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If 63 tickets are sold and 2 prizes are to be awarded, find the probability that one person will win 2 prizes if that person buys 2 tickets. Use a graphing calculator and round the answer to six decimal places.
P(win both)=
Discuss the expenditure approach to measuring aggregate economic activity. Discuss the income approach to measuring aggregate economic activity. Are they equal? Does the value added method of measuring economics activity confirm this?
The local Audubon Society has just put a new bird feeder in the park at a cost of $500. The feeder has a useful life of 5 years and an annual maintenance cost of $50. Fred, was very impressed with the project. He wants to establish a fund that will m..
What is the public debt going to be at the end of fiscal year 2019. Finally, why is rising public debt bad for an economy, from an economics perspective?
A no production economy has 2 consumers (A and B) who each consume two different goods (x and y). Person A is endowed with (120,270) and has a utility function Ua(Xa,Ya)=X^(2/3)Y^(1/3). The initial endowment, the IC that go through the initial endowm..
Barbara's Body Shop is considering investing in a Kaizen training class. Training the entire workforce now incurs $100,000 in expenses. Improvement ideas will generate $50,000 annual income. Determine the after-tax cash flow for years 0 to 5, assumin..
where random(1, n) returns a uniformly distributed random integer in the range 1 . . . n.
Grandparents decided to start a college fund for their soon to be born granddaughter. They plan to make third first deposit the day she is born and plan to make the last deposit on her 10th birthday. They want the child to be able to withdraw 10,000 ..
The working age population is 68,690 and the labour force participation rate is 73.6%. Use this information to find the following.
Illustrate what are the effects on the growth rates of cumulative o/p, cumulative consumption, and also cumulative investment.
If the price of capital is $24, the price of labor is $15, and the marginal product of capital is 16, the least costly combination of capital and labor requires adjusting the amount of labor until its marginal product is equal to .............
Suppose the demand for apartment rentals in Los Angeles is Q = 1000 - P and the supply of apartment rentals is Q = 4P. What is the equilibrium price and quantity of apartment rentals in LA? Suppose the government imposes a price ceiling of $150. What..
What is the profit maximizing price, Output? For this monopolistic competitive firm, is the firm earning a profit or loss? Explain. What is the average total cost (ATC)? What is the amount of average revenue (AR)? What is the amount of total revenue,..
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