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PERT networks use a simple statisticical method to determine the most likely task completion time. Describe how expected activity times and variances can be computed in a PERT network. Describe a situation in which a project manager would choose PERT for their project.
Explain what happens to the primary deficit in year t if the nominal interest rate in year t increases to 17%.
Explain why market power leads to a deadweight loss. Is the total deadweight loss from market power for the economy large or small. A student argues, "If a monopolist finds a way of producing a good at lower cost, he will not lower his price. Becau..
Construct a numerical example to show that as marginal product (MP) rises, marginal cost (MC) falls. Explain your answer and use tables and graphs to illustrate.
A monopolist has two types of customers. There are 100 of TYPE A, who will each pay up tp $10 for a single unit of the good, and 50 of TYPE B, who will each pay up to $8.00.
Find the equilibrium price, quantity and revenue in a market characterized and Find Betty's opportunity cost of a bottle of wine in terms of box(es) of chocolates.
At the beginning of this year, daily consumption of gasoline in the US amounted to 344 million gallons. It is estimated that for every 10% increase in the price of gasoline, the demand for gasoline reduces by 2.00%.
Calculate the premerger Herfindahl-Hirschman index (HHI) for this market and suppose that any two of these firms merge. What is the post merger HHI?
allows foreign customers to purchase them by mail for price v2 where v1, v2 are the domestic and foreign reservation prices The problem is that frequent travelers are tempted to purchase the CD players domestically, then sell them overseas. Assume..
Embassy Motorcycles (EM) manufactures two lightweight motorcycles designed for easy handling and safety. The EZ-Rider model has a new engine and a low profile that make it easy to balance. The Lady-Sport model is slightly larger, uses a more tradi..
One of the major problems facing Cisco Systems and other direct sellers is
The atmospheric pressure of 100k Pa acts on the other side of the piston. The gas is heated until the volume is doubled and the final pressure is 500 kPa. Calculate the work done by the gas.
What would be the long run price and quantity for this firm in a competitive market? 2. In the long run how many firms are in the industry?
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