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A batch of 10000 steel bars has been manufactured. The mass of those bars varies according to the normal distribution with a mean of 5.3 kg and a standard deviation of 0.2 kg. Specifications call for the bars to have a mass of between 5.0 kg and 5.6 kg. What is the expected number of bars from the batch that are within specifications?
Derive the mathematical expressions and determine the level of output where the average cost function reaches a minimum (the firmís capacity).
Under a welfare plan, poor people are given a lump-sum payment of $L. If they accept this welfare payment, they must pay half of anything they earn to the government as a tax. If they do not accept the welfare payment.
Write a letter advising a hypothetical sole proprietor to choose another form of business ownership. By definition, a sole proprietorship is an unincorporated business owned by one person known as the sole proprietor.
Suppose that the demand for plastic surgery is price inelastic. Are the following statements true or false? Describe your answer for full credit. When the price of plastic surgery increases, the number of operations decreases
Consumer Sovereignty & Dollar Votes guide the market system in dealing with which fundamental question a) What will be produced b) How is the output to be produced c) How can the system accomodate change d) Why is to recieve the output
team as we continue to understand the power of economics in a global context evaluate the impact of exchange rate
What are the necessary conditions to make price discrimination work and the best practices to use price discrimination to maximize profits while avoiding price wars? In your discussion make evident the challenges of the strategy even in markets where..
madison companys variable costs are 25 of sales. its selling price is 150 per unit. if weed sells one unit more than
Firms exist for all but which one of the following reasons?
"Cyclical unemployment is always present in the economy." Do you agree or disagree with this statement? Why?
Find the quantity of toothpaste that maximizes economic surplus. What is the relationship between this quantity and the market equilibrium quantity?
First, what does GDP measure? Even if we prefect the measure by correcting for price increaase, what does GDP really tell us? Is GDP a measure of the nation's economic health?
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