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Suppose that the profit a Honda dealership makes on selling an Accord is random and is given by the following probability distribution:36% of the time the profit is 800, 26% of the time the profit is 1100; 18% of the time the profit is 1500; and otherwise, the profit is 1900. What is the expected value of the profit the dealership makes on selling an Accord? (please express your answer using 2 decimal places)
part-1you are the owner of a supermarket that wants to understand your clientiacutes preferences so that you can
What role do proper rights play in creating common property resources Why are common property resources subject to market failure due to non excludability a. What two properties characterize public goods
answer the following questions using examples and applications from the readings. justify your answers using economic
Catching illegal parkers is expensive. Exactly how often do you have to catch illegal parkers, before they will buy the $63 parking permit instead? (Hint: Set EU legal = EU illegal and solve for p, the probability).
a soft-drink bottler collected the following monthly data on its sales of 12-ounce cans at different prices.month 1 2 3
The total operating revenues of public transportation authority are $100 million while its total operating costs are $120 million. The price of a ride is $1, and the price elasticity of demand for public transportation has been estimated to be..
The local government of singapore is concerned about increasing rental costs for residents, and decides to impose a ceilong price on the maximum rents that can be charged by landlords on apatments and houses.
explain how the circular flow diagram relates to the current economic situation. using the circular flow diagram
according to milton friedman business has only one social responsibility - to make profits as long as it stays within
philadelphia 76ers will have a guys night out campaign. for a group of 4 tickets purchased at 35 per ticket level fans
A consumer receives income y in the current period, income y in the future period, and pays taxes t and t' in the current and future periods, respectively. The consumer can lend at real interest rate r. the consumer is given two options. First, he or..
Using the file FARM.csv. Construct the variable Q = (PBARL*QL + PBARC*QC + PBARO*QO)/10 where PBARL, PBARC and PBARO are the arithmetic averages of PL, PC and PO respectively.
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