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jeff has 4 hours that he can choose to spend either studying for a test or playing a new video game. If he spends all of time studying, he can score a 92 on the test. If he plays for 1 hour, his test score falls 5 points. For playing a second hour, his score falls by 7 points. Playing for a third hour will lower his score by another 10 points. Jeff's PPC for test score versus hours playing his new video game is
(a.) Is demand elastic or inelastic in the $6-$8 price range How do you know (b.) If the table represents the demand faced by a monopoly firm, then what is that firm's marginal revenue as it increases output from 1700 units to 2300 units
The mean gross annual incomes of certified welders are normally distributed with the mean of $23,577 and a standard deviation of $2,358. The ship building association wishes to find out whether their welders earn more or less than $23,577 annually..
Jesse sells 400 candles per month at an average price of $5 per candle. Costs of supplies to produce and sell the candles are $500. Rather than producing and selling candles, Jesse could be working at a second job earning $800 per month.
State what is its distribution under the null and why and explain the conditions under which you would reject H0
Five annual deposits in the amounts of ($1,200, $1,000, $800, $600, and $400) are made into a fund that pays interest at a rate of 9% compounded annually. Determine the amount in the fund immediately after the 5th deposit
Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:
A special power tool for plastic produces costs 400, has a 4 year useful life, no salvage value and a 2-year-before tax payback period. Assume uniform annual end of the year benefits. A. Compute the before tax rate of return
If the quantity of money rose 10%, velocity was unchanged, and output rose 6%, what would be the inflation rate, according to the equation of exchange? Equation given: (Quantity of Money) * (It's velocity) = (Price level) * (Output) or ((QM) * V ..
now suppose the firm is able to charge an entry fee, as well as a price for every unit sold. What is the optimal entry fee, the price per unit, and the deadwight loss. Calculate them and show these on the graph below.
Suppose that the Fed's inflation target is 2%, potential output growth is 3.5%, and velocity is a function of how much the interest rate differs from 5%: %^V= 0.5 X (i-5). Suppose that a model of the economy suggests that the real interest rate
A firm produces two different goods, with demand given by the following Pa=100-2Qa-Qb and Pd=90-2Qb where Pa=price of good A Pb=price of good B, Qa=quantity of good A and Qb= quantity of good B there are 30 units of each in storage
Calculate GDP loss, governemnt expenditure needed to eliminate this loss, and the amount of tax cut needed to eliminate this loss if full employment GDP is $400 billion dollars, unemployment rate 8.9%, and the MPC is 0.8.
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