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When 425 junior college students were surveyed, 150 said that they have previously owned a motorcycle. Find a point estimate for p, the population proportion of students who have previously owned a motorcycle. Round to the nearest thousandth.
Discuss the following statement: In the real world there is no industry which conforms precisely to the economist’s model of perfect competition. This means that the model is of little practical value’. Illustrate with a diagram and explain the short..
Describe how the investigation and prosecution of the misappropriation of a trade secret is accomplished without divulging the trade secret.
What unique competitive advantage does the xerox corporation exhibit? and do you consider this to be sustainable competitive advantage?
If an allocation of economic resources is not efficient, then some of the potential gains from trade among buyers and sellers are not being realized. Explain why an allocation is inefficient if a good is not being produced by the sellers with the low..
On Feb. 12, 2015, you buy a bond that pays a semi-annual coupon of $100 on Feb. 12 (including today) and Aug. 12 until the final coupon payment on Feb. 12, 2018. In addition, the bond will pay $10,000 on Feb. 12, 2018. What is the maximum price you c..
Find the probability that a randomly selected shirt has loose threads or has crooked stitching.
In health economics, define what is meant by intensive margin and extensive margin. Thinking about a diagnostic test such as breast cancer screening, describe what it means to increase the use of the test (1) on the intensive margin and (2) on the ex..
Elmer Fudd likes to hunt “wabbits” but also likes to hunt duck. His utility function can be expressed as U(W,D)= 1/(-(2W^2+D^2 )^2 ). Solve for the marginal utility of both “wabbits” and duck. Write the tangency condition, what can you tell me about ..
The consultants of Allcare Family Clinic (AFC) have determined that if the clinic hires two more practical nurses, without any other changes in its operation, it can increase the number of patients it treats during a week from 200 to 220. The weekly ..
Suppose a monopolist produces according to the following demand curve: P = 200 - 4 Q. Assume that the firm faces a constant marginal cost and constant average total cost of $56 per unit produced. What quantity should this firm produce? What price sho..
Suppose you own a portfolio consisting of $250,000 of long-term U.S. government bonds. What is the least risky security you can think of? Explain. Would your portfolio be riskless? Explain.
1. A permanent increase in money supply cannot affect any variable in the OLG model of money.
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