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Suppose that buses arrive at a bus stop every 15 minutes and the waiting time for the next bus to arrive has a uniform probability distribution on the interval from 0 to 15 minutes
a) Find the probability that x, a person’s waiting time will exceed 10 minutes
Identify any point where the MRT changes.
What is the optimal distribution of income if the social welfare function is additive?
The long-run factor demand problem.
Consider a consumer with preferences over newspapers (x) and books (y) that can be represented by the quasilinear utility function u(x,y)=x+2sqrt(y)
Alfred Kahn, currently an economics professor at Cornell University, led the United States drive to deregulate airline industry as chairman of the Civil Aeronautics Board under President Jimmy Carter.
Victory Visa, Magnificent Master Card, and Amazing Express are credit card companies that charge different interest on overdue accounts. Victory Visa charges 26% compounded daily, Magnificent Master Card charges 28% compounded weekly, and Amazing ..
If at a point in time long term interest rates were below short term interest rates, what would this indicate about investors expectations of future short term interest rates? Explain your answer in a few sentences.
In countries where the monetary system has broken dow, what are some of the alternatives to which people haveresorted to carry out exchange?
Application: Efforts at Containing Costs in Health Care
(a) Will a monopolist's total revenue be larger with second-degree price discrimination when the batches on which it charges a uniform price are larger or smaller Why (b) How does a two-part tariff differ from bundling
for the firm the major goal of profit sharing plans is to ltbrgtfor the firm the major goal of profit sharing plans is
A Monopolist. is constrained by a downward-sloping demand curve. has no incentive to worry about the quality of its product.
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