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Find the probability that 4 randomly selected people all have the same birthday, given that all of them were born in September. Ignore leap years.
Suppose a representative consumption basket of a consumer consists of 10 candies and 5 sodas. The prices of these goods for different years are given below Candies Soda 2011 $1 $2 2012 $1 $3 2013 $2 $4 For each year, compute the cost of the basket
Using the national savings and investment identity, explain how each of the following changes (ceteris paribus) will increase or decrease the trade balance:
Using a cost benefit analysis understanding, with the social perspective of the gold coast, what would the net benefits of the most likely outcome
Why do restaurants shut down at a certain hour of the day, say 10:00 p.m? Why do movie theatres still show movies that have just a handful of movie watchers? What is the difference between accounting profit, economic profit, and normal profit?
The demand curve for Widgets is given by QD = 6000 - 2y - 200p + 30pG, where QD is the quantity of widgets demanded, y is the per capital income and pG is the price of Gizmos. An increase in per capital income will cause A) demand shifts left. Can yo..
Assume that there are two players in a game: Offense and Defense. Each player can choose one strategy to play: Run or Pass. If both Offense and Defense choose to play Run, the payoff for Offense will be -4 and the payoff for Defense will be 10. If bo..
Ford is given a subsidy, paid by consumers, for every car produced. Furthermore, the elasticity of demand is more elastic than the elasticity of supply. Who bears the cost of the subsidy? Show your work by using a graph.
1. Suppose that a monopoly faces the demand curve given by: P = 200-2Q.
Can you explain the law of diminishing returns in your own job place. Can you find a counter example.
The legislative branch of the American government is bicameral. In a minimum of at least two well-written paragraphs, define and discuss the advantages of a bicameral legislature, including how and why this came about. Reference should be made to the..
What is an exchange rate? What is the exchange rate currently for the US dollar and the euro? for the dollar and the yen? for any other currency of your choice? Where appropriate, cite examples from your text or other readings.
On the following graph, use the green point (triangle symbol) to plot the annual total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per bippitybop. According to the midpoint method, the price elasticity of demand between p..
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