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Define and give an example of zero-sum games and non-zero sum games (cooperative and non-cooperative)
Time for a lump sum to double If you deposit money today in an account that pays 5.5% annual interest, how long will it take to double your money?
Formulate the following problem as an integer program: A set of n items are to be repaired in a factory. Item i takes time t_i to repair and requires W_i workers working continuously. It arrives at time a_i and it must be finished by time d_i. The pr..
Who benefits from inflation? Who is hurt from inflation? What is hyperinflation? How to control inflation? What is GDP pe person? Provide an example of purchasing power parity
You are the manager of a firm that receives revenues of $175,000 per year from product X and $50,000 per year from product Y . Both products have similar production costs. The own price elasticity of demand for product X is -1.5, and the cross-price ..
In this island economy, the (a) Orange Grove Owner likes only bananas and the (b) Banana Grower only likes Chocolate. Furthermore, the (c) Chocolate Maker only likes Oranges. Explain how trade between these three producers can occur. Will the Orange ..
What level of unemployment to you constitutes a level of “full employment?” How do you think the general public might misinterpret this term as reported in the media?
For each of the following variables indicate the level of data measurement:
A random sample of 10 observations is selected from a normal population. The sample mean was 12 and the sample standard deviation 4.3.
For each scenario, assess whether an externality is present.
1. Define organizational communication. 2. What interesting about the subject of organizational communication.
How can we use the price elasticity of demand to predict the effect of taxes? How does a minimum price (floor price) affect the market? Explain the equimarginal principle. How do indivisible inputs affect production costs?
What is the implication of the diminishing returns to physical capital for economic growth of different countries over time?
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