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A student makes the following argument: Tariffs on imports of foreign goods into the United States will cause the foreign companies to add the amount of the tariff to the prices they charge in the United States for those goods. Instead of putting a tariff on imported goods, we should ban importing them. Banning importedgoods is better than putting tariffs on them because U.S. producers benefit from the reduced competition, and U.S. consumers don't have to pay the higher prices caused by tariffs. Briefly explain whether you agree with the student's reasoning.
Wishwell Tile Corporation uses the number of construction permits issued to help estimate demand. The company collected the following information on yearly sales and number of construction permits issued in its market area:
X and Y are two random variables. The average value of X is 40,000 and X has a standard deviation of 12,000. The average value of Y is 45,000 and the standard deviation of Y is 18,000. The correlation between X and Y is 0.80.
Develop an Excel spreadsheet that Souter can use to evaluate the economics of the two-part fee structure
Gasoline costs $0.95 per liter and will increase at 6% per year. At a fuel economy of 9km/liter, what is the present worth cost of fuel for five years of driving 30,000km per year Use 6.2% interest. What is the equivalent equal annual cost of the ..
If my income increases by 10%, then quantity of public transportation demanded drops by 5%. I can say that income elasticity of my demand for public transportation is negative and that public transportation is a normal good.
When are two variables independently distributed or independent?
A hospital is considering to purchase one of two different medical devices to perform a specific task. Both devices will perform an accurate analysis. Device A costs $170,000 initially, whereas device B (the deluxe model) costs $180,000.
What idea is the speaker in the poem trying to convey?
A major car manufacturer wants to test a new engine to determine whether it meets new air pollution standards. The mean emission of all engine of this type must be less than 20 parts per million of carbon. Ten engines are manufactured for testing ..
Each existing firm and every potential entrant faces an identical U-shaped average cost curve. The minimum level of average cost is $10 per ton and occurs when a firm produces 5 million tons of cobalt per year.
On her 23rd birthday a young female engineer decides to start saving toward building up a retirement fund that pays 8% annual interest, compounded quarterly (market interest rate). She feels that $600000 worth of purchasing power
where a > 1. In addition assume that the firms target own profit maximization, compete (simultaneously) in quantities and have marginal costs equal to c1 = c2 = c. Assume that 1 > c > or equal to 0. Describing the necessary mathematical steps, and..
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