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A firm in a perfectly competitive market will produce 0 output in the short run if the price in below $20 but will produce if the price is above $20. The smallest quantity they will produce in the short run is 6. The minimum of ATC is $447.75 at a quantity of 21. The fixed cost is $6615.
A corporation is interested in knowing which potential sales are next year if you use $20,000 in advertising expenses. The corporation uses the data from previous years to make its sales forecast.
compute the standard error of estimate and the standard error of the coefficient for the following data set: X = 95, 85, 80, 70, 60 and Y = 85, 95, 70, 65, 70. Lastly, set up and perform the hypothesis test to determine if a student's aptitude sco..
in the spring 2008, Senators John McCain and Hillary Clinton proposed a temporary elimination of the federal gasoline tax, effective only during summer of 2008, in order to help consumers deal with high gasoline price. what does this fact suggest ..
Kyle is an English PhD student; there is some chance he will get a prestigious university job that will pay him $80,000/year (probability p). If he does not get this job, he will have to take a job at Starbuck's, paying $25,000/year.
A local car dealer is advertising a 24 month lease of a sport utility vehicle for 520 payable at the beginning of each month. the lease requires a 2500 down payment plus a 500 refundable security deposit that is refunded at the end of the 24 month..
Assume that the mean hourly cost to operate a commercial airplane follows the normal distribution with a mean of $2,425 per hour and a standard deviation of $195. What is the operating cost for the lowest 4 percent of the airplanes.
They decide to import 50,000 more. The government buys 25,000 cars for its police force, and 10,000 cars are bought by companies to transport employees to other locations to work. They also export 65,000 cars to nearby countries for sale. How woul..
A collateral bond with a face value of $5,000 was purchased by an investor for $4,100. The bond was due in 11 years, and it had a bond interest rate of 4% per year, payable semi-annually. If the investor kept the bond to maturity.
Externalities-analysis and policy design: Suppose that in a competitive market, demand is given by the equation P = 600 - Q, and supply is given by the equation P = 160 + Q, where P is price and Q is quantity of some good or service.
Assume a normal random variable x, with mean 100 and standard deviation 20. a. Find the probability that a randomly chosen value of x is less than 95. b. Find the probability that a randomly chosen value of x is between 60 and 100. c. Find the 95th p..
a.) Draw and label a second budget line that shows what happens when the price of the CS rises to $10. b.) Draw and label a third budget line that shows what happens when the price of a CD rises to $10 and Parvez's income rises to $240
Assuming that the levels of human capital and technology are constant, each 1% rise in physical per worker raises output per worker by 0.33% Suppose that physical capital per worker rises by 1.5% in a given year. Which one of the following best re..
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