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You are taking a multiple-choice test that awards you one point for a correct answer and penalizes you for 1/4 point for an incorrect answer. if you have to make a random guess and there are four possible answers, what is the expected value of guessing?
Explain and illustrate graphically relationship between price consumption curve of a normal good and a consumer's demand curve.
we haven't been able to say much on theoretical side about private information combined with complementarities.
If a price in a competitive market is "too high to clear the market," what does this normally mean. Assume upward-sloping supply curves.
Top four firms in Industry B have market shares of top four firms in Industry B have market shares of 15,12,8 and 4 percent, respectively. Calculate four-firm c0ncentration ratios for two industries. Which industry is more concentrated.
Compute the output and price of wood working if it is produced under competitive condition without regulation. Determine the socially efficient price and output of woodworking.
The demand for bread will fall if more Americans go on a low diet. The cost of bread will fall due to the decrease in the demand for bread.
She is considering quitting her job and going to university full time for four years.
Assume that we care about the average welfare of individuals in Indian villages, i.e., we put equal weight on each individual's utility.
Illustrate what is the cooperative surplus. $100, the cost of litigating. What would be a reasonable settlement for Betty to pay What Arthur.
The setup cost is $100 per order up to 99. For orders of less than a pallet, the setup cost is $200. The setup cost for pallet loads is $1000. The holding cost is 1% of the purchasing cost per item per week.
During the Great Recession, like any other economic downturns, as unemployment rises, aggregate income declines causing a major decline in tax collections.
Each of the estimated coefficients statistically significant at the 95 per cent confidence interval. What is the optimal output level.
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