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Packages of sugar bags for Sweeter Sugar Inc. have an average weight of 20 ounces and a standard deviation of 0.3 ounces. The weights of the sugar bags are normally distributed. What is the probability that 25 randomly selected packages will have an average weight more than 19.9 ounces?
The four-man team would be able to assemble a unit in one hour. Which approach would result in more economical assembly?
Assume that in a private closed economy consumption is $240 billion and investment is $50 billion, both at the $280 billion level of domestic output.
Movie rentals and popcorn are complement goods for Elizabeth.
The production function : q = L. This function is widely used in economic research. Using the function, show the following. statement in mathematical proof:
Gotcha, the only seller of stun guns, faces the inverse market demand curve P = 400 - 12Q, where Q measures the number of stun guns per day
A monopoly with a constant marginal cost m has a profit maximizing price of p1. It faces a constant elasticity demand curve with elasticity e. After the government applies a specific tax of $1, its price is p2. What is the price change p2-p1 in terms..
Pretend that you have just been surprised with a genuine e-mail that says you have just been selected by your favourite pizza delivery company that every day for the next month you will receive your favourite pizza for lunch and another of that same ..
?The law of demand states that quantity demanded of a good is inversely related to the price of that good. Therefore, as the price of a good goes:
Suppose a person has $20 to spend on music and likes both rap music (R) and country music (C) with a set of preferences so that U=C^1/2R^1/2. Write down the budget constraint equation for him. Show his optimal consumption choice in a graph. Use the h..
At its current level of production, a profit-maximizing firm in a competitive market receives $12.50 for each unit it produces and faces an average total cost of $10. At the market price of $12.50 per unit, the firm's marginal cost curve crosses the ..
What are the differences between consumer and industrial goods and what are the implications for international marketing? Please discuss.
During the past year, gasoline prices have been very volatile. One reason given for at least some of the volatility is the threat of war between Israel and Iran. More recently, there has been a report of serious fire damage to Venezuela's largest ref..
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