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Suppose that basketball players are, during any given game, in one of three states: Hot (they make 75% of their shots), Normal (they make 50% of their shots), or Cold (they make only 25% of their shots). Suppose Steph Curry is Hot. What is the probability that he will make 3 baskets in a row? What if he is Normal? Cold? If you have no idea what state he’ll be in before the game (that is, each state is equally likely), what would you believe about the likelihood that he is Hot after he makes his first 3 baskets in a row?
Under the responsibility scheme proposed by the Hong Kong government, households will be charged for solid waste disposal. Is this charge justifiable from an economics point of view? Explain your answer with a diagram. Is it fair to charge all househ..
You are thinking about becoming a Paradise Coffee franchisee. Franchisees are offered a business specializing in producing an exclusive line of exotic coffee drinks (similar to Starbucks). What is the estimated explicit (accounting) cost of your prop..
q.in 2008 financial crisis has basis macroeconomists to re-think monetary as well as fiscal policies. financial experts
How does the concept of sentience impact moral reasoning about the rights of the animals? In response define sentience and give at least three examples of how this compact impacts ethical decisions about animals.
Suppose an olligopoly consists of two firms Firm A lowers price and Firm B responds by lowering its price by the same amount. If averages costs and industry output remain the same, which of the following what will occur
Identify market structure Identify elasticity of the product Include rationale for the following questions: How will pricing relate to elasticity of your product?
The annual percentage returns on common stocks over a 7-year period were as follows: Compare the means of these two population distributions. Compare the standard deviations of these two population distributions.
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
Assume that in 2007 the U.S. Government issued a debt security with a purpose of consolidating all of the federal national debt. At the time of the issue, each security was priced at $15,000 and promised to pay 10% coupon rate indefinitely, just as i..
If the Fed pursues expansionary monetary policy
A new law requires that all construction workers in your area belong to a labor union. Will this shift the labor supply curve, demand curve if both in home construction.
Consider the following information for a simultaneous move game: If you advertise and your rival advertises, you each will earn $5 million in profits. If neither of you advertises, you will each earn $10 million in profits.
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