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The density of the earth. In 1798 the English scientist Henry Cavendish measured the density of the earth by careful work with a torsion balance. The variable recorded was the density of the earth as a multiple of the density of water. Here are Cavendish's 29 measurements:23
Present these measurements graphically by either a stemplot or a histogram and explain the reason for your choice. Then brie?y discuss the main features of the distribution. In particular, what is your estimate of the density of the earth based on these measurements?
What is the difference between relative poverty and absolute poverty and How does Statscan measure each? Under what circumstances is each measure relevant? Explain.
what is the relationship between average and marginal productivity? what would happen to average and marginal
Economists who align more with the "Classical" school would have a "leave it alone" (Laissez Faire) attitude and would oppose active policymaking. "Rational Expectations Theory" (a "new classical approach") suggests that people figure out what wil..
Please help describe profit maximizing decision of pure monopolist firm and compare it to the profit maximizing decision of the firm in a purely competitive market and a monopolist firm in the competitive market.
Apply the concept of price elasticity to a purchasing decision you made within the past year. Give an example on how the elasticity of demand helped you determine whether a product or service was a luxury to have or a necessity.
What levels of G and T are needed to both move to full employment at Yf and balance the budget? Now assume economy is operating at full employment and that the budget is balanced. Suppose that the government imposes an income tax with a marginal t..
The nation of Ectenia has 20 competitive apple orchards, which sell apples at the world price of $2. The following equations describe the production function and the marginal product of labor in each orchard:
The price elasticity of demand for imported tequila is estimated to be -0.20 over a wide interval of prices. The federal government decides to raise import tariffs on foreign booze, causing the price to rise by 20%. Will tequila sales rise, fall, or ..
Presume the demand function is Q=100-P, where Q is the quantity demand and P is the price. Please compute the price elasticity at P=10 (by comparing it with a pair of price and quantity at P=20). Compute the change in total revenue which is P times Q..
Explain how the competitive labor market functioned before the buyout of the independent farms. How was the wage rate and quantity of workers employed in the market determined?
a perfect competitive firm faces a market price of 10 for its output x. it owns two plants a and b whose total costs
What is the economic meaning of the expression that "There is no such thing as a free lunch?"
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