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In your opinion, can we generalize this 70% reduction in the width of the confidence interval to all cases and situations? In other words, is it always the case that doubling the sample size would cause a 70% reduction in the width of the resulting confidence interval? For example if we increase the sample size from 500 to 1000 in another situation where and are different values compared to those in this example, should we still expect a 70% reduction in the width of the resulting confidence interval?
Suppose bad weather decreases the wheat harvest by 12 percent. If the price elasticity of demand for wheat is 0.6 in absolute terms, how would the crop failure affect the price of wheat? Would the crop decrease benefit or harm wheat farmers?
Explain what you would rather maximize, your total or marginal utility. Analyze how you would focus on your utility in making consumption decisions.
What is the real sector of the economy, what are the associated parity conditions, and how are they different from each other? Which one tends to hold the best? Explain why.
Briefly describe the two main layout types. Provide the main advantages and disadvantages of both types.
Explain why a firm needs through knowledge of ATC, AVC and MC.2) explain the basic features of various market structure, what is the product differentiation? 3)how is it that in a perfectly competitive market long run economic profit is zero?
Brad will graduate next year. When he begins working, he plans to deposit $3,500 at the end of each year into a retirement account that pays 5% interest. How much will be in his account after 40 deposits?
The income elasticity of rice in India is estimated to be -0.247. What does the model of supply and demand predict if incomes in India rise?
Please explain your reasoning using economic data that our economy is experiencing from the Bureau of labor and Statistics.
Illustrate what factors may influence a household when deciding between buying stocks, bonds, or a house.
Suppose that the current (first) generation consists of 2 million people, half of whom are women. Assume the total fertility rate is 1.2 and the only way people die is of old age. Instructions: How big will the fourth generation (the great-grandchild..
Describe the top ten communication skills that business leaders seek citing any references used other than the textbook.. Of those, list two of which you feel you have a strong grasp and two that you feel you need to improve.
Explain economic theory of cost including fixed cost, variable cost, marginal cost and total cost with an airline application?
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