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In one Uvilop poll, 724 individuals were asked about the effects of second hand smoke. 113 of them said that the effects "were not harmful at all". If you randomly selected an individual from those polled, what is the probability that they would say that the effects "were not harmful at all"?
Evaluate how effective the Federal Trade Commission (FTC) has been in protecting consumer privacy and targeting deceptive and unfair trade practices on the Internet. Support your opinion with specifics.
There are two types of customers in a market for sheet metal. Let P represent the market price.
Why are companies using more technology input while reducing labour input. Why are Average Cost Curves U-shaped. Illustrate what is Law of Diminishing Returns.
The price of a hamburger is $1 and the price of a movie is $6 and the consumer has $14. A consumer has purchased 2 hamburgers and 2 movies, receiving 20 units of utility for the second hamburger and 100 units of utility for the second movie. The cons..
The wait times at a gas station follows a uniformal distribution varying evenly from 0 to 300 seconds.
Suppose a closed economy decides to lower taxes (assume Ricardian equivalence does not hold), all else held constant. What will happen to savings, investment, and the interest rate? Show graphically what happens (be sure to label curves, axes, equili..
March 2016 corn futures are trading at $3.6175/bushel. The market is “paying” producers $0.0975/bushel to store corn to July 1, 2016 (trading at $3.715). How much should the carrying charge be if the monthly storage fee is $0.02/bushel and the averag..
Explain and illustrate how each of these events would affect aggregate demand, aggregate supply, and prices, then explain how you would respond with economic policies.
write down ten results from the polls that indicate something interesting about the relative strength of the parties. Write a letter to a presidential candidate explaining what you would recommend based on this data.
How do global regulations influence businesses operating internationally? What are the major obstacles to global regulation? Compare the costs and benefits of regulation. In your opinion, do the benefits outweigh the costs? What are the advantages an..
Assume that the interest rate is 10%. Explain whether you would prefer to receive (a) $ 75 one year from now, (b) $ 85 two years from now, or (c) $ 90 three years from now? Would your answer change if the interest rate is 20%? Show how you arrive at ..
Consider a market with inverse demand P(Q) = 100 - Q and two firms with cost function C(q) = 20q. Find the Stackelberg equilibrium outputs, price and profits (with firm 1 as the leader). Compute the optimal profits for the firms.
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