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In order to rule on a potential federal grant, a government official must confirm that the average income in a Pennsylvania county is less than $12,500. A sample of 35 individuals is taken and shows a sample mean of $10,950 and a sample standard deviation of $3,972. Conduct the test at a 5% level of significance. What is your conclusion?
The graph shown demonstrates a tax on sellers. Which of the following can be said about the effect of this tax?
Republicans running for national office often run on a platform of lowering the income tax rate. They argue an income tax reduction is needed to spur employment and economic growth.
Assume a perfectly competitive firm is producing a level of output at which MR
For the United States, empirical studies indicate that over the past two decades the cost of international transportation relative to the value of U.S. imports has: Should international transportation costs decrease, the effect on international trade..
Suppose you read in an industry publication that the Rothschild index for the petroleum industry is 0.88. Based on past experience, you know that the price elasticity of demand for the petroleum products sold by your firm is ?1.5.
Offering group medical coverage to large firms and requiring all employees to participate in the coverage.
If industries collude, Illustrate what will be monopoly cost (optimal cost P*), total output of two industries (Q= q1 + q2) and total profits of two industries.
Clearvoice, a wireless telephone monopolist has 100 consumers, each of whom has a monthly demand curve for wireless minutes of Q=300-100P where P is the per-minute price in dollars. The marginal cost of providing wireless service is $0.30 per minute..
The central bank lowers discount to rise the nation's monetary base. The country has highly mobile international capital markets and a fixed exchange value system.
Compute the industry o/p also marketplace share at the present price of $2,200, assuming the prices are stable also un such as to change.
Probabilities of A and B performing successfully for 1,500 times are .96 and .92, respectively, and are independent. What is probability that product will operate properly 1,500 or more times.
Illustrate what real world data would you want to examine. What would you consider to be evidence of tit-for-tat pricing.
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