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The length of a human pregnancy with no complications from conception to birth varies according to a normal distribution with mean 260 days and standard deviation of 10. Only ten percent of pregnancies length are less than what value.
A purely competitive firm finds that the market price for its product is $30.00. It has a fixed cost of $100.00 and a variable cost of $17.50 per unit for the first 50 units and then $37.50 per unit for all successive units. What is the average varia..
How much profit does the manufacturer make? How much profit does the retailer make? How much profit does the retailer make?
Calculate the cross elasticity of demand, using the mid-point approach.
Discuss the potential problem with a temporary tax decrease designed to increase aggregate demand if people know that it is temporary?
Explain the theoretical reasoning why economists suspect that hospitals with different ownership forms will behave differently with respect to price, quality and access. Also explain some of the reasons why most empirical studies have not found any s..
A monopolist with total cost function T C = 30Q + Q^2 is facing a market demand given by P = 150 − Q. a) What is the optimal quantity and price the monopolist will set on this market? (Q=30, P=120) b) What quantity and price would this firm set if it..
How would you go about determining whether innovation and the incentives for innovation are becoming more important factors in the performance of firms and industries?
Consider a country’s trade off between the production of two ‘goods’: environmental quality (extent to which their environment, including air and waters, are clean), and all other goods. Why is there a trade off? Explain.
In this module, it is demonstrated that sometimes extensive diseconomies of scale, say, due to high transportation costs, would require that the firm produce its product in a multiple of plants. Suppose a beer brewing company has determined that i..
According to the Content topic, how does the proposition differ from a thesis statement? How are they the same? Are the words "should" appropriate
Given what you know about adverse selection and risk, what, in your opinion, is the best way to provide insurance coverage to the poor and uninsured? Should the government provide financial incentives for private carriers to insure the poor and unins..
What kind of market do you believe Uber drivers most closely resemble - perfect competition, oligopoly or monopolistic competition and why?
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