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After a campaign to encourage students to take precautions against skin cancer, in a certain high school class consisting of 27 girls and 30 boys, it is observed that 20 girls and 17 boys take precautions as measured by a survey to elicit how often they wear sunscreen, sunglasses and hats for protection against the sun.
What is the probability that a student picked at random takes precautions against skin cancer (by wearing sunscreen, sunglasses and a hat), given that the student is a boy?
Calculate consumption expenditures as a percent of real GDP for all years and calculate GDP growth in 2011 and 2012.
A Problem Solving Approach: Strategic Game Describe some interaction your company has with another entity (firms producing complementary or substitute products, upstream suppliers, ordown-stream customers), or between internal divisions within your f..
Suppose that a firm’s fixed proportion production function is given by q = min(5k,10l). Calculate the firm’s long-run total, average, and marginal cost functions. Suppose that k is fixed at 10 in the short run. Calculate the firm’s short-run total, a..
Profits from recycling paper, cardboard, aluminum, and glass at a liberal arts college have increased at a constant rate of $1100 in each of the last 3 years. If this year's profit (end of year 1) is expected to be $6000 and the profit trend continue..
Complete the following table by indicating whether an event will cause a movement along the demand curve for donuts or a shift of the demand curve for donuts, holding all else constant.
Suppose that firms’ marginal and average costs are constant and equal to c and that inverse market demand is given by P = a – bQ, where a,b>0. Calculate the profit maximizing price-quantity combination for a monopolist. Also calculate the monopolist’..
The price elasticity of demand for imported mineral water is estimated to be ?0.20 over a wide interval of prices. The federal government decides to raise the import tariff on foreign mineral water, causing its price to rise by 20 percent.
Consider the horizontal quality model on the unit interval from 0 to 1. There are N consumers located uniformly along the interval. There are two firms, with zero marginal costs, initially located at 0 and 1. Solve for the equilibrium price if both f..
If consumers expect the price of a good to rise in the future, do we expect demand for that good to increase or decrease in the present?
annual cost of $10,000, and a salvage value of $5,000 after its 10 year life. At an interest rate of 10% per year, what is the capitalized cost of the alternative?
Which of the following is an example of moral hazard?
A local newspaper headline blared: "Bo Smith signed for m.u.30 Million." A reading of the article revealed that on April 1, 2000, Bo Smith, the former record-breaking running back from Football University, signed a m.u.30 million package with the Da..
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