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IQ test scores of students are normally distributed with mean μ=100 and standard deviation σ=10.
What is the 33th percentile of the IQ scores?
For a randomly chosen student, what is the probability that his or her IQ score is less than 85?
You are a member of an area prescribing committee (APC) which is reviewing the treatment options for a cancer which is universally rapidly fatal (usually within months) if not treated. From a society perspective, which treatment generates the greates..
Interest payments on a bond are $500 twice a year. If the bond interest rate is 5% per year compounded semiannually, the bond face value is: Two mutually exclusive alternatives, A and B, are to be evaluated by the ROR method. The initial investment f..
President Trump has put forward a tax plan that would significantly cut personal and corporate income taxes in the U.S. Assume that Congress passes
Fiscal policy is. The crowding-out effect stresses that
Assume a technological advance leads to lower production costs. Show the effect this will have on national income, unemployment, inflation, and interest rates with the help of an ADAS diagram, assuming completely flexible wage rates.
The unemployment rate in November 2011 came down to 8.6% from 9.0% in the previous month. What could have been a possible reason for the decrease in the unemployment rate even when many new jobs were not created in the economy at that time?
What distinguishes pure competition in the long run from pure competition in the short run?
Suppose the European Union (EU) is investigating a proposed merger between two of the largest distillers of premium Scotch liquor. Based on some economists’ definition of the relevant market, Based only on these data, provide quantitative estimates o..
Find the amounts of each inputs that maximize revenue (ie the price times the quantity of output produced from those amounts of inputs) minus the cost.
(Cournot's duopoly game with linear inverse demand and a quadratic cost function) Find the Nash equilibrium of Cournot's game when there are two firms, the inverse demand function is given by P(Q) = a - 2* Q and the cost function of each firm is
Now suppose the factory develops an innovation that allows it to produce a shirt for the equivalent of 1 loaf of bread. What is the new radius of the factory's market area.
What is the marginal revenue product of hiring one low-skilled worker to clear woodland for one month.
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