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According to a survey, college student make an average of 77 calls per week on their cell phone. Moreover 80% of the students surveyed indicated that their parents pay their cell phone expenses.
a. If you select a student at random what is the probability that he or she makes 10 calls in a day?
b. If you select a random sample of 10 students, what is the probability of at least 2 have parents pay their cell phone expenses?
Beat To A Pulp, Inc. sells paper and uses paper machines and labor in production. It pays $800 per employee and $400 per paper machine. Its marginal product of labor (MPL) is 1600 reams of paper per worker and marginal product of capital (MPK) is 200..
Discuss how we can minimize possible confounding effects in an evaluation. Make sure to discuss the two major techniques.
Supposed a proposed public policy could result in three possible outcomes: If the probability of each outcome is, respectively, 0.85, 0.10, and 0.05, should the policy be pursued or not? Explain.
Discuss the types and relationships of costs within multiple markets. Include descriptions and formulas, as well as, comments as to their level of importance to a firm’s long-run and short-run production strategies. Take account of opportunity costs ..
A college graduate with a B.S. in Mechanical Engineering expects to earn, on average, $20,000 per year more than an engineer without a B.S. degree. what MARR does the investment represent? Is it a high or low rate of return compared to, say a student..
suppose that the carnival and the circus have both come to town and are both o?ering free admission. you have 6 free
Suppose that Jack and Jill use a tit-for-tat scheme to encourage cartel pricing. Jill chooses the low price for two successive months, and then switches to the high price. The two firms will deviate from cartel pricing for a total of _________ months..
Identify which of the following situations currently faced by the World Bank or the International Monetary Fund are examples of adverse selection and which are examples of moral hazard.
You are given the following information about a firm's investment decision. Calculate its user cost of capital (equivalently rental cost of capital). (Round to the nearest dollar)
Show that consumer surplus when the monopolist innovates is lower than the consumer surplus that obtains when the entrant innovates.
Write a difference equation for the amount of water in a reservoir behind a dam on a river. The reservoir holds 1 billion gallons of water when full. Annual water loss through evaporation equals 10% of the total in the reservoir.
If you deposit $1000 now, $3000 four years from now followed by five quarterly deposits decreasing by $500 per quarter at a rate of 12% per year compounded quarterly, how much money will you have in your account 10 years from now?
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