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A sportswriter wants to know how strongly the residents of Indianapolis, Indiana, support the local minor league baseball team, the Indianapolis Indians. He stands outside the stadium before a game and interviews the first 30 people who enter the stadium. Suppose that the newspaper asks you to comment on the approach taken by this sportswriter in performing the survey. How would you respond?
Shadow pricing is a key element of cost benefit analysis. Explain what shadow pricing is and why it might be necessary to use it in a cost benefit analysis study. (B) Outline and explain two shadow pricing techniques
Explain how can be expected to happen to quantity of labour hired if minimum wage is increased next year. Be sure to explain in words illustrate what is happening on your graphs.
How does definition of a market, or for that matter, a business strategy, affect that perception of a monopoly.
You are trying to sell your audio system (an amplifier and speakers) to raise money for an upcoming trip to overseas. The system works great, and audiophile friend tell you that if he were in the market for this kind of equipment (which he isn’t), he..
Suppose 1-year T-bills currently yield 7.00% and the future inflation rate is expected to be constant at 4.50% per year. What is the real risk-free rate of return, r*? Disregard any cross-product terms, i.e., if averaging is required, use the arithme..
Assume the annual demand for liquor in Mississippi. The supply of liquor is given by the equation Qs= 30,000P. Solve for the equilibrium annual quantity and price of liquor.
If marginal cost is rising in a competitive firm's short-run production process and its average variable cost is falling as output is increased, then: A. average fixed cost is constant. B. marginal cost is below average variable cost. C. marginal cos..
An overoptimistic sales forecast has resulted in excess inventory sitting idle at a company's warehouse. As the manager of the company, your job is to troubleshoot the problem and get results. Your instinctive reaction is to open up new channels of d..
q1. the lojack car recovery system allows the police to track stolen cars. as a result they not only recover 90 percent
In each of the following situations, what type of unemployment is being described? Explain.
For rice production, why might labor productivity among workers in some southeast Asian countries be lower than labor productivity in Arkansas (Note: Arkansas exports the 4th largest amount of rice in the world).
Bee keepers in your state have been complaining that the cherry orchard owners are killing bees when they spray cherry trees for pests. you estimate that the private marginal benefit your residents enjoy from cherry consumption is PMB=306-4Q and the ..
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