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Suppose 1 in 200 pilots flying Space-X aircraft dies each year while only 1 in 500 pilots flying Subspace Gliders dies each year. Moreover, the average salary of Space-X pilots is $115,000, while the average salary of Subspace Glider pilots is $109,000. Given this information, what is the implied statistical value of a life of a pilot? please show the detail.
Briefly explain whether it is possible for firms in a perfectly competitive market to earn zero economic profit even if they have incurred a sunk cost upon entry into the market. Given an example of such a cost.
Using the value of MPC = 0.75, and knowing the difference between the values of expenditure multiplier and the tax multiplier), Estimate the increased level equilibrium aggregate output (RGDP) with a total tax rebate (reduction) $400 billion.
1. What will the absolute change in the budget from last year? (Answer in an integer or a decimal)
Assume that the demand for short-order cooks at diners in a small town is ED=400 – 16 w , where E is the number of short-order cooks and w is the hourly wage rate. The market clearing wage is $8, but the town's City Council imposes a "living wage" of..
crew brew of wisconsin plans to build a microbrewery on a small stream in that state. after sampling water from the
Determine the impact on each of the following if 2 million formerly unemployed workers decide to return to school full time and stop looking for work:
I think that if the two firms want to give out some shoes, as long as they are honest and transparent with their dealings, why not?
Joe's demand curve for office visits is Quantity = 100-5p. In other words, Joe's Willingness to pay for the N^th visit = 20-0.2N^th visit. Joe has an insurance policy that covers up to $100 at a $0 copayment up to the limit. After hitting the limit, ..
Use an example of a large family with young children who focus on the Nickelodeon and Disney Channels and a childless family that watches only Lifetime and CNN.
The aggregate demand and aggregate supply model is a useful simplification of the macro economy used to explain short-run fluctuations in economic activity around its long-run trend. The vertical axis of a diagram of the aggregate demand and aggregat..
If the exchange rate rises, domestic goods become relatively ______ expensive. This change in the affordability of domestic goods makes domestic goods _____ attractive to foreigners. So, _______ ______. (choose - more,/less, imports/exports, fall/ris..
Its price for an engine overhaul is less than Illustrate what it costs Pam AM to do an overhaul themselves.
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