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Packages of sugar bags for Sweeter Sugar Inc. have an average weight of 16 ounces and a standard deviation of 0.25 ounces. The weights of the sugar bags are normally distributed. What is the probability that 25 randomly selected packages will have an average weight in excess of 16.06 ounces?
A price change causes the quantity demanded of a good to decrease by 30 percent , while the total revenue of that good increases by 15 percent. Is the demand curve elastic or inelastic ? Explain?
If the Fed sells $2 million of bonds to the First National Bank, What happens to reserves and the monetary base? Use T-accounts to explain your answer.
An individual has to choose between investment A and investment B. The individual estimates that income and probability of the income from each investment are given in the following table (a) Using Excel's statistical tools, calculate the standard..
Examine the characteristics of perfect competition. Think about the economic forces that lie behind the social attitudes and changes that have taken place in the labor market.
What two kinds of changes in the capital stock can improve labor productivity. how can each type be illustrated with a per-worker production function.
You are the administrator of hospital and situation has been brought to your attention.
a) Calculate the uncompensated (Marshallian) demand functions for x and y and describe how the demand curves for x and y are shifted by changes in income or the price of the other good. Show all working. b) Calculate the expenditure function for x..
Households at bottom, Business at top, Product mkt left, Resource mkt. right side. And government in middle. Also bank is out of flow between product mkt. and Business's with money flowing in and out of flow. Diagram only portrays flow of money betwe..
With respect to malpractice, would community rating of physicians or individual rating of physicians be more likely to generate efficient behavior on the part of physicians What is the impact of the number of physicians in the plan
What is the quantity produced if L = 1,000 and K = 100? Image text transcribed for accessibility: A firm that manufactures office desks has the following production function in the short run: Q = 400 L0.8 K0.5 where Q = the quantity of chairs prod..
What is the distinction between net investment and gross investment? Which is the total amount spent on investment in a given year? Which is the change in the capital stock?
How does a utility-maximizer decide how much to work and how much time to spend in leisure activities?
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