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Give an example of useful Chi-Square Goodness-of-Fit Test. What problems might there be in getting the data for the test? How would you deal with the problems?
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The inverse demand curve for widgets is P = 130−2Q. There are two firms, A and B, who produce widgets. Each firm has a constant marginal and average cost of producing the good that equals 10. Write down the profit function of each firm. Suppose there..
What is the output of each firm if they collude to produce the monopoly output. What profit does each firm earn with such collusion.
A credit card company wants your business. If you accept their offer and use their card, they will deposit 1% of your monetary transactions into a savings account that will earn a guaranteed 5% per year. If your annual transactions total an average o..
they pay 20 cents to the Lord High Mayor of Rabushka. What is the marginal tax rate in Rabushka for a worker whose income is $1 million?
Price elasticity of demand is just a number. Economists may not necessarily be interested in the size of this number, but whether its absolute value is greater than, less than or equal to one. Comment on this statement. Explain whether commodities th..
One of your friends uses the terms ethics and morality interchangeably. You do not think this is correct. How would you explain the difference between ethics and morality? Provide an example of morality and one of ethics in your explanation.
Is Vegetarianism Healthier than No vegetarianism? An Evaluation Argument Looking Skeptically at Vegetarianism Here, Writer 3 uses portions of the same article to make an opposite case from that of Writer 2. She focuses on those parts of the article t..
Assess the role of the Federal Reserve in mitigating the negative impact of the 2008 financial meltdown on the economy.
Reverse Innovation is the strategy of innovating in emerging (or developing) markets and then selling these innovations in developed markets.
The monetary base is $100bn, currency is $25bn and reserves $100bn. suppose that money supply (M1) is $200bn. What is the money multiplier? What is the currency deposit ratio? What is the reserve deposit ratio? If the currency deposit ratio increases..
You have just purchased a municipal bond with a $10,000 par value for $9,500. You purchased it immediately after the previous owner received a semiannual interest payment. The bond rate is 6.6% per year payable semiannually. You plan to hold the bond..
Sales plays an important role in allowing a business to maintain long-term relationships with customers. Sales force structures can be critical in allowing companies to distribute their products to their customers effectively. Typical sales force str..
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