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Suppose you have a non-standard poker deck. The deck has 100 cards: 10 Aces, 10 2's, 10 3's, 10 4's, 10 5's, 10 6's, 10 7's, 10 8's, 10 9's, and 10 10's. Suppose the deck is well-shuffled. What is the probability that the top six cards of the deck are all of different types (thus, for example, at most one of those cards is an ace, at most one is a 2, etc.)
What is the difference between relative factor endowments and relative factor intensities? What does the Hecksher-Ohlin theorem say about home versus foreign countries while they remain in autarky? What happened to the Leontief paradox when human ca..
How might your elasticity of demand for copying and binding services vary if your work presentation is next week versus in two hours?
If the initial investment in a project will cost $50,000 with expected benefits of $15,000 a year for 8 years, using 15% MARR per year. The net present worth for the project will be?
There is a trade off between unemployment and inflation when the aggregate Supply curve is upward sloping. SC Is downward sloping. SC is vertical. Demand curve is downward sloping
Compare the supply and demand conditions in both locations. How many people live in each place.
Post and discuss why the tax credit enacted by the 2009 American Recovery and Reinvestment Act has no effect on the employees’ supply of labor using the concepts of consumer surplus, producer surplus and deadweight loss. Apply the effects of the Soci..
When comparing perfect competition and monopoly, a major assumption made is that
Illustrate what is Betty's threat value. If Arthur and Betty cooperate together in settling their disagreement, what is the net cost of resolving the dispute.
The market for roofing services suffers from asymmetric information because customers don't know the quality of roofers' work. Which of the following DOES NOT help overcome this information problem?
A visiting American executive finds that a foreign subsidiary in a poor nation has hired a 12-year-old girl to work on a factory floor, in violation of the company’s prohibition on child labor. He tells the local manager to replace the child and tell..
A rather wealthy man decides to arrange for his descendants to be well educated. He wants each child to have $60,000 for his or her education. He plans to setup a perpetual trust fund so that six children will receive this assistance in each generati..
Consider the following regression analysis between sales (Y in $100) and social media advertising (X in dollars): Yˆ = 5400 + 9X. The regression equation implies that an:
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