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Q. 1. Did you find that the items grouped together as you worked down the flow chart had similar characteristics in terms of their appearance? What about function?
2. Do you feel that the questions asked were appropriate? What questions would you have asked? What objects would be grouped together with your system?
3. Pick 10 household items (e.g. spoon, book, paper clip, etc.) and design a taxonomic classification system to categorize them, similar to the one in Figure 2.
4. Can you devise a different classification system for the objects used in this experiment that would distinguish each in as many, or fewer steps?
How are the forecasts likely to be inaccurate? What do you think is driving inaccuracy? How might this problem be solved?
Show why this equilibrium point is unique, i.e. if we are not at point E, illustrate what would happen in this economy.
Explain how much would the combined production of pineapples increase for the two islands due to trade. How much would the combined production of pearls increase.
Explain briefly why TOTAL profit (profit from entire sales) is still likely to be lower with this pricing scheme than with perfect price discrimination, despite charging a fixed fee equal to the entire Consumer Surplus of a typical consumer?
Suppose you are interviewing the CEO of a large company. The CEO is telling you about his or her job as a manager and how he or she spends time. Using the description below, which function of management is the CEO most likely describing in this examp..
If individuals resisting change are included in making change decisions in an attempt to gain their support, what is this approach called?
Elucidate why a currency depreciation leads to an improvement in a countries balance of trade.
Use these data to calculate the following:a.Private saving b.Public saving c.Government purchases
An economist has predicted that for the next 5 years the U.S. will have an 8% annual inflation rate, followed by 5 year at a 6% inflation rate. this is equivalent to what average price change per year for the entire 10-year period?
Explain how much profit will the perfectly competitive firms earn. Explain how much profit will the monopoly firm earn.
Illustrate what is the relation between marginal benefit and marginal cost at this level of the control variable.
Assuming that your interest rate, i, is equal to 14% annually, what would be your maximum offer (purchase price) on this machine?
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