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Forecast the demand for pizza in your community for the next four (4) months using the regression equation, including the assumptions that were used to create the demand. Justify the assumptions made related to the forecast
Suppose in the United States, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. In the United Kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. The United States has 30 workers and..
Do higher saving rates affect long-run economic growth? Explain. Do higher investments in research and development affect long-run economic growth? Explain
Imagine a person who wants to find a job within two months. Explain why the eventual outcome (finding a job or not finding a job) can be viewed as a random variable. What distribution can be used to characterized this variable? Be as specific as poss..
question 1an economy is currently in equilibrium and the following figures refer to elements in its national
Yummy foods, a gourmet food store, has stores all over the Chicago area. They have a reputation for undercutting prices of any competitor that tries to enter the market until the competitor is driven out of business. Which of the following statements..
Suppose the restaurant’s cost function for shrimp balls is C(Q) = 2500 + Q + Q2, and the marginal cost curve is therefore MC(Q) = 1 + 2Q. What is the variable cost function? What is the average variable cost function? What is the average cost functio..
Identify each of the following taxes as being either progressive or regressive.
We have focused on how banks create money. I spoke to a banker the other day; he assured me that he did not create money. In fact, he stated that all he did was provide service to the community by lending whatever funds were available to the local me..
Franchising in China is a relatively new and growing phenomenon which has gained momentum since the 1990s. Among the franchising pioneers in China are large and well-known food and beverage brands, such as KFC and McDonald's. What did Wang do as he p..
In the specific-factors model, an increase in the price of manufactured goods will cause: A. a decrease in the nominal wage in the manufacturing sector. B. an increase in the real rental of capital. C. a decrease in the real rental of capital. D. no ..
Which of the following would tend to increase AD?
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