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Tennis-Warehouse recently conducted a study of long distance phone calls made by its employees. The study showed that the length of the calls has a mean of 3.2 minutes, a standard deviation of 0.50 minutes and it follows the normal probability distribution.
(a) What portion of the calls was between 3.2 and 4 minutes?
(b) What portion of the calls was more than 4 minutes?
(c) What portion of the calls was between 4 and 4.5 minutes?
(d) What portion of the calls was between 3 and 4.5 minutes?
Suppose three identical firms are engaged in Cournot competition in quantities. They all have marginal costs equal to 40. Market demand is given by: P(X) = 200 - X = 200 - (x
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Danny is an investment banker and has income I = 300. When prices are px = 10 and py = 20, Danny consumes the bundle (x; y) = (6; 12). 1. Illustrate Danny's budget constraint
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