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In the final round of a TV game show, contestants have a chance to increase their current winnings of $1 million to $2 million. If they are wrong, their prize is decreased to $500,000. A contestant thinks his guess will be right 50% of the time. Should he play? What is the lowest probability of a correct guess that would make playing profitable?
Customary pricing is: a pricing method where the price the seller quotes includes all transportation costs. setting the same price for similar customers who buy the same product and quantities under the same conditions. deliberately selling a product..
Which of the following is NOT an alternative rule for monetary policy?
The company wants to replace office equipment like machines and computer at assorted times over the five year planning period.
hink about how you can check whether marginal benefit equals marginal cost for each of your household’s activities. Are your household’s resources allocated fairly? Think about the two ideas of fairness and how they apply in your household. By what m..
competitive equilibrium, monopolists profit maximizing price and level of output, why are monopolies illegal from an economic point of view
Demand for a good is elastic if quantity demanded ________________ in response to a price change. a. changes very little b. changes significantly c. stays the same d. changes either very little or substantially
Elucidate the concept of the multiplier, and explain the role of the marginal propensity to consume in determining the size of the multiplier.
The board of a company has to elect a new CEO. Three members are on the board, 1,2,3. After a first round of selection, three candidates are left: α, β and γ. Preferences are as followed: Consider the game when all weakly or strictly dominated strate..
Do you think the net effects of trade blocs are good or bad for world trade? Why? How do the efforts of the WTO relate to these trade blocs.
Why did people believe the difficulties Aisian economies were expericing in 1997-1998
What are the most difficult aspects of the Coase Theorem in solving a problem like spread of a dangerous flu by those who are not vaccinated against it? Assume the vaccine is 99.9% effective.
Suppose El Centro California decides to tackle the problem of nitrates in the water. Nitrates are compounds derived from synthetic fertilizers that are not assimilated by plants and leached out into the underground water and affect the human health. ..
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