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Big Orange Trucking is designing an information system for use in "in-cab" communications. It must summarize data from eight sites throughout a region to describe typical conditions. Compute an appropriate measure of central location for the variables wind direction, temperature, and pavement.
In terms of preferences, what is the condition for the efficient distribution of goods? Explain why if all consumers face the same price for all goods, then we have efficiency (this takes a few steps of logic). Include a graph of a consumer maximizin..
q.the manager of the aerospace division of general aeronautics has estimated the price it can charge for providing
What are the costs and benefits of achieving price stability relative to output stability?
If the demand for a product is unit-elastic, a 25 percent increase in its price will result in: a. no change in quantity demanded. b. a 25 percent decrease in quantity demanded. c. a 25 percent change in total revenue. d. a 100 percent change in quan..
Consider a small open economy in the short run where the government decreases the tax rate. What direction (+/-/or no change) does the tax decrease impact: Y, Money Demand, r, e, and C. You own a hat company which sells both domestically and abroad. ..
The ultimate result of this one-shot, simultaneous-move game depends upon the choices made by both competitors.
Plywood is used in the construction of houses. If the price of plywood rises, what happens to the supply of houses?
Suppose that one day the personal printer is introduced into S land from another city and made readily available for purchase by households. Explain the effects of the personal printer on (a) the market area of Winkos and (b) the population of the..
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..
The per-unit cost of the production is mc = 10. Our conclusion is that if we have only one two-part tariff scheme (f,p), it is the best for the monopoly to set f = 800 and p = mc = 10. What’s the necessary conditions that consumer 1 wants to particip..
Sony, Inc. estimated the demand for its personal computers and computed these point elasticities: own price elasticity=5(in absolute value), cross price elasticity with software= -4, income elasticity 2.5, cross price elasticity with Toshiba laptops=..
A bidders' value for a good may be low ($2), medium ($5), or high ($7). There are an equal number of potential bidders having each value. Suppose two bidders show up for an auction at which the good is offered. The possible outcomes of the auction ar..
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