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If a confidence interval is given from 8.50 to 10.25 and the mean is known to be 9.375, what is the margin of error?
While tariffs and quotas have declined drastically under GATT and the WTO, nontariff barriers have been on the rise. Why would countries use nontariff barriers to distort natural trade patterns? Are there situations when the use of nontariff barriers..
Suppose the monopolist cannot separate the two groups of buyers, but he can observe and charge the marginal utility of each unit of purchase as in the case of 1st degree price discrimination. How many units will the monopolist sell to the two groups ..
Examine the impact on a small country following an outward flow of immigrants that decreases its labor force. Assume that land is specific to agriculture and capital is specific to manufacturing, while labor is free to move between the two sectors.
Mrs. Siegal has two alternative activities to help relieve her backache. In the first, she can visit a physiotherapist. The total time for a physiotherapist visit, including travel and waiting, is two hours. Mrs. Siegal earns a wage of $20 an hour. P..
In addition, explain why it is important to our analysis as engineering economists. Do we see capital gains much in industry-based
Use a diagram to show the consumer surplus , producer surplus and total surplus of the market for groceries in this small town. Now suppose these small supermarkets successfully form a cartel which behaves like a monopoly, How does this cartel affect..
Explain why "money supply shifts" are important in macro-economics.
You are the owner of a local Honda dealership. Unlike other dealerships in the area, you take pride in your "No Haggle" sales policy. Last year, your dealership earned record profits of $1.7 million. What price should you charge for a midsized automo..
U.S. government price supports for milk led to an unceasing surplus of milk. In an effort to reduce the surplus about a decade ago, Congress offered to pay dairy farmers to slaughter cows. Use two diagrams, one for the milk market and one for the mea..
Calculate the average cycle stock for this item using the order quantity in part a. c. Assuming there are 12 periods per year, calculate total cost per year.
Having access to the books and understanding local markets better than new owners, the owners of medical practices generally understand their finances better than prospective buyers do. What sorts of transactions tend not to take place? What can buye..
Explain rational expectations in your own words. Using the rational expectations model is the U.S. stock market efficient? Why or Why not?
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