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Question 1: What is artificial intelligence?
Question 2: Describe 2 types of artificial intelligence.
Question 3: Considering one of the types of artificial intelligence you described, how has a business used the technology to obtain a competitive advantage?
Question 4: Are there any other new technologies that may impact business practice? Describe and provide an example.
design two packages for the second-degree price discrimination case so that the first package has quantity 8 for the high demand and the second one has quantity 6 for the lower demand such that the low demand group has consumer surplus at least $5..
A box of chocolates is to be shared by two children. The box contains ten milk chocolates and ten plain chocolates. Neither child likes plain chocolates. Describe the Paretoecient allocations.
aisha and robin consume only food and clothing. figure 1 below depicts the consumption possibilities for these two
How would you describe the pattern of world economic growth over the past 2,000 years? Approximately when did economic growth really take off?
If consumer income decreases by 3.2%, what is the expected percent change in consumer demand (assuming there are no other changes that would affect demand for coffee - no price changes)
A monopolist sets price at $10 and sells 100 units. The corresponding marginal revenue is $5 and the marginal cost is $3. What recommendation regarding price and quantity would you give this monopolist
Gov. Expend. Tax rev. 170 90 450 170 110 550 170 130 650 170 150 750 170 170 850 Refer to the accompanying table for Waxwania. a. What is the marginal tax rate in Waxwania percent The average tax rate
elizabeth M. suburbs makes $200 a week at her summer job and spends her entire weekly income on running shoes and designer jeans, because these are the only two items that provide utility to her.
Define marginal damages as the decrease in global GDP in dollars due to increase in temperature. Suppose 10% of 12 billion tons of carbon are controlled.
(Assume that the hospital would match its rival's price in the cataract market if the rival were to respond to this bundling arrangement by cutting its cataract price.)
According to Michelman's (1967) criterion, projects can go forward if B C > min(S, D), where, recall, S are settlement costs and D are demoralization costs. Given this formula, explain why Michelman is more permissive than Pareto but less permiss..
Calculate the percent change in price that occurs in moving from point A (the "base" case) to point B, using the midpoint formula. (If directed by your instructor, also calculate this using the log-difference formula.)
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