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The next 2 questions refer to the following: A student taking economics, statistics, and finance has decided to spend 9 hours per week studying. The objective is to maximize the average grade, which means maximizing the total grade in the three courses. The table shows the student's estimate of the relation between time spent studying each course and the grade for each course. Hours of Study Economics Statistics Finance 0 50 42 56 1 62 54 68 2 71 64 76 3 79 72 82 4 85 80 87 5 88 84 90 6 90 87 93 7 92 89 95 1. How should the student allocate her time? 2. What is the maximum AVERAGE grade the student can earn if she studies 9 hours per week?
If the value of M increased from 50,000 to 60,000 also nothing else changed which would equilibrium price increase or decrease. Would the equilibrium quantity increase or decrease.
Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. Explain at what price of computers (in terms of shirts) the two countries might trade.
Assuming no other changes, if balances in money market deposit accounts increase by $50 billion and small-denominated time deposits decrease by $50 billion.
Calculate the amount of former foreign monopoly profit that is transferred as tariff revenue to the home country when the home country imposes the tariff.
Cournot (quantity) and Stackelberg (sequential) Two identical firms, Firm 1 and Firm 2, compete in quantity in a market where inverse demand is P(Q) = 100 − Q and there exists a constant marginal cost of 20 per unit. Find the quantities ˆq1 and ˆq2 c..
Suppose that the economy improves and the crime rate in West Philadelphia drops, so that the marginal product and average product of a group of 100 police offers is now 55 arrests per hour for any number of police officers. What is the optimal alloca..
While many domestic institutions play an important role in the globalization process, describe three fundamental policy measures that those countries need to promote in order to benefit from globalization. How would these policies be implemented? How..
Assume that your favourite candidate is proposing a 15 percent flat tax to replace our personal income tax. Analyze the tax and tell whether it is a good tax alternative or not. What are the strengths and weaknesses of the tax?
Provider A charges $120 per month for the service regardless of the number of phone calls made.
consider a market where demand is p10-2q and supply is pq2. there is a consumption positive externality of 2.5unit of
In the absence of regulation, firm 1 would emit 15 and firm 2 would emit 20. The firms have the following marginal control costs where q1 and q2 are the amount of emissions reduced by each firm. If instead an emission permit system was established, h..
q1. during the purchasing decision evaluation stage the consumer forms preferences among the brands in the choice set.
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