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52% of mosquitos caught at random in any given field study carry malaria. If you conduct a study and capture 12 mosquitos, how many mosquitos infected with malaria would you expect to have in your mosquito-catching Mason jar out of all 12 mosquitos buzzing around? Round up to the nearest whole number if your calculation results in a number with decimal point values. For example, 0.2 rounds up to 1 and 74.25 rounds up to 75.
Suppose that the citizens of Hungary can purchase all the oil they desire at the going international price. If the Hungarian government levies a tax on oil, who bears the burden? Illustrate your answer wit h a supply and demand diagram.
Two firms, 1 and 2, simultaneously pick prices, p1 and p2, respectively, where p1,p2 ≥0. Both firms have constant (and identical) marginal costs, denoted c>0. Demand is given by D(p), where p is the lowest price, p = min {p1,p2}, If the two firms cha..
In January 1991 the Consumer price index (CPI) was 134.6. In October 2015 (the November CPI is not yet available, so use the October CPI for this problem) the CPI was 237.8. Using January 1991 as the base period, what was the real (inflation-adjusted..
Discuss the impact of major accounting/financial scandals on investors’ asset preferences. In your opinion how do the scandals affect foreign markets? Discuss two macro variables that affect changes in interest rates/or markets. If you watch these va..
Solve graphically: Show an increase in real interest rates that decreases quantity supplied of savings. (m2=0)
You work at a Gazebo company (Shady Tents) and you hire an economist to estimate the price elasticity of demand for your product, and the estimate is .9 (in absolute value) and this has been fairly stable over the last year.
Using a graph of the market for reserves, demonstrate how an increase in the interest on reserves can be used to raise the federal funds rate. Label all axes, variables, curves, and initial/final equilibrium. Briefly explain the change.
Describe how Kristallnacht represented a logical extension of the anti Jewish, prejudicial thinking that was incorporated into the Nuremberg Laws. Holocaust
Policy analysts in the Department of Natural Resources have estimated that the marginal benefits from water pollution abatement are given by the function MB ¼ 0.90 À 0.03A, where A is a measure of the abatement intensity. Industry experts have estima..
Identify three to five major concepts of systems thinking and then explain how they were applied in the Med Star Story.
Bill gets utility from consuming food (F) and clothing (C) represented by the following utility function: U(F,C) = FC + F. The price of food is $1 per unit and the price of clothing is $2 per unit. Bill’s income is $22. Find the utility maximizing ch..
Select a social problem where free markets are not allowed to function and describe why? Please do not describe illegal drugs, environmental issues or black market human organ sales?
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