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Out of 140 randomly selected kindergartners who were surveyed, 32 said that pancakes are their favorite breakfast food. Construct and interpret a 90% confidence interval for the percentage of all kindergartners who say pancakes are their favorite breakfast food.
What is a one invention that had good impact on the international economy and why. What were the impacts of this invention were impact good or bad.
What is the optimal price each firm should charge
Since 1900 real income has increased tremendously, yet the average number of children per family has decreased. Consider the following possible explanations and illustrate in terms of indifference curves and budget constraints of families between the..
If a monopolist can represent the demand of its product as Q = 100 - P and its marginal revenue from sales as MR = 100 - 2Q, where Q is the quantity of production and sales and P is a uniform price charged to each customer, and has a constant margina..
In class we built a Production Possibility Frontier (PPF) where each sector exhibits constant returns to scale technology and where sectors use deferent capital-labor ratio. Suppose now that both sectors exhibit increasing returns to scale.
Some argue that the price elasticity of demand can be used to determine whether a good or service is a luxury or a necessity.
If pollution is associated with the production of some good, then. The natural rate of unemployment is:
Let's assume production is given by Yt=AK^(1/3)L^(2/3). Capital stock has reached its steady state at K= 1000 and A= 3/2. Assume there are no frictions/rigidities unless otherwise stated. What does our long-run model say the level of unemployment (U..
What would be the effective rate of protection on bicycles in China if China places a 50 percent tariff on bicycles, which have a world price of $200, and no tariff on bike components, which together have a world price of $100?
Subway charges a higher price for the 6-inch Veggie Delight Sandwich sub in New York City than it does in a small town in Iowa. Consumers collected coupons from free newspapers and magazines and take to the store to save money on products.
Elucidate why a system of marketable pollution permits leads to less costly pollution abatement and a highter concentration of polluted areas than a command-and-control system.
Identify which of the following are extent decisions. Decide whether to expand an existing product into a new region. George’s T-Shirt shop products 5,000 custom-printed T-shirts per month. George’s fixed costs are $15,000 per month. The marginal co..
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