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Suppose that shoe sizes of American women have a bell-shaped distribution with a mean of 8.04 and a standard deviation of 1.52. Using the empirical rule, what percentage of American women have shoe sizes that are at least 12.6?
If the Fed simultaneously raises the discount rate and the reserve requirement, the money supply will:
Suppose Frank is a monopolist in the garden gnome market and is producing his profit-maximizing level of output. Suppose further that at this level of production his average total cost is $150, his average variable cost is $130, and the price of one ..
Identify a personal economic decision that was driven by a behavioral bias rather than by pure rational behavior.
q.suppose the state is trying to decide how many miles of a very scenic river it should preserve. there are 100 people
Refer to the following table. The externality created by the production of refrigerators was $100. However, once both the private and additional external costs were taken into consideration, the market price increased by only $50. If the external cos..
In 2000, the town of Brother’s Bay in Door County Wisconsin had a more-or-less free market in boat services. Any adult citizen could provide boat services as long as the drivers and the boats satisfy certain safety standards. What is the competitive ..
A coal hauling truck has a net cost of $85,000. It has an expected service life of 250,000 miles at which time it will have a $5,000 salvage value. Your company uses the units-of-production method to calculate depreciation. Calculate the allowed depr..
Describe the economy of your state. What is the most recently reported unemployment rate? How has the number of payroll jobs changed over the last 3 months and over the last year? How does your state’s performance compare to the U.S economy’s perform..
Consider the following strategic setting involving a cat named Baker, a mouse named Cheezy, and a dog named Spike. Baker’s objective is to catch Cheezy while avoiding Spike; After Spike moves, the game ends. In this game, how many information sets ar..
Indicate whether each of the following statements describes an increase in demand, decrease in demand, change in quantity demanded, increase in supply, decrease in supply, or change in quantity supplied in the given market.
What are the external effects ( externalities ) and why they can lead to inefficiency and government intervention in the market. Why are some government policies to manage externalities effective ( efficient ) while others are inefficient ( inefficie..
Imagine you are the marketing manager for a U.S. manufacturer of disposable diapers. Your firm is considering entering the Brazilian market. Your CEO believes the advertising message that has been effective in the United States will suffice in Brazil..
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