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Suppose a prosecutor expects to convict a defendant with probability .5, and that the sentence on conviction is ten years in prison. Assume the prosecutor values prison time at $1,000 per year (its value as a deterrent of crime), and incurs a cost of trial equal to $2,000.
(a) What is the minimum prison sentence the prosecutor will offer as part of a plea bargain if her objective is to maximize the expected value of the sentence imposed, less the cost of trial (if any)?
(b) Suppose the defendant believes his chances of being convicted are .30, his cost of prison time is $5,000 per year, and his cost of a trial is $1,000. Will he accept the plea bargain in (a)?
if the economy is at point c, what is the cost of one more automobiles of one more forklifts which characteristics of the production curve reflects the law of increasing opportunity costs: its shape or its length
Recent research shows that the Kuznets relation no longer holds. Why do you think this is?
Why are process structure and inertia considered problematic for innovation? How do these reveal gaps in the current practice? How can these gaps best be reconciled? Support your reasoning
The demand curve for product x is given by Qx^d=460-4Px a.)Find the inverse demand curve. b.)How much consumer surplus do consumers receive when Px=$35 c.)How much consumer surplus do consumers receive when Px=$25
Consider a bank that has assets of 100, capital of 20, and short-term credit of 80. Among the bank's assets are securitized assets whose value depends on the price of houses. These assets have a value of 50. Set up the bank's balance sheet.
Consider the example of Figure 11.3. Suppose we define as fair a cutback in which the two sources have the same total costs. Would an equiproportionate reduction be fair in this sense? A reduction meeting the equimarginal principle? Is this a reas..
Assume the only choice variable is x. The total benefit function is B(x) =170x - x2 and the cost function is C(x) = 100 - 10x + 2x2 a) What are the marginal benefit and marginal cost functions
From 1992 through 1999, the average annual return to holding common stocks was 16 percent and the average annual percentage growth in business fixed investment was 8 percent. How would q theory link these changes? Empi
elaine as senior partner can make a take-it-or-leave it offer to her junior partner john to undertake a project and
1. Use these combinations for parts a and b: COMBINATION BASKETS POUNDS OF FOOD PREFERENCE A 1 1 9 B 1 2 6 C 1 3 3 D 2 1 8 E 2 2 5 F 2 3 2 G 3 1 7 H 3 2 4 I 3 3 1 a. If more is preferred to less, which combinations are clearly preferred to other co..
What is the formula for finding omitted variable bias with multiple regressors?
Assume that the government at Home decided to use the import tariff of $100. Calculate the new world price, the new imported quantity and the tariff revenues collected by the government.
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