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Almost all medical schools in the United States require applicants to take the Medical College Admission Test (MCAT). On one exam, the scores of all applicants on the biological sciences part of the MCAT were approximately Normal with mean 9.5 and standard deviation 2.1. For applicants who actually entered medical school, the mean score was 10.1 and the standard deviation was 1.7.
(a) What percent of all applicants had scores higher than 11?
(b) What percent of those who entered medical school had scores between 10 and 12?
Suppose that France and Germany both produce oil and cheese. France's opportunity cost of producing a pound of cheese is 5 barrels of oil while Germany's opportunity cost of producing a pound of cheese is 11 barrels of oil. France can gain from speci..
a. Why is the capital utilisation rate procyclical? b. How is the natural rate of unemployment determined?
10 consumers, ranked by their value for a network product v = 1...10, are deciding whether to connect to the network. If there are n people on the network, including oneself, then a consumer's willingness to pay equals n x v. What is the highest pric..
i) How many tickets would the team sell if it behaved competitively? And what is the price of the ticket?
Why should a government be concerned with the pricing of products that a company transfers to an affiliate in another country? Please explain in terms of taxation and exchange rates.
If the nominal money supply is rs.200 and the price level is 1, (i) is the economy operating with inflationary or deflationary condition. (ii) Illustrate at what price level will there be simultaneous equilibrium in all markets.
Suppose an individual has the following utility function defined over wealth: U = U(√wealth). The individual has an initial wealth level of $20,000. What is the expected loss? What is the maximum amount this individual is willing to pay for insurance..
Assume that the low-calorie frozen, microwavable food company from Assignments 1 and 2 wants to expand and has to make some long-term capital budgeting decisions. The company is currently facing increases in the costs of major ingredients.
One of the criticisms of oligopolies is the adverse impacts these firms have on income distribution. Do you believe that is a valid criticism? Discuss with appropriate examples.
If the price of Labor, w = $12 per unit of Labor, what is the firm's Marginal Cost of production when the firm is producing 48 units of output?
The effective e-commerce and CRM strategies, applications and services on both websites.Write a short report in APA (American Psychology Association) style on the findings of the above items 1 and 2 with appropriate comparison, contrast, and discu..
A monopolistic firm faces the following demand curve. Q = 7800 -12 P This monopoly's cost function has been estimated as follows: TC = 460,000 + 50 Q. What price should this monopoly charge to maximize its profit? What would be its equilibrium profit..
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