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Suppose X represents the number of spots showing on one roll of a strange six-sided die.
The die is strange in the following sense. It has probability p of showing 1 or 6 spots; the probability p is split evenly between those two faces. The remaining probability 1-p is split evenly among the remaining four faces (the faces showing 2, 3, 4, and 5 spots).
Find E(X). Give a calculation.
Is it possible that both goods are normal? That both are inferior? That good 1 is normal? That good 1 is inferior? That one of these goods is inferior and the other normal?
individual industry like education, meat industry, tourism and agriculture. Choose any ONE industry in Australia from this list and discuss the reforms been done in that industry.
Suppose that the Law of Diminishing Returns sets in immediately (that is, there is no range of output over which the Division of Labor holds).
How should the manufacurer respond to this competitive threat? Suggest at least two alternatives.
Suppose that the required reserve ratio is 6.25%. If the Fed sells $350 million of bonds to the First National Bank. What happens to reserves and the monetary base?
Assume a perfectly competitive firm is producing a level of output at which MR
Explain the importance of education and training and health to the indigenous community of Australia. What is the evidence on closing the gap in these areas
A career in project management: Which of the following are common errors made by project managers during the planning phase of a project?
For promotion to lieutenant, police officers in a city police department first have to pass a written aptitude test. This requirement was challenged in court by several black officers on the grounds that the test unfairly discriminated against blacks..
What are some of the reasons that the U.S. has greater degrees of income and wealth inequality than other high-income market capitalist economies?
What is the relationship between Pigovian taxes and market failure? How do Pigovian taxes internalize externalities?
(a) Why is river preservation considered a public good? (b) What is the competitive market equilibrium price and quantity for miles of river preservation?
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