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In 2008 the Better Business Bureau settled 75% of complaints they received (USA Today, March 2, 2009). Suppose you have been hired by the Better Business Bureau to investigate the complaints they received this year involving new car dealers. You plan to select a sample of new car dealer complaints to estimate the proportion of complaints the Better Business Bureau is able to settle. Assume the population proportion of complaints settled for new car dealers is .75, the same as the overall proportion of complaints settled in 2008.
In what kind of market structure does the firm sell its output? How can you tell In what kind of market structure does the firm rent robots How can you tell Calculate the marginal product and the value of the marginal product for each additional robo..
a. Fill in the column of marginal products. What patent do you see? How might you explain it? b. A worker costs $100 that day, and the firm has fixed cost of $200. Use this information to fill in the column the total cost. c. Fill in the column for a..
List three financial, two operating and two other indications that Olzewski might have found that show Cerberus may have going concern problems.
Suppose that every driver faces 1% probability of an automobile accident every year. An accident will, on average, cost each driver $10,000. Suppose there are two types of individuals: those with $60,000 in the bank and those with $5,000 in the ba..
cool-aire corporation manufacturers a line of room air conditioners. Its break even sales level is 33,000 units. Sales are approximately normally distributed. Expected sales next year are 40,000 units with a standard deviation of 4,000 units
With a world population in 2003 of 6.314 billion and a projected population growth rate of 1.1% instead (which is the United Nations' projection for the period 2003 to 2015). Compute the doubling time. State the year in which the world's population..
You employ five workers and deciding whether to hire an additional help. MPL of new hire is expected to be 500 units per week. The market wage rate for the skill you are looking for is $1200 per week.
Production of widgets (W) uses labor (L) as its only input. The production function is given by W=F(L)=8*L^.5 and the marginal productivity MPL=4/L^.5. If widgets sell for $10, the price of labor is $8/hour, and there is a fixed cost of $25
The demand function for VCRs has been estimated to be Q_v=134-1.07P_t+46P_m-2.1P_v-5M , where Q_v is the quantity of VCRs, P_t is the price of a videocassette, P_m is the price of a movie, P_v is the price of a VCR, and M is income.
You are a manager of a firm with a following demand and cost functions in a perfectly competitive market. The price in your market is $35. Your total cost curve is: TC = 10 + 2Q + 0.5Q^2
What is Sam's compensating variation for the proposed policy? Can you compute it without knowing his preferences? Why or why not?
The plant has a capacity output of 200,000 calculators per year, and the plant's manager regards 75 percent of capacity as the normal or standard output. The projected total variable costs for the normal or standard level.
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