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Weekly CPU time used by an accounting firm has probability density function (measured in hours) given by
f(x) = {(3/64)y2(4-y), 0≤y≤4, {0, elsewhere.
a Find the expected value and variance of weekly CPU time.
b The CPU time costs the firm $200 per hour. Find the expected value and variance of the weekly cost for CPU time.
c Would you expect the weekly cost to exceed $600 very often? Why?
Discuss the dangers of a high debt to GDP ratio and a growing budget deficit.
1) Give one example of a price floor and one example of a price ceiling. 2) State the purpose of these legal prices and assess their impacts on the market. 3) Evaluate the extent to which the price floor achieves its purpose. 4) Evaluate the extent t..
develop a plan for managing your debt. how many sources of debt do you current have and what are the balances owed on
Fiscal and monetary policy and the negative impact policy can have on the equilibrium of prices. Then, identify ways that a free market society can avoid the negative impact and maintain both production and price.
What is the saving function as a function of disposable income? What is the consumption function as a function of aggregate income
How do costs play into your everyday life? For example, why might it be cheaper to drive on a toll-road vs. a free-access interstate? Also, can you identify situations where you may fall victim to the sunk cost fallacy (we all do)?
Summary of a recent news story and explain how it relates to the 10 principles of economics.
1. The impact of currency fluctuations on international operations.
c) Assuming the two different prices for S, how much of the two goods will be produced if Fnch has the right to pollute? "the firms are not merged" d) Assuming the two different prices for S , how much of the two goods will be produced if M has the r..
Night Timers Co. manufactures glow-in-the dark products in 10 ft. rolls. At present the company's maximum production capacity is 140,000 rolls per year. The cost is stated as: C= $50,000 + 0.25 Q.
Suppose that oil prices rise sharply for years as a result of a war in the Middle East. Illustrate with a diagram what happens to the: Demand for automobiles? Demand for home insulation? Demand for coal? Demand for tyres? Demand for bicycles?
If people behave according to rational expectations theory, people would expect the rate of inflation this year to be:
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