the incomes in other sectors of the..
Plot a graph of GDP per capita against life expectancy for the countries shown. Does your plot con?rm the Pritchett and Summers ?nding?
Construct a table showing the average variable, average total, and marginal costs of paper cup production. Show your work or embed an Excel spreadsheet into your file showing the formulas you used.
Use the Porter's five forces framework to explain this pattern. Discuss possible profit-maximizing business strategies that artists, record companies, and retailers may wish to pursue.
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