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Just prior to a professional baseball spring training session, you are asked to assess the probability that a particular baseball team will win the coming World Series.
a. How would you go about making this assessment? In what sense is this assessment subjective?
b. If you knew nothing about baseball, what would be the appropriate probability assessment or distribution?
c. As an avid fan, how would you adjust this “naïve” assessment? How would your assessment change day by day as the season progressed?
Under monopoly, still with the price PW which is again label triangle of consumer surplus and the triangle of producer surplus.
Calculate the equilibrium buyers' and sellers' price with no sales tax, and then with the 20% tax. Explain how answer illustrates the principle that less responsive side of the market will pay more than half the total cost of sales tax.
Supply of Loanable Funds, e.g., your disposable and expected future income. Discuss and predict how your decisions and transactions in the loanable funds market should change.
q.south korea can produce a maximum of 600 million toaster ovens or 900 million tons of rice per year. the u.s. can
Find out the contingent demand function for labor and capital and the corresponding total cost function. Find the long-run average cost and the long-run marginal cost of both inputs.
At what price of food in terms of manufactures would A and B respectively supply food? Would trade take place between A and B in David Ricardo’s world? How many manufactures could B supply?
illustrate what obligations do we have to society at large, including the world?" really make a difference in a company's competiveness.
Do you agree or disagree with the statement that: "A monopolist always charges the highest possible price."? Explain. b.) Why can't an individual firm raise its price by reducing output or lower its price to increase sales volume in a purely competit..
Illustrate what are influence of following changes in policies on private saving and national saving. New policy: Increase in government purchases by $100 and taxes by $80. (MPC=0.7) Estimate amount of changes.
a bear that weighs 4000n gasps a vertical and slides down at constant velocity. Illustrate what is the friction force that acts on the bear.
Which of the following is true of the discount rate?
A firm will have constant profits of $100,000 per year for the next four years and the interest rate is six percent. Assuming these profits are realized at the end of each year, what is the present value these future profits?
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