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Game Show Uncertainty
In the final round of a TV game show, contestants have a chance to increase their current winnings of 1 million dollars to 10 million dollars. If they are wrong, their prize is decreased to $100,000. To win, they have to guess the exact percentage that answered a question a certain way, and the range has already been narrowed to an 11-point range. So, for example, the contestant knows that the correct answer is between 20% and 30% and he or she must guess the correct percentage in that range. So, let’s say you have no idea what the right answer is and have to make a random guess. Should you play?
suppose your firm produces electricity by burning coal. currently it buys central appalachia 12500 btu per ton coal at
Suppose your product is Wendy's hamburgers. First "draw" the demand and suppy curve and see how the equilibrium price and quantity is determeined.
United States winter wheat production rise dramatically in 1999 after a bumper harvest. The supply curve shifted rightward; as a result, the value reduced and quantity demanded increased
Find an expression for the marginal product of labor, MP L , when the amount of capital is fixed at 16 units, and then illustrate that mardinal producer of labor depends on the amount of of labor hired by calculating the marginal porducto of labor..
Which of the following statements is true for a long-run supply curve that slopes upward? If total market output is increased unit costs of production increase if total market output is unchanged, unit costs of production increase. The total cost of ..
For every penny that the price of gasoline goes up, the U.S Postal (USPS) service experiences a monthly fuel cost increase of $8 million. State what assumptions you need to make to answer this question
Your company manufacturers controllers utilized in the production of commercial air conditioning units and currently selling them at $50 each. Marginal costs are $30 for production up to 10,000 units per month. Production cannot be pushed beyond 10,0..
Where P is the price of the product and Ps is the price of a substitute good. The price of the substitute good is $2.00. a. Suppose P = $1.00. What is the price elasticity of demand? What is the cross-price elasticity of demand?
The use of E-Books has increased in recent years, especially with the advent of mobile E-Readers. A marketing research firm recently developed the following supply and demand schedules for E-books:
Choose a United States based company with global operations. Discuss and explain the impact of globalization on the company's cost structure, markets, currency risk, and overall strategy.
in order to receive credit for this assignment you must use the marginal revenue-marginal cost analysis and you must
Consider a production setting with two factors of production,one fixed in the short run.Show how isocost/isoquant analysis can be used to derive a short run average total cost curves.Label your diagramms carefully.
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