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“Jobs are the key to economic progress. Unless we create more jobs, our standard of living will fall.” Is this statement true or false? Explain.
Find the sample mean and variance of the Credit Score variable and find the sample covariance and sample correlation coefficient of Wait Times and Credit Scores.
If the price elasticity of demand for gasoline is 0.3, and the current price is $1.20 per gallon, what rise in the price of gasoline (in cents or dollars) will reduce its consumption by 10%? please explain.
Why is productivity related to the standard of living In your answer be sure to explain what productivity an standard of living mean. Make a list of things that determine labor productivity.
What will price and ouput be if there is no dominant firm Now assume that there is a dominant firm, whose marginal cost is constant at $6. Derive the residualdemand curve that it faces and calculate ots profit-maximizing output and price.
So the people that live within walking distance are the only customers you might get, and there are no other stores nearby. If the firm sells the products separately, what price should it charge.
Residents of your city are charged a fixed weekly fee of $6 for garbage collection. They are allowed to put out as many cans as they wish. The average household disposes of three cans of garbage per week under this plan.
The purpose of taxes is to generate revenue to allow government to provide services to citizens that they cannot easily provide on their own. If the government chose to reduce taxes by eliminating some tax services
Suppose that the rate of depreciation as well as the rate of saving are each .10. Also assume that there is no technological nor population growth.
How many times would this fully insured person visit the physician?
Suppose that an industry cartel wishes to keep a new entrant out of an industry. Cartel members can conduct "predatory pricing", where the cartel lowers its price until the entrant leaves, after which it returns it price to the cartel's optimal (m..
Create a list of reasons for your recommendation and include considerations of product features and use of advertising.
Does it appear that widgets would be a luxury good or necessity IF they sol at the perfectly competitive equilibrium (which they don't), and why?
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