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Pew Research Center conducted a poll in 2016 and determined that 28% of Americans preferred to use an ereader over printed books. Curious about this statistic, I polled 100 of my staff. The results were very similar to the 2016 poll. Of the 100 staff polled, 40 of them said they prefer ereaders over printed books.
Using a .05 confidence level, do the results suggest my staff are in line with the typical American reader?
The rate of economic progress in a country seems to depend on the extent to which the country has a well-functioning market economy in which property rights are protected. Discuss the relationship between property rights, corruption, and economic pro..
Explain at the current price, eight units are demanded each period. If the objective is to increase total revenue, should the price be increased or decreased.
A small manufacturing firm is considering purchasing a new boring machine to modernize one of its production lines. Two types of boring machine are available on the market. Determine the break-even annual O&M costs for machine A so that the present w..
What is the difference between a change in supply and a change in quantity supplied?
A 968 MW combined-cycle gas fired plant can be purchased for $450 million, has a salvage value of $100 million, and produces a net cash flow of $56.5 million per year over its expected 30 year life. The MARR is 12%. Determine if this is a profitable ..
Draw a supply and demand curve, label X & Y axis and show equilibrium. Show a shift in demand and supply, and why it has occurred (non-price determinants). Describe all changes. Show in two or more graphs and use 2 examples for each - supply and dema..
A temporary group of employees responsible for bringing about a particular change is a
Despite a great marketing campaign or despite a very poor marketing campaign, a simple jingle or tag line is often enough to keep the brand memorable. Does a tag line/jingle have the ability to help, or would even be appropriate for each mega brand i..
What do you think will happen to the labor market and unions in the manufacturing industry in the next 10 years? Do take into consideration any bailout given by the government during the 2008 financial crisis. Where do you think the demand for labor ..
Point out which costs (sunk cost, incremental cost, fixed cost, variable cost, marginal cost, opportunity cost, out of pocket cost) are considered "relevant" and which are considered "irrelevant" to a business decision. Explain why.
Consider a representative consumer whose preferences are represented by the utility function, where c is consumption and I is leisure. The consumer derives income from wages w and dividend income. Suppose that the government imposes a proportional in..
If the output from a land source brings revenue of $400, transport costs of shipping this output to market are $55 and the land used in production is 4 acres, what will the rent for this land be? If you can’t solve this problem, state why it is not p..
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