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Suppose that the miles-per-gallon (mpg) rating of passenger cars is a normally distributed random variable with a mean and a standard deviation of 31.9 and 3.4 mpg, respectively.
a. If two passenger cars are randomly selected, what is the probability that all of the passenger cars get more than 34 mpg?
b. What is the probability that a randomly selected passenger car gets more than 34 mpg?
College students sometimes work as summer interns for private firms or for the government. Many of these positions pay very little or nothing.what is the opportunity cost of taking such a job.
The Aggregate Demand for goods and services in an economy must at every moment equal the value of Real Gross Domestic Product because both are defined to be the sum of (C+I+G+X-IM).
Employ the following equation to demonstrate why firm producing at the output level where MR=MC will also be capable to maximize its total profit.
A small open economy produces two goods: Manufacturing (m) and Agriculture (a). Production of manufacturing uses capital (K) and labor (L) while production of agriculture uses land (T) and labor (L), i.e. capital is a factor of production specific..
I. Marginal revenue is the additional revenue from selling one more unit of output. II. A firm will always produce at an output at which marginal revenue is greater than marginal cost, except when it is minimizing its losses.
each class member shall prepare a written report concerning the performance of a company of their choice.
mutual fundsa take in deposits from savers and make direct loans to borrowers.b provide another source for borrowers to
An inflation shock is a disturbance to the usual behavior of inflation that shifts the IA line. A supply shock is a change in the natural rate of output. Graph the long and short run effects of a positive inflation shock and a negative supply shoc..
Determine the direction of comparative advantage and the limits to the relative wage rate A and B are the countries, the products are S and T and A has s=6 and T=2, and B has S=15 and T=12
joe enjoys fishing amp goes out about 20 times per year. one day sara told him that fishing is too expensive of a
Explain how each of the following will affect the demand for computers:(i) a rise in incomes,(ii) an expected drop in the price of computers,
choose two 2 public corporations in an industry with which you are familiar - one 1 that has acquired another company
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