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Delta Engineering pays $2500 quarterly for their errors and omissions insurance. If paid annually, the rate is $9000. What effective annual interest rate are they paying?
A crew of mechanics at the Highway Department garage repair vehicles that break down at an average of λ = 8 vehicles per day (approximately Poisson in nature). The mechanic crew can service an average of μ= 11 vehicles per day with a repair time dist..
For each of the following pairs of items, say if they are perfect substitutes, imperfect substitutes, or perfect complements and draw an indifference curve map.
If we passed a constitutional amendment requiring a balanced budget every year, this would probably. During the course of a bad recession the fed would probably be doing each of the following, except. If, during a depression, the federal government a..
Describe basic concepts related to online security, privacy, and intellectual property as it relates to Tom's T-Shirt's website and e-commerce operation.
The owner of a test prep company was interested in whether students who took the company’s face to face test prep class did better on the GRE than students who followed the test prep company’s live online program. In which situation could the test pr..
Assume that the Demand curve is given as Q=250-5P and the supply curve as P=10+Q. What would be the price and quantity with perfectly competitive markets? What will happen to price and quantity if the government provides a specific subsidy of $1 per ..
There is an increasing role of computer and other new information technology in workplace. Computers are also changing the characteristics of work in many ways. Computers and technology is shaping the way we work and alters the balance of power betwe..
Suppose that the cost of eradicating polio from a society of 1,000 persons is $5 per person. Also suppose that only two persons in the society will benefit from that policy, and the benefit to each of those persons is $2,000. Then what is the social ..
Southwestern Moving and Storage (SMS) buy a large-capacity trailer truck for $115,000 to provide short-haul earth moving services. SMS is planning selling the truck in seven years for a price of $45,000. Construct the cash flow diagram. Calculate the..
Create an 3-6 page report, that includes an explanation and/or examples of: A circular flow diagram that includes the government sector. For this part of your paper, you should include a description of the roles that each participant plays in the eco..
Graph and label the Lorenz curve for a country in which 1/4 of the population earns 3/4 of the income, 1/2 of the population earns 1/10 of the income, and 1/4 of the population earns 3/20 of the income. Assume that every individual within each class ..
Assume the MTA’s production cost curve is given by C=1,200,000,000 + 3.5q where q denotes the number of subway trips. From past fare changes we know that a 20% drop in fares will increase the number of transit trips by 4%. Calculate the first-best tr..
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