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The commuter trains on the Red Line for the Regional Transit Authority (RTA) in Cleveland, OH, have a waiting time during peak rush hour periods of eight minutes ("2012 annual report," 2012). Would the Height be .01 at uniform distribution? To find the probability of waiting between four and five minutes, Would it be P(4<x<5)= ( 5-4)*0.1= 0.1?
U.S. firms can produce and sell electric fans for $40. The United States can also import electric fans from China at $42 (including tax) each and from Canada at $50 (including tax) each. Now suppose that the United States forms a free-trade area (NAF..
Some people argue that intense partisan competition forces each side to be a watchdog for the other, thereby achieving stability and balance. Others argue that this highly partisan environment leads to a paralysis in policymaking and detracts from ta..
When a best-selling book was first released in paperback, the Hercules Bookstore chain seized a profit opportunity by setting a selling price of $9 per book. With paperback demand given by P = 15 - .5Q, the chain enjoyed sales of Q = 12 thousand book..
Using two-period real intertemporal model we studied in chapter 11, answer the following questions:
Explain the difference between absolute advantage and comparative advantage. Why is international trade theory based on the latter? Be sure to contrast trade theory with the earlier Mercantilist period. What was the shortcoming in Ricardo’s early tra..
Identify a few ads for brands that have been endorsed by celebrities. What is the effect of the celebrity’s attractiveness, likeability and meaningfulness on the customer perception of the brand?
Suppose there is a permanent change in the preference of domestic residents such that they decide to consume less goods and services for all levels of income.
A $1 increase in government spending on goods and services will have a greater impact on the equilibrium GDP than will a $1 decline in taxes because:
Provide examples of businesses taking advantage (profiting from) the recent drive to “go green” (environmental consulting, etc). What are the advantages and disadvantages of going green for a company? What are the differences between John Maynard Ke..
Compare and Contrast the features of the retirement plans offered by Creative Games and United Manufacturing. Which plan do you think is more desirable? Why?
Use the following information for a monopoly firm to answer questions 27 through 29. Assume that Q equals the level of output and all costs are economic costs.
Consider a static (one-period), closed economy with one representative consumer, one representative firm, and a government. The level of capital K and government expenditures G in the economy are both fixed exogenously. Formally define a competitive ..
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