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Suppose the following:
• The demand function for both products 1 and 2 has a constant elasticity: Q1 = k1 p1-ε1 and Q2 = k2 p2-ε2 where εi is the absolute value of the elasticity of demand for product i and ki is a parameter that reflects the size of the market. Suppose that ε1 = 6, ε2 = 1.1, and k1 = k2 = 20.
• The cost function is C(q1, q2) = f + f1 + f2 + q1 + q2, where f is a fixed common cost and fi is product-specific or attributable fixed costs. Marginal cost of production for each product is constant and equal to 1. Suppose that f = 2, f1 = .5 and f2 = .5. A firm that produces both products is a natural monopolist. Splitting up production would entail duplicating the fixedcommon costs and thereby raise total costs. Find the Ramsey prices.
the average height of a random sample of 2000 women is 64 inches with a standard deviation of two inches.a what
Standard deviation of 2.5 minutes. What does Chebyshev's Theorem say about the percentage of employees with commuting times between 58.6 minutes and 68.6 minutes?
an american roulette wheel consists of 38 numbers of which 18 are red 18 are black and 2 are green. when the roulette
Identify the null hypothesis, alternative hypothesis, test statistic, P-value or critical value(s), conclusion about the null hypothesis, and final conclusion that addresses the original claim.
assume the readings on thermometers are normally distributed with a mean of 0 degrees celsius and a standard deviation
Spinning a coin, unlike tossing it, may not give heads and tails equal probabilities. I spun a penny 200 times and got 83 heads. How significant is this evidence against equal probabilities?
question 1 the following data are results from a study you recently completed. calculate the correlation coefficient
A study of 36 members of the Central Park Walkers showed that they could walk at an average rate of 2.6 miles per hour. The sample standard deviation is 0.4. Find the 95% confidence interval for the mean for all walkers.
suppose that the weights of airline passenger bags are normally distributed with a mean of 47.56 pounds and a standard
The random variable x, which is the number of occurrences of an event over an interval of ten minutes. It can be assumed that the probability of an occurrence is the same in any two time periods of an equal length.
The questions below should be answered completely and carefully. Refer to the 'Escape Fire Bb Upload' document for statistics and other information which may help you to formulate your answers.
A simple random sample of 6 recent graduates revealed the following information about their weekly incomes. What is the expected value of the average weekly income of all the recent graduates?
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