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Americans aged 18 to 29 years send an average of 88 text messages a day. Suppose that the number of text messages you send per day follows a Poisson distribution with mean 88. What is the probability that over a seek you would send more than 650 text messages? Write the exact percentage change using Excel.
If these events occour siimutaneously, the price of a substitute good (in consumption) increases; the price of inputs used to produce the good increases.
In a competitive market, if prices are held below market equilibrium by government controls, what will be the effect on output?
Manufacturers in the US want China to increase the value of the yuan. They say China undervalues their currency making their products cheap, thus undercutting American business. Some believe that this is why Americans are losing jobs. Discuss whether..
The bonds may be purchased now for $1000. The income from corporation bonds must be included in federal taxable income.
If a drop in the price of smartphones from $160 to $120 increases the quantity sold from 6,000,000 to 9,000,000 demand is price inelastic. In the presence of a positive externality, a competitive market produces too little of the good. Because life i..
Their government seeks counsel on the wisdom of a relative emphasis on health and health investment versus other forms of economic investment.
Detail the fundamental reasons for financial regulation as discussed in class and in the text. As part of this discussion, provide an analysis of the potential conflicts between a policy of promoting competition and a policy of reducing the chance of..
Randomly choose 1000 people in Atlanta and collect their age, wage, and annual income in each year from 2000 to 2010, what kind of data we collect?
At its current level of production, a profit-maximizing firm in a competitive market receives $12.50 for each unit it produces and faces an average total cost of $10. At the market price of $12.50 per unit, the firm's marginal cost curve crosses the ..
The profit-maximizing firm is operating in a perfectly competitive market where the market price is $100 and the marginal cost curve is determined by the equation MC = 20 + 10Q. What is the output for the firm?
The city of Springville is building a new fire station. The city is expanding and is in need of a second fire station closer to the newer areas of the city to ensure shorter response times. The project manager and the project team have been selected ..
Economic justice is another highly important ethical issue. In the United States, over 46 million people live in poverty.
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