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A firm conducted a research about the demographics of their customers. For the study they collected data about the following variables: gender, marital status, credit rating (low, medium, high), annual income, and age. Label each variable as (a) qualitative or quantitative, (b) discrete or continuous, and (c) nominal, ordinal, interval, or ratio.
Suppose you are to specify a short-run total variable cost function for a nursing home. Explain the variables you would include in the function.
What factors would cause a firm to decide to buy intermediate products needed for production of its final goods or services?
New York, had a serious ice storm. Electric power was out in houses for many days. The demand for power generators rise dramatically, Yet the local businessmen did not increase their prices.
1 good reason why quantity demanded increases when its price falls is that the: a. lower price shifts the supply curve to the left b. lower price shifts the demand curve to the left c. lower price shifts the demand curve to the right d. lower price e..
An industry with twenty companies but the CR = 80 percent is called "high concentration", for a concentration ratio of 80 to 100% is viewed as high concentration.
Bob is the company's best hourly worker, but his boss knows that Bob wishes to spend more time with his kids at home. Bob's boss gives Bob a huge increase in his hourly pay hoping to entice him to work more hours.
Which of following is necessarily true regarding total utility (TU) and marginal utility (MU)?Newspaper vending machines are often built so that customers can pay to lift a door and take a paper off a pile of daily newspapers. Newspaper distributor..
Use the arc-approximation formula to calculate the price-elasticity of demand coefficient of a firm's product demand between the (quantity,price) points of (50, $10) and (54, $8).
What is kenyas factor of production for their land and labor. which means what percentage do they use their land for what.
Which input bundle represents efficient production of 100 units of output if the rental paid to capital is $25 and the wage paid to labor is $50? Round any decimals to the nearest hundredth. Derive the firm's cost function using the rental an..
who file a lawsuit on behalf of the government if they believe that a company has somehow defrauded the government Securities and Exchange Commission Occupational Safety and Health Administration False Claims Act corporate philanthropy social audi..
Globalization is becoming very important in economic discussions. While some politicians favor protectionist policies because they feel these policies protect domestic producers, others claim free trade increases economic activity and has advantag..
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