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Question: Translate the following English sentences into statements of predicate calculus that contain double quantifiers and explain whether it is a true statement.
a. Every rational number is the reciprocal of some other rational number.
b. Some real number is bigger than all negative integers.
Give a numerical example to show that a monopolist's marginal revenue can be upward-sloping over part of its range.
Suppose an investment has three possible outcomes. There is a 30% chance that it brings a profit of 4,000,000. There is a 50% chance that it brings a profit of 1,000,000. There is a 20% chance that is brings a profit of 0. What is the expected pro..
Summarize an article using at least three economic terms and theories covered in class. Identify the impact of the policy on Demand or Supply of the good(s) or service(s). Discuss the change(s).
What are comparable real salaries? A job paid $57,000 in 2002. The CPI in 1960 was 29.6, compared to 179.9 in 2002. In 1960, what salary would be comparable to 2002's $57,000 in real terms?
What do we call the market value of all final goods and services produced within a country in a given period of time?
What are the major factors that determine investment, and what impact does each have on aggregate demand? Describe the difference between a microeconomics demand curve and an aggregate demand curve.
How Disney dealt with the Principal - Agent Problem: In 1984, the Walt Disney Company brought in Michael Eisner, a Paramount executive as CEO. The firm's board of directors agreed to pay Eisner a salary of $750,000, plus a $750,000 bonus for signi..
describe some forms of private spending that represent consumption and some forms that represent investment. The national income accounts include tuition as a part of consumer spending. In your opinion, are the resources you devote to your educati..
Lerner Index to compute your price mark-up. What is your optimal price if you produce 1000 units.
Your employer has just assigned you to a six-month project in Europe and you leave next week. You have just decided to list your house for sale and you have an agreement with ABC Realty to market your house. You need to appoint someone to act as ..
Suppose Handel's Ice Cream experiences economies of scale up to a certain point and diseconomies of scale beyond that point. Its long-run average cost curve is most likely to be:
What is the value price elasticity of demand.
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