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The response times on an online computer terminal have approximately a gamma distribution with mean four seconds and variance eight seconds2.
a Write the probability density function for the response times.
b Applet Exercise What is the probability that the response time on the terminal is less than five seconds?
The graph below shows the aggregate production function of two nations, A and B. Suppose that in 1958 each nation had $100 of physical capital for each worker and in 2008 each nation had $400 of physical capital per worker. Figure: Nations A and B..
Draw her budget line. Algebraically find out her optimal consumption bundle. What is her level of utility at the optimal consumption bundle? Indicate the optimal point on the budget line and draw a hypothetical indifference curve that is tangent to t..
A monopolist firm serves 6 consumers. Each of the consumers only buys one unit of the good. 2 consumers buy one unit if the price is lower or equal than $100 and the other 4 consumers buy one unit if the price is lower or equal than $10. The firm's c..
Should the Federal Reserve Board of Governors remain independent - What is the strongest argument on either side?
Calculate the change in consumer’s surplus, change in producer’s surplus, tax revenue, and deadweight loss as a result of the policy change. Illustrate them on a graph.
suppose that a firm has a monopoly on a good with the following demand schedulequantity price0 101 92 83 74 65 56 47 38
what is the economic market for physicians in terms of supply and demand, elasticity, costs of production, pricing, and economic or normal profit or loss?
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
Is GDP the best measure of growth?
Use the Keynesian AD-AS model to answer the following questions. Draw the effects of a recession caused by a decease in aggregate demand. For simplicity, assume that your economy starts at general equilibrium.
In the case of a natural monopoly where cost conditions lead to a sole supplier, regulation is used to ensure that, The lorenz curve cannot be used to show
complete the supply and demand simulation located on the student website.write 1050-word paper of no more than
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