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You are given an array A of length n. Each value is 1. However, you do not know what the value of n is. You are allowed to access an element i of the array by calling A[i]. If i < n, this will return 1, and if i ≥ n, this will return a message saying that the location does not exist (you can think of this as an error message, but it will not crash your program). Describe an O(log n) algorithm to determine the value of n. (Hint: think binary search, but in reverse.)
Discuss how accounting costs and economic costs differ. Illustrate how total profits change as output expands. Describe how the profit-maximizing rate of output is found.
All of the following can cause conflict between divisions EXCEPT
Suppose that you are on a desert island and possess exactly 20 coconuts. Your neighbour, Friday, is a fisherman, and is willing to trade 2 fish for every coconut that you are willing to give him. Another neighbor, Kwame, is also a fisherman, and he i..
One of the most important concepts discussed in the text is the moral hazard problem. Even though this problem cannot be eliminated completely, it can be reduced through various actions such as the Basel Agreements. I have figured students find moral..
An airplane crashes as the result of a non-negligent defect in an instrument supplied by A. The airplane was manufactured by B from various components, including the instrument from A, and is operated by C, an airline. What economic difference does i..
q1. explain how it is possible for one of two people in a two-good economy to have an absolute advantage in producing
Price Quantity Demanded $200 1000 $150 1400 $100 1800 Suppose that the Tennessee Titans' owner, Bud Adams, is considering a plan in which fans who donate blood get a $20 reduction in their ticket price. If both ticket REVENUES and blood donations (i...
(1) Read Wing Thye Woo "The Art of Economic Development: Markets, Politics and Externalities", and answer the following questions:
The revenue for a new product that will stay in market for five years is projected at $45,000 in year 1, and the revenue is expected to reduce by $5,000 per year. What is the present value of the projected revenue stream if the interest rate is 8% pe..
Suppose one insurance company decided to charge teenagers and adults the same premium based in the average risk of an accident among both groups.
When dealing with present value, a lower interest rate:
Reflect on the sovereign debt crisis in Greece. Why is it causing so much disagreement among Euro Zone countries? What role has the International Monetary Fund played in the situation?
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