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The number of phone calls that arrive at a phone exchange is often modeled as a Poisson random variable. Assume that on average there are 7 calls per hour.
Show all work.
a) Find the probability that there are exactly five calls in one hour.
b) Find the probability that the number of phone calls that arrive in one hour is within one standard deviation from its mean.
Suppose each monopolist is allowed to sell both domestically and export the good. At what price will the good be traded? What quantity will each firm sell domestically and what quantity will it export?
Who stands to gain something from the use of malware? Is this a money-making opportunity or simply people that want to do harm?
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Suppose that demand for a product is Q=140-6P and supply is Q=2P-20. Furthermore, suppose that the marginal external damage of consuming this product is $4 per unit. Does it result in under-consumption? Or over-consumption? How many more or less unit..
What is the margin of error in cm? (Round to one decimal place as needed.)
After you have been in a job for a while, you should portray your switching costs as:
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Diseconomies of scale exist whenever long-run average costs:
The difference between the minimum amount that producers would be willing sell their products for and the actual amount they receive
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