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Based on a Bellowes survey of adults, there is a 0.48 probability that a randomly selected adult uses a tax preparer to file taxes. Find the probability that among 20 randomly selected adults, exactly 12 use tax preparers to file their taxes.
Using supply and demand and competitive analyses, explain what happens to a pharmaceutical company's revenues and profits from an individual drug once it loses its patent protection.
Describe the current European union its expanded membership and its problem and prospects for year 2015 what keeps so many disparate countries together"? is there a European identity? will they continue to expand? What issues will dominate the coming..
The tax increases necessary to fund future Social Security and Medicare benefit payments would be. Active changes in tax and spending by government intended to smooth out the business cycle are called ________, and changes in taxes and spending that ..
Suppose that this year’s money supply is $500 billion, nominal GDP is $10 trillion, and real GDP is $5 trillion. What is the price level? What is the velocity of money? Suppose that velocity is constant and the economy’s output of goods and services ..
at a time when demand for ready-to-eat cereal was stagnant a spokesperson for the cereal maker kelloggs was quoted as
A population has a mean of 50 and a standard deviation of 19. If a random sample of 64 is taken, what is the probability that the sample mean is each.
A firm that sells an economics book faces a demand curve: Calculate how many economics books will be demanded from the first firm and how many chemistry books will be demanded from the second firm. Calculate the point price elasticities of demand for..
Suppose that an individual has an income of $400 all of which he/she spends on two goods Y and X. If he/she spends all of his/her income on Y, the maximum amount of Y he/she can consume is 100 units. Draw a budget line for the individual and show whe..
In the land of Chin there are two distinct and equally numerous peoples: Yins and Yans. The Yang have historically been stronger and more aggressive that the Yins. What is the most likely source of the wage differential between the Yin and Yan paddle..
Managers have submitted the top 20 proposals for consideration. Determine the number of possible combinations.
Can you illustrate an example of product differentiation? Is this product differentiation important to the sellers and buyers?
A pharmaceutical firm faces the following monthly demands in the U.S. and Mexican markets for one of its patented drugs: Find the demand, marginal revenue, and marginal cost curves for each market. Estimate the profit-maximizing prices and quantities..
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