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Are all good samples random? This is an opportunity to bring up opinion polling, which typically tries to obtain views from particular groups and then "weights" the results by the prevalence in the population.
q.consider total cost and total revenue given in the table belowquantity 0 1 2 3 4 5 6 7total cost 8 9 10 11 13 19 27
Pat Oliphant's cartoon on the fall of the Berlin Wall cautioned that the euphoria should not make Americans oblivious to the failures of capitalism. Is there any truth behind his point of view?
Create a table where Q equals 0, 10, 20, 22.5, 30, 40 50 and 55. In the table include Quantity, Price, Total Revenue, Marginal Revenue (where MR equals the change in TR divided by the change in Q in the table), MR where MR=a-2bQ (include an explanati..
Suppose China wishes to peg the Chinese Yuan to the US dollar at $0.20/Yuan. But, because of foreign funds flowing into China, the Yuan appreciates. How can the People’s Bank of China (China’s central bank) maintain the pegged exchange rate? Is the B..
The following statement is given, “It’s not true there are substitutes for anything. If you want omelets, you need eggs. There are no substitutes for eggs in an omelet.”
If aliens come and take a large percentage of our cows what happens in the market for synthetic leather baseball gloves? (Assume a normal competitive market)(Show the graph, label all relevant points, and explain what happens to price and quantity. E..
Should the MR curve be straight with a monopoly when graphing marginal revenue, and is MR supposed to just equal MP?
Explain how much government securities should be purchased/sold if an open market operation is undertaken
A firm has a production function given by Q=10K^0.25L^0.25. Suppose that each unit of capital costs R and each unit of labor costs W. Derive the long run demands for capital and labor. Derive the total cost curve for this firm. Derive the long-run av..
When an owner of a business uses real personal assets rather than borrowing funds from outside sources to get started in the new business, it is referred to as ____. Angela, a fresh graduate, wants to start a boutique that sells tailor-made garments..
The annual maintenance cost for each leased cab is $750 per year. Should the cabs be replaced if the interest rate is 10%? After-Tax
Suppose a firm has a warehouse that they originally purchased for $500,000. They have a project that they determine would be acceptable if the costs for the warehouse were at most $1,500,000. The firm has determined the market price for the warehouse..
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