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A man decides to spin a wheel 6 times. each time he spins the wheels, he has a 0.2 probability that the wheel will stop on a red space. if he spins the wheel 6 times, what is the probability that is stops on a red space exactly two times?
The Family Education Rights and Privacy Act (FERPA) was passed in 1974 to protect the privacy rights of students in higher education institutions. It is appropriate to mention that the motivation for the passage of FERPA was generated by the desir..
What are the three vertical integration of a business and why is it vital to organizational success?
Consider a firms per-period (e.g., hourly) production process. If it employs 1 unit of labor, then 5 units of output will be produced; if it employs 2 units of labor, then 12 units of output will be produced; and if it employs 3 units of labor, then ..
Demonstrate a critical understanding of the standardization vs adaptation debate in International Marketing. Make reference to positives and negatives from organisational and consumer perspectives.
Given the following demand and supply curves: (a) Qd=-P+10 and (b) Qs=P. calculate the inverse demand function (provide below) and graph the two lines. Calculate and label the Consumer Surplus and Producer Surplus
Two major sociological figures: Karl Marx and Max Weber. Both were concerned with the concept of power, with inequality, in short, with social stratification.
The impact of labor migration on patterns of international trade depends on the characteristics of the labor migrants. In which cases might migration expand trade? World income? In which cases might it reduce trade and world income?
Suppose an individual has the following utility function defined over wealth: U = U(√wealth). The individual has an initial wealth level of $20,000. What is the expected loss? What is the maximum amount this individual is willing to pay for insurance..
Suppose that Marr's utility function for Wegmans' ice cream (W) and Tops' ice cream (T) is U= W+T. The price of Wegmans' ice cream is $5 and the price of Tops' ice cream is $4.
Suppose the Federal Reserve Bank adopts expansionary monetary policy. Using the graph of supply and demand for the market of short term Treasury securities, show graphically and breifly explain what happens to the price of short term treasury securit..
You’re the manager for a college football team. Assume you own the stadium and the variable cost per attendant is $0. You’ve been told by your in-house economist that you should set the price of tickets at $50 to maximize profit (at current, you set ..
A monopolist faces a demand function x = (1/2)(11-p) where p is the price of the product and x is the quantity demanded. The monopolist has a cost function 3+2x. The government impose a tax of t per unit of output. Assuming that the monopolist maximi..
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