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Although bats are not known for their eyesight, they are able to locate prey (mainly insects) by emitting high-pitched sounds and listening for echoes. A paper appearing in Animal Behaviour ("The Echolocation of Flying Insects by Bats" [1960]: 141-154) gave the following distances (in centimeters) at which a bat ?rst detected a nearby insect: 62 23 27 56 52 34 42 40 68 45 83
a. Compute the sample mean distance at which the bat ?rst detects an insect.
b. Compute the sample variance and standard deviation for this data set. Interpret these values.
Suppose you purchased 5 apples and 3 oranges last week. Apples cost $0.75 per apple, and oranges were $1.00 per orange. How much did you spend on fruit?
How does the fact that many goods are nontrade affect the extent of possible gains from trade? Extend your discussion from question 7 to explain this observation.
Calculate the price elasticity of demand for Einstein's Bagels and explain what it means and derive an expression for the (inverse) demand curve for Einsteins's Bagels.
This reading finishes the book Nobodies. Author John Bowe finishes his examination of Saipan and the Northern Mariana Islands with an extended look at some aspects of the island realities; then in a concluding chapter he meditates on on what it all ..
Suppose the demand curve for a monopolist is QD = 250. - .25P,and the marginal revenue function is MR = 1000 - 8Q.The monopolist has a constant marginal and average total cost of $45 per unit. Find the monopolist's profit-maximizing price.
If the federal government were to run a budget deficit, this would:
Describe the innovation life cycle proposed by Abernathy and Utter back. Does the model provide a useful tool to guide and manage the innovation process? Do you see any weak points in the model?
Distinguish between net investment and gross investment. How important is the rate of interest in affecting the decision to invest in a project?
Draw the market supply and demand curves. What are the efficient price and efficient quantity and show on your graph consumer surplus and producer surplus and calculate the values of consumer surplus and producer surplus.
Nicholas lives in a dormitory that offers soft drinks (X) and chips (Y) for sale in vending machines. His utility function is U(X,Y) = XY. Soft drinks cost $1 and chips cost 50¢.
A manufacturer is considering changing its process to reduce pollution emissions. The current process has an annual operating cost of $850,000 and an annual waste disposal cost of $150,000. The new process will have an annual operating cost of $700,0..
Each year, public schools are rewarded with bigger budgets for achieving a rating of “excellent” or “recommended” and are punished for rating “needs improvement.”
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