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The director of manufacturing at a clothing factory needs to determine whether a new machine is producing a particular type of cloth with s mean breaking strength of at least 70 pounds. a sample of 36 pieces of clothe shows a sample mean breaking strength of 69.1 pounds and a standard deviation of 3.5 pounds. use a 5% level of significance to test for a mean of at least 70 pounds
The inverse demand curve for widgets is P = 130−2Q. There are two firms, A and B, who produce wid- gets. Each firm has a constant marginal and average cost of producing the good that equals 10. What is the Cournot-Nash equilibrium? You need to solve ..
If it is illegal to sell food stamps, what does your analysis indicate about the potential existence of a black market in food stamps? Indicate graphically an acceptable price that your consumer would accept for his food stamps, and that someone w..
An American is considering relocating their Oregon facility to Nicaragua. The current exchange rate is 1 U.S. dollar (USD) to 25 Nicaragua Cordobas (NIO). The current wage rate in Nicaragua is 200 NIO per hour, and the U.S. wage rate is $15/hr. If th..
You are the manager of Dunkin Donuts. Almost all of your donut sales are derived from the drive-through window. You know from experience that coffee is a complement for your donuts. The morning newspaper says that a major storm has just destroyed 50 ..
Principles of economics for evaluating and assessing the need for the public health initiative, A brief description of whether the initiative is a micro or macroeconomic program, A determination of whether the result of the initiative is a public or ..
The R&D and development costs for the new drug were $1.2B. Variable costs are estimated at $25 per pill and allocated fixed costs are estimated to be $8 million per year. For pricing let’s assume that the average channel margins based on retail price..
The EU is a regional integration. Please discuss the option to develop from a free trade area to a common market and a currency union. The planned Transatlantic Trade and Investment Partnership (TTIP) is a free trade area. Please discuss the impacts ..
Why should the government intervene in situations of market failure? Should the government intervene if a market is fully efficient, why? What additional rationals are present if there is inadequacy in the market?
In a recession, consumers have less income to spend. As a result, if dining out is a normal good, then which of the following would happen to the demand curve for dining out?
Suppose we collect the following information from a large number of junior and senior level college students: Give specific interpretations for the coefficients in the model, and discuss whether or not they make sense. Based on this equation, what co..
Met's preferences over consumption is defined by the following utility function: u(c1,c2) = min[c1,2c2] . Note, c1 is Met's consumption today and c2 is Met's consumption next period. Derive Met's demand for consumption today and consumption next peri..
Considering expected return and risk, which projects are good candidates? The firm believes it can earn 5% on a risk-free investment in government securities
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