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A beer distributor claims that a new display, featuring a life-size picture of a well-known athlete, will increase product sales in supermarkets by an average of at least 50 cases in a week. For a random sample of twenty supermarkets, the average sales increase was 41.3 cases and the sample standard deviation was 12.2 cases. Assume that the population of beer sales increase is normally distributed. Find the p-value associated with the test statistic.
Consider the competitive (private) market for widgets described by the following marginal benefit (MB) and private marginal cost (PMC) curves: MB = 100? 0.1Qd PMC = 4 + 0.06Qs, where Qs and Qd vary from 0 to 1000. Calculate both the consumer and prod..
Explain what is Nurd's equilibrium level of income. Explain what is likely to happen in the coming months if the government takes no action.
lean burgers drive through receives 20 customers in every ten minutes of business time between 1200 - 100 pm during
Assume the supply function for good X can be written as Qs = -100 + 27Px - 5Py - 1.8W, where px=the price of x, Py=the price of good y, and w = wage index for workers in industry x. According to this equation: 1. each one unit increase in price cause..
Explain the difference between “Short-Run Costs” and “Long-Run Costs.” Please provide an example for a type of business, of your choosing. Please be as specific as possible.
Briefly explain whether you agree with the following statement: I recently read that more than half of the money issued by the government is actually held by people in foreign countries. If this is true, the United States is less than half wealthy as..
illustrate the actions the firm took in a certain countries to achieve this, choose a firm which became an MNE with location advantages and depict the steps the firm took in a specific country(s) to accomplish this, select a firm that became an MN..
Explain why you would not offer a loan to the next individual who applies for a car loan at your local bank at a higher interest rate than the bank pays on certificates of deposit.
Conduct original research on an American Economic History event that occurred between 1900 - 1960. (you cannot do the Great Depression or Prohibition) . I chose The Great Mississippi Flood of 1927, but my professor said " Your topic on the Mississipp..
His parents claimed that hospital doctors administered excessive oxygen to the baby and that this caused the blindness.
Suppose the supply curve is Q=2P. Suppose there is no sunk cost. what is the producer surplus if 10 units of the good are sold at price P=5. graph the supply curve, P=5, and the area of the producer surplus
Assume income is $10, the price of each slice of pizza is $1, and the price of each glass of beer is $2. Now change income to $12 and show a demand curve for pizza.
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