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Tennessee just instituted a state lottery. The initial jackpot is $100,000. If the first week yields no winners, the next week's jackpot goes up, depending on the numbers of previous players who placed the lottery bets. The probability of winning is one in a million (1-10 -6). What must the jackpot be before the expected payoff is worth your $1 Bet? Assume that the state takes 60% of the jackpot in taxes, that no one else is a winner, and you are risk-neutral (i.e. you value the lottery at its expected value).
Who profit by this law. Under Illustrate what circumstances would restaurant voluntarily provide free transportation. Use a supply and demand graph to justify your answer.
If Evren wishes to make 25 tons of donuts, how many bakers are required given the current level of capital? How much will it cost to produce this (total cost)?
Why did Japan's export based economic groth stall in the period 1990-2012? In particular, focus on the differences between the modern
How does the Federal Reserve lower interest rates, and explain why it wants to keep them low at the present time?
Illustrate what are the benefits also costs to the US economy of labor migration (illegal also legal) into the United States from Mexico.
she estimates that she can produce and sell an extra 1,400 hamburgers per day by keeping the restaurant open for three more hours per day at a cost of $50 per hour. Which of these two alternative ways of increasing output should sh..
If interest rates remain unchanged, what is the expected capital gains yield, stated as a percentage, over the next year for Bond A and for Bond B.
What is the difference between framework convention and a protocol? What are the advantages and disadvantages to a two-stage approach to negotians? Why do most negotiations for globl environmental regimes end up taking a two-stage approach?
Coupled with $160 annual tax rebate per household. Will the household be better or worse off under the new program.
Can an economy be faced with endless trade cycles also still have its Real GDP grow over time?
Explain how does monetary policy work to close an inflationary and recessionary gap using the keynesians model and what is the link.
Find a current article about one or more of the macro variables for a nation of your choosing, such as GDP, employment, inflation, or international trade.
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