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Farmer Carl claims that less than 15% of his corn has worms. In a random sample of 80 ears of corn, Carl finds that 6 of them have worms. Test his claim at the α = 0.05 significance level.
Question: What hypothesis test should you use for this problem?
What is the difference between a profit and a rent? If a firm is interested in maximizing profits, why would it stay in an industry if profits are zero?
Regarding long-term unemployment, what incentives do you believe the long-term unemployed face with unemployment insurance programs? As part of your answer, make sure to address what impact these programs have on the economy of a country.
Florida is considering construction of a flood control dike having a life span of 16 years. The investment require is $60,00 and annual maintenance costs of $5,000. The project will provide no benefits for the first two years but will save $24,000 pe..
1) Many economists will argue that government should not be allowed or counted on to create jobs. Discuss your analysis of this type of action sometimes governments take. 2) Discuss Block's quote "Production is everything, and jobs are nothing but..
Based on demand function from previous question, when price of good is $50, how many units of good are demanded.
What is a dominant strategy in game theory? replace the entry in the first row and second column with (125, -50). Does A have a dominant strategy? Does B? What is the solution to this game? Suppose that a hospital has the ability to be a perfect pric..
elucidate what will be the effect on the world price of wool. How does the marginal revenue to Australia from an extra unit of wool relate to the price of wool.
Which of these displays price discrimination?
The concern of an auto insurer that insured drivers will not be as careful is due to the problem of:
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 40 - 0.5P, and the marginal cost of production is $50. Determine the optimal number of units to put in a..
Social responsibility other than to make as much money for their stockholders as possible. Explain why you agree or disagree with such a statement.
Describe partnership contributions and distributions. Please include information on the taxability of partnership contributions and distributions and how the IRS has created various elections to counterbalance or minimize the uneven effects of certai..
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