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Over a long period of time, an electrician has established that 17% of his accounts are paid late. A friend suggests that changing the ink colour on his accounts from black to red might help encourage customers to pay more quickly. To test this idea, the electrician sends accounts printed in red ink to a random sample of 30 of his customers. Only one of these customers is late in paying their account.
Using an appropriate probability distribution, determine the probability of having no more than one late payment from 30 customers, if the late payment rate is 17%.
If a company adds up all the costs of producing an intermediate product-direct labor, materials, and overhead - to establish a transfer price, then it is using:
The country wishes to eliminate its trade deficit, but will strongly encourage financial investment from foreign firms. Explain why such a statement is contradictory
In your own words, describe the law of demand through the income and substitution effects, using a price increase as a point of departure for your discussion.
kalvin crook is contemplating a life of crime.nbsp if he commits a crime and does not get caught he stands to gain
Assignment Questions 1. What Is Economics, and Why Is It Important? 2. How Economists Use Theories and Models to Understand Economic Issues.
Absolute advantage in beef production - which country has the absolute advantage in computer production?
If a monopolist charges the same price for all of its output (i.e., it does not price discriminate), total revenue for the Örm will be TR = P(Q)Q: Show that: (a) Total revenue is maximised when prices and quantities are set so that demand elasticity ..
Explain, verbally and analytically using a 'Factor Specific' Model, why it is that owners of flexible factors are more likely to benefit form trade.
Calculate the elasticity of? demand, if the demand function is:Q=140-8p+12Yat the point where p=12 and Q=20
Implementation of Sustainability in an Organization. Evaluates and anticipates risks associated with the investment.
In what way does the law of diminishing marginal utility provide a justification for the use of progressive taxes?
Demand for some commodity equals P = 90 - 3Q, while the supply is perfectly elastic at the price P = 30.
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