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Because high production-changeover time and costs, a director of manufacturing must convince management that a proposed manufacturing method reduces costs before the new method can be implemented. The current production method operates with a mean cost of $220 per hour. A research study will measure the cost of the new method over a sample production period.
a. Develop the null and alternative hypothesis most appropriated for this study.
b. Comment on the conclusion when H0 cannot be rejected.
c. Comment on the conclusion when H0 can be rejected.
Econ 522 - Economics of Law - Calculate the consumer's demand, and his utility, in the absence of government intervention - How much revenue does the government raise with this tax?
If television sets are sold in a perfectly competitive market, calculate the annual number sold. Under what consiquences will the market equilibrium be efficient.
Suppose Apple has a monopoly on iPhones and Verizon has a monopoly on data plans. An iPhone without a data plan is worthless, and a data plan without an iPhone is worthless. Thus there is no such thing as a demand for iPhones or a demand for data pla..
Who pays the tax: Graphical model with interpretation? Then the mathematical model solution with interpretation: compare P1 with P2 with P1 + tax
Price outcomes of the 5 oligopoly models differ substantially. Which models produces the lowest and highest total profits (all firms combined)? What are the predicted prices? Provide aviation industry examples of routes or markets that might approx..
Suppose that there are only two goods, books and coffee. Wally gets utility from both books and coffee, but his indifference curves between them are concave rather than convex to the origin. What do these particular indifference curves tell you about..
Discuss a time when you have had to deal with a sensitive and/or a negative message like working in retail. What would you do differently in light of the material covered in this module? If you would do nothing differently, describe how your handling..
Philip's quasilinear utility function is U=4q1^0.5 + q2. His budget for these goods is y=10. Originally the prices are p1=p2=1. However, the price of the first good rises to p1=2. discuss the substitution, income, and total effect on demand for q1.
Recent concerns about global warming have lead firms to expect a higher depreciation of their capital in the future and households to expect lower levels of future income. Explain, with the help of a graph, what happens to a firm’s desired level of f..
Calculate the equilibrium level of income or real GDP for this economy. b. What happens to equilibrium Y if I changes to 10? What does this outcome reveal about the size of the multiplier?
explain how the short-run phillips curve the long-run phillips curve the short-run aggregate supply curve the long-run
Consider the following distribution of income in a 12 person economy, with the modern urban wage=3, the traditional rural income=1 and the informal urban wage = 2: (1,2,3,1,2,3,1,2,31,2,1). the poverty line is at 1.3. What is the level of absolute po..
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