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Class Frequency
0-4 5
5-9 6
10-14 12
15-19 10
20-24 7
Consider the frequency distribution shown
Calculate the sample mean
Calculate the sample variance and sample standard deviation
With the help of a diagram, discuss the effect of price ceiling imposed by the government on the welfare to the society (consumers' and producers' surplus) If the ceiling price were set below the equilibrium price.
Evaluate the following statements using a graphical analysis. Provide a brief narrative explanation of your graph to support your evaluation. Make sure axes and curves in your graph are properly labeled. "When demand for s home heating oil increases,..
In market economics, firms rarely worry about the availability of inputs to produce their products, whereas in command economies input availability is a constant concern. Why the difference.
Name two advantages of the behavioral model.
q.suppose there is a business firm that holds a global monopoly on a particular product but is currently selling the
Suppose apples also oranges are substitute. Presume apple growers launch a very successful advertising campaign that convinces consumers apples are a better product.
Assume a firm produces 500 units of a good by using two inputs, capital and labor, whose per unit prices are $10 and $4. Assume also that the marginal physical product of the last unit of capital is 30 and the marginal physical product of the last un..
With the understanding of fixed and variable costs and what those mean to a business in both the short run and the long run, address the following questions in your analysis: Why does it makes sense for an airline to offer discounted fares to student..
Using a supply-demand diagram, show a labor market with a binding minimum wage. Now, use the diagram to show those who are helped by the minimum wage, and those who are hurt by the minimum wage.
Discuss the effects of the change on the value of the currency and the country's balance of payments, using historical and current circumstances.
Mirk Labs is a pharmaceutical company that currently enjoys a patent monopoly in Europe, Canada, and the United States on Zatab, an allergy medication. The global demand for Zatab is: Qd = 15.0, 0.2P where Qd is annual quantity demanded (in millions..
Suppose the supply curve for a good shifts rightward, causing th equilibrium price to decrease. The decrease in the price of the good results in:
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