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Suppose a randome experiment can be represented by 2 sets of events ,Aiand Bj ,with each pair of sub events (A1andA2,andB1,andB2) being mutually exclusive and collectively exhaustive. Find the conditional probabilities P(B1 | A1) and P(B2 |A1) by using Bayes' the oremand P(A1 | B1) = 0.6, P(A1 | B2) = 0.5, P(B1) = 0.3, and P(B2) = 0.7
Transportation costs per 1000 units 800 1,100 950 Which location would minimize the total costs, given an annual production of 50,000 unit for what levels of manufacture and distribution would each ..
A firm called Altobella Vineyard produces Concord grapes in a perfectly competitive market in which monthly demand is given by the equation Q = 1800 - 16P and monthly supply by the equation Q = -660 + 14P, where P is the price per crate of grapes.
What is the four-firm concentration ratio for this industry? ___74%_ b) What is the eight-firm concentration ratio for this industry? _____98% Suppose that the distribution of sales within an industry is as shown in the table.
what are the highest and lowest payments from the writer that the beekeeper- farmer team will accept for the sixth day. Assuming that the farmer can dispose of $7 from the writer as she wishes, what range of payments will the beekeeper accept.
What total output must the cartel produce in order to maintain this price and what output will an individual firm be restricted if this price is to be maintained (assume all firms are permitted to produce the same level of output)?
Personal Interest Income 998.1 Personal Tax and Non-Tax Payments 1403.3 a. Calculate National Income b. Calculate Personal Income and Disposable Personal Income c. Calculate Gross National Product (GNP) d. Calculate Gross Domestic Product (GDP) e. Ca..
Suppose that a firm sells in a competitive market at a fixed price of $42.50 per unit. The firm's cost function is: C = 150 + 5Q. Determine the minimum quantity at which the can break even. Are there multiple break even points
The number of people without jobs who had stopped looking for one, believing that there were no jobs out there for them, was about 80,000, which represented a fifth of those not in the labor force. Further, the number of people with jobs throughou..
Suppose you have been employed as an economic analyst, your job is to use the Regression Model to estimate potential sales of your employer's product.
Suppose there are n identical firms in a market. Each firm has fixed cost equal to 392, and variable cost given by VC=2q^2, where q is the amount that an individual firm produces. This means that an individual firm's marginal cost is given by MC=4..
Seth could consume $120 next year if he saved all his current earnings. He expects to earn nothing next year. The intertemporal budget constraint for Seth is given by the equation C2 = 120 - 1.2C1 where C1 = possible consumption in year 1 and C2 =..
Given the following variables in the open economy aggregate expenditure model, autonomous consumption (C o) = 200, autonomous investment (I o) = 200, government spending (G o) = 100, export spending (X o) = 100, autonomous import spending (M o) = ..
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