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The heights of South African men are normally distributed with a mean of 69 inches and a standard deviation of 4 inches. What is the probability that a randomly selected South African man is taller than 72 inches? If a random sample of three South African men were selected at random, what is the probability that the sample mean height is greater than 72 inches? How do you do this two-part question?
Assume an industry is a duopoly. Elucidate the best response functions for A and B.
Derive an expression for average cost. Derive an expression for marginal costs. Is there any range of production characterized by scale of economies. Elucidate what production level are scale economies exhausted.
What is the impact on the long run adjustment due to this condition. First, look at the impact of the market and then the single firm. What does it do to economic profits or losses, then what happens in the market.
Describe each alternative`s break even pontin unit. At what volume of output would the two alternative yield the same profit.
Illustrate what established the permanent membership number in the House of Representatives.
Given the difficulties which the regulation of public utilities faces that would it not is better to nationalize public utilities as several European countries have done.
Which of graphs below shows Y increasing at a decreasing rate. Which of following issues is related to microeconomics rather than macroeconomics.
Estimate and explain how the electrical monopolist would determine its profit-maximizing price and output level.
What can be said about the estimated slope coefficient for a regression of Y on X, versus the estimated slope coefficient for a regression of X on Y.
Illustrate what would happen to the profit maximizing level of output if the market price suddenly rose to $54 per case. Explain why the output level changes.
The time series Xt is generated through the ARIMA model. Where B is the back-shift operator, and at is white noise.
The difference between the cost to produce the CDs and the price you paid for them spending $30 on two new CDs spending $30 on dinner and a movie with your friends.
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