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During the period of time that a local university takes phone-in registrations, calls come in at the rate of one every two minutes.
a. What is the expected number of calls in one hour?
b. What is the probability of three calls in five minutes?
c. What is the probability of no calls in a five-minute period?
Suppose in Belgium the opportunity cost of producing a trombone is 8 clarinets. In Denmark the opportunity cost of producing a trombone is 6 clarinets. What is the opportunity cost of producing a clarinet for Denmark?
This decision shows that Gene is: more interested in earning high profits than achieving security. motivated by his desire to quickly begin operations with a minimum of effort. not a self-motivated individual. afraid to get int..
Assume increase in government spending. Would the effect on AD be larger if the Fed held MS constant in response or if the Fed were committed to maintaining a fixed interest rate?
Identify the market structure that best matches the competitive qualities found in the market where these products are made and sold. Explain your answer.
Suppose the People's Bank of China wishes to peg the rate of exchange of its currency, the Yuan, in terms of the U.S. dollar. In each of the following situations, should it add to or subtract from its dollar foreign exchange reserves? Why? a. U.S. pa..
Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics. The effect of government regulation on a monopolist's production decisions.
Think about a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.). Explain how the law of demand affected your purchase. Give specific examples of how the determinants of dema..
Describe managerial/leadership roles, skills, and strategies facilitating positive change outcomes in relation to assisting the organization to prepare for change and discuss the importance of preparing the organization for change.
The owners of a small manufacturing concern have hired a manager to run the company with the expectation that (s) he will buy the company after five years. The goal of the owners in making this hire is to find the appropriate manager that will increa..
A company issued 10 year, 7% bonds with a par value of $100,000. The company received $96,526 for the bonds. Using the straight line method, the amount of interest expense for the first semi-annual interest period is:
Describe some of the factors needed to reengineer corporate thinking that Southwest Airlines already exhibits. What specific elements of a corporate entrepreneurial strategy are apparent within Southwest Airlines? How was Herb Kelleher instrumental i..
The cyclical rate of unemployment can be negative, which implies that the business cycle sometimes produces too little unemployment. How can there be “too little” unemployment for the health of the economy? When the one million quit looking for jobs,..
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