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The time it takes a worker on an assembly line to complete a task is exponentially distributed with a mean of 8 minutes. a. What is the probability density function for the time it takes to complete the task? b. What is the probability that it will take a worker less than 4 minutes to complete the task? c. What is the probability that it will take a worker between 6 and 10 minutes to complete the task?
If planned aggregate expenditure (PAE) in an economy equals 2,000 + 0.48Y and potential output (Y*) equals 4,000, then this economy.
they both can earn 10$ an hour they both have non-labor income of 300$ per week and they have 110 hours per week of non sleeping time. Who would works the most hours also how much do each of them make per week
Identify three types of competition that most firms encounter other than competition from other firms in their industry in their home country.
Elucidate how principles of economics affect decision-making, interaction and workings of economy as a whole.
Bud has very limited store space and has decided to limit his product line to one brand of beer, choosing to forego the snack food lines that normally accompany his business.
Assume the interest rate is 5.75 %. how much do you have to deposit each year make sure that 8,000 can be withdrawn for the 4 years?
Illustrate what is Fast Food's elasticity of demand. What does elastic, inelastic, or neither tell us about the elasticity of demand.
Illustrate what price do you think this firm should charge if it wants to maximize its short-run profit.
Describe economics and Describe the economic perspective, including definitions of scarcity, opportunity cost, purposeful behavior.
Why the short-run demand for gasoline is less elastic than the long-run demand, when the price of gasoline rises, people immediately cut back on unnecessary trips.
Illustrate what do the nominal interest rate also the real interest rate that Whitney can earn. Whitney puts money in a savings account at her bank earning.
Illustrate what risks do you face. Upon inquiry at your bank, you find that the forward price for a September contract to buy dollars is 10SKr per dollar. How might you hedge your exchange-rate risk for the first year.
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