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Demand in the sugar market is given by Qd = 30 - p. The supply in this market is given by Qs = 2P. P is measured in kronor and Q in kg.
a) Illustrate the market equilibrium in a diagram! What will be the equilibrium price and equilibrium quantity?
Suppose Sweden wants to follow Norway's example and introduce a tax on sugar, which will be paid by the producer. The tax is a unit tax of t = SEK 1.5 / kg.
b) Illustrate in a supply and demand diagram, calculate and explain in detail in text what the welfare effects the introduction of the tax will have.
c) Explain the concept of tax incidence and link it to your results!
d) The appearance of supply and demand curves affects the magnitude of the effects in b), explain how!
In publishing the results of some research work, the following values of the correlation coefficient were listed. Which one would appear to be incorrect?
Give a point estimate for the mean weight of the population and the standard deviation of the estimate.
When sampling is from a population with standard deviation µ = 55, using a sample of size n = 150, what is the probability that will be at least 8 units away from the population mean µ?
For 2000 patients,blood-clotting time was normally distributed with a mean of 8 seconds and a standard deviation of 3 seconds.what percent was blood-clotting times between 5 and 11 seconds?
Based on this information, should she buy the policy with the deductible or not? How does the value of her car influence this decision?
In a two-tail test at the 0.05 level of significance, can we conclude that the percentage who prefer electric heating may differ from 65%? Determine and interpret the p-value for the test.
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A standard deviation of 20. If the seller wishes to have adequate stock 95% of the time, how many of the games must she keep on hand.
a roulette wheel has 38 slots 18 of which are black 18 are red and 2 are green. each time the roulette wheel is spun
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