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A doctor gives a patient a 60?% chance of surviving bypass surgery after a heart attack. If the patient survives the? surgery, then the patient has a 20?% chance that the heart damage will heal. Find the probability that the patient survives the surgery and the heart damage heals.
The market for beer is perfectly competitive. The price of a barrel of beer is $40. Fine beers is a company that produces the beer and has a total cost funtion of TC = 480 + Q2. It also has a marginal cost given by MC = 2Q, where Q is barrels of beer..
What are the advantages of buying a business rather than starting one from scratch? What are the advantages and disadvantages of owning a franchise?
Provide an example to discuss how special interests can succeed in perpetuating policies that are opposed by the majority of voters because the costs of organizing and motivating groups to take political action increase with group's size.
According to the Bureau of Economic Analysis, during the recession of 2007-2009 household saving as a fraction of disposable personal income increased from a low of just over 1 percent in the first quarter of 2008 to 5 percent in the second quarter o..
Make sure to make available examples of real world to strengthen your position of wherever this might be case
Research and write a 2-3 page paper on the economic impact of globalization on the US the labor market (such as jobs, demand, supply, efficiency, productivity e.t.c). Critically analyze. Support your analysis with body of knowledge.
Of all natural resources, water is the most essential. It supports vital processes of value to mankind such as food production
Trade/Opportunity Cost: Pat and Kris are roommates. Outside of the time they spend studying, they spend time doing some of their favorite activities: making pizza and brewing root beer. What is each roommate’s opportunity cost of making a pizza? Who ..
President-elect Donald Trump has proposed several economic policies. On spending, Mr. Trump intends to modernize the U.S. infrastructure, including the transportation system and education facilities, and to strengthen the military. Are these economic..
A number macroeconomic variables decline during recessions. One of these variables is the GDP. Empirical studies indicate that the long-run trend in real GDP of the USA has an upward trend. How is this possible given business cycles and macroeconomic..
Tad’s bait shop has a monopoly in the bait market at Sanderson’s Lake. Demand for bait is given by Q = 56 – 8P. Tad’s marginal cost function is MC = 0.25Q. Find Tad’s optimal choice of output and price. Find the level of consumer surplus that accompa..
Discuss the definition of and causes of recession and depression, including factors such as inflation, tax rates, interest rates, unemployment
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