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A basketball player who makes 75% of his free throws comes to the line to shoot a one on one. That is, if the first shot is successful, the player is given a second shot; if not, he gets no second shot. One point is scored for each successful shot. Assume the outcome of the second shot if there is one, is independent of that of the first
a) find out the expected number of points resulting from the one on one
b) compare this with the expected number of points from a two shot foul, where the second shot i always given
A growing economy means that the economy is producing more also more stuff, either since it has more resources.
If a price in a competitive market is "too high to clear the market," what does this normally mean. Assume upward-sloping supply curves.
Consider an employee who does not receive employer-based health insurance and must divide her $700 per week in after-tax income.
Assume this economy is closed to trade, and compute consumption, government purchases, national saving, and investment.
Which of the subsequent industries is most such asly to be monopolistically competitive. A normative economic statement such as "The minimum income should be abolished".
Illustrate what is the reason the productivity also real incomes of workers in the industrially advanced economies have risen historically partly.
If congress decides to reduce the tax paid per pack paid by sellers of cigarettes other things being equal the cost of cigarettes will fall.
Illustrate what are the values of public saving,national saving and private saving.
What is the equilibrium price paid by the demanders for merino ewes now. Elucidate what is the equilibrium price received by the suppliers for merino ewes.
Currently, boats rent for $500 per day and workers cost $100 per day. Suppose your company decided purchase 12 shrimp boats (Jenny 1 - Jenny 12). These boats are a fixed resource for the firm. Illustrate what is the short run total cost of produci..
Illustrate what does this mean for the survival of small firms in the industry.
Pharmaceutical drugs have an inelastic demand, as well as computers have an elastic demand.
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