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The standard deviation of win percentage for the 32 teams in the NBA in 2005-2006 was .134; the NBA plays 82 game season. The standard deviation of win percentage for the 32 teams in the English Premier League in 2005-2006 was .158; the EPL plays a 38 game season. Compute the idealized win percentages for the Nba and the EPL. Which league has more competitive balance?
Analyze how taxes can make markets fail to achieve economic efficiency and illustrate with your own examples. Discuss why the government must force market equilibrium.
Draw the Circular Flow Model of a simple economy with the roles of firms, Households, Government and a foreign sector. In addition, identify the factor and product markets in this economy.
A firm that emerges as the only seller in an industry with economies of scale is a(n): The profit maximizing rule MR = MC applies to: Suppose that the total cost curve for a firm is given by the equation TC = a + bQ, where 'a' and 'b' are positive nu..
If countries are first ranked by level or real GDP per capita, and then by the value of the Human Development Index, would you expect the ranking of countries to be similar or different? Explain
The owner of a fast-food restaurant estimates that she can produce and sell 1,000 additional hamburgers per day by renting more automated equipment at a cost of $100 per day.
First, what does GDP measure? Even if we prefect the measure by correcting for price increaase, what does GDP really tell us? Is GDP a measure of the nation's economic health?
A pump cost $29,238 when it was purchased. The cost to operate the pump were $500 the first year and increased $50 per year for each of the next 10 years of the life of the pump. The pump has a salvage value of $5675 today, at the end of its 10 year ..
Select a recommendation from the two creative solutions - Explain why the solution would help the middle-income customer. Provide credible sources to support your decision.
suppose that in the year 2000 a typical social security recipient consumed only food and housing. the price of housing
choose and research a specific business that is publicly traded where there has been a pattern of change in a
Explain this relationship using at least two examples that incorporates all three concepts and explain how Demand, Elasticity, and Total Revenue are all related to each other
Assume that you are leaving a message in a time capsule to be opened 100 years from now. Formulate a message you leave regarding the economic times of your lifetime and what could have been done to make our economy better.
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