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Suppose that the probability of a defective part is .03. Suppose that you have a shipment of 1000 parts. What is the probability that more than 10 parts will be defective? Answer to at least four decimal places.
A total of 5.9 percent of the prime time viewing audience watched shows on ABC, 7.6 percent watched shows on CBS, 5.5 percent on Fox, 6.0 percent on NBC.
Analyze the differences in costs of production and determine the firm's profitability. Specifically, if market prices change, what does this mean for the profitability of each business?
At what quantity of output is ATC at its minimum? At what quantity of output is AVC at its minimum? Suppose we know that within a certain range of output, ATC is decreasing as output increases. What must be true about ATC and MC? Explain your answe..
under what conditions will an increase in the price of a product lead to a reduction in total spending for that
Scarcity shapes decisions about how to distribute goods. Because resources are scarce consumers buy fewer good.
production function fx1 x2 x1x2. the prices for the inputs are 2 and 8 respectively.a. if x2 is fixed at x210 derive
Assume that if England devotes all its available resources to cloth production, it can make 60 total yards of cloth. How many labor hours does Portugal have available for production
Who in your economic model do you predict to be the superbowl champion of next year
Describe economic state of Argentina
Consider a simple economy in which investment is constant and equal to $100 billion. There is no government or foreign sector, and the price level is constant. What is the value of the marginal propensity to consume?
Point A with coordinates (X = 4, Y = 6) and point B with coordinates (X = 10, Y = 12) belong to a straight line. Let Y be on the vertical axis and X on the horizontal axis. Find the slope of the line
A public-interest group supports the subsidy, arguing that it helps consumers and producers alike. Economists oppose the subsidy, declaring that it leads to an inefficient level of output. In your opinion, which side is correct? Explain carefully.
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