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Converting data info to understand past and current performance is the core of descriptive analytics and is vital to making good business decisions.
In the financial industry describe the details of a specific graphical representation of the distrubition of data a histogram. What is the business or economic scenario?
Where would you find the data you needed to create your histogram? Which company reports or document would you use for your research?
Some lenders charge an up-front fee on a loan, which is subtracted from what the borrower receives. This is typically described as "points" (where one point equals 1% of the loan amount). The federal government requires that this be accounted for in ..
Consider a perfectly competitive market where demand is given by P=84.20-2.15Q and supply is given by P=12.78+1.20Q. Calculate the equilibrium quantity.
You have just graduated from college and received a job offer from a local company as a project engineer. The job pays an annual base salary of $55,000, which is paid at the end of every year. In addition, the company offers you an immediate bonus of..
Explain a pricing strategy which would increase profits compared to a single price profit maximizing strategy. Be sure to include a graph which explains your demand, marginal revenue, and marginal cost.
The Case in Point titled “Some Reflections on the 1970s” describes the changes in inflation and in unemployment in 1970 and 1971 as a watershed development for macroeconomic thought. Why was an increase in unemployment such a significant event?
What determines whether or not a resource is scarce? Why is the concept of scarcity important to the definition of economics? Discuss the impact of rational self-interest on each of the following decisions. Suppose you go to a restaurant and buy an e..
A group of 20 doctors are considering forming a new medical group also has asked you to prepare a report on whether they should build a facility in an area.
we dot know whether the total quantity of Internet ads will increase or decrease. Is the students analysis correct? Illustrate your answer with a demand and supply graph.
Several questions in this problem set are based on the 8/19/12 Wall Street Journal article "Cartel Pushes Up Price of Rubber." This article is at the end of the module on Antitrust Policy. There are no good substitutes and economies of scale are larg..
A business in a monopolistically competitive industry...
Graph the demand curve on a standard supply and demand graph. What is the quantity demanded of corn at a price of $6.00 per bushel? at $4 per bushel? Using the midpoint formula for the price elasticity of demand, calculate the price elasticity of dem..
Illustrate what effect would customer expectations of substantial price increases in music players have upon the demand for portable music players in a completive marketplace
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