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The average number of shares traded daily on the New York Stock Exchange during the past year was 1.9 million. If the distribution of daily trading volume is approximately normal, with a center at 1.9 million shares and a standard deviation of .25 million shares, on what percentage of the days was trading volume
a) more than 2 million shares?z(2 mil)=(1.9- 2)/.25=-0.4
b) less than 1.5 million shares?c) between 1.45 and 1.75 million shares?d) between 1.8 and 2.3 million shares?
The price elasticity of demand for a firm's product is equal to -1.8. the firm currently sells 4,000 units per day at a price of $2. if the firm increases its product price by 10%, then how much can it approximately sell
Assume the point elasticity method. 1. Anna owns the Sweet Alps Chocolate store. She charges $10 per pound for her hand made chocolate. You, the economist, have calculated the elasticity of demand for chocolate in her town to be
Suppose that a new government is elected that wants tokeep out the poor. It declares that the minimum rent that can be charged is $2500 per month. If the government can enforce that price floor, will there be a surplus or ashortage? Of how many un..
Ahead of you is a wonderful weekend. You bought a ticket to see a professional football game. The ticket cost $50 a piece, plus you estimate a cost of $25 each for gas to the game and parking. Since the game is in the middle of the afternoon, you ..
What is Q if the price level is 120? Suppose that Q in your answer is the full-employment level of output. By how much will Q increase in the short-run if the price level unexpectedly rises from 120 to 132.
A $40,000 machine will be purchased by a company whose interest rate is 12%. The installation cost is $5K, and the removal costs are insignificant. What is its economic life if its salvage values and O&M costs are
Suppose the number of points on an economics midterm (P) can be characterized by the following production function: P = 10H - 4B where H is the number of hours spend studying and B is the number of beers in the week prior to the midterm.
Gold Trackers watching the value of precious metals and has daily information on prices and sales of gold for the last many years.
Alex and Barbara will simultaneously choose to go to the beach or to go cycling without talking to one another. Alex prefers beach and Barbara prefers cycling, but they prefer to be with one another.
A consumer of two goods faces positive prices for both goods and has positive income. Her preferences over consumption of good 1 and good 2 are represented by the following utility function: u(x1; x2) = e^(x1+ln(x2))^.5
Calculate the price elasticity of demand in summer for transit services and the cross-price elasticity of demand for transit with respect to the level of business activity.
John is planning to retire in 15 years. He wishes to deposit an equal amount (A) every 6 months until he retires so that, beginning one year after his retirement, he will receive $30,000 for the next 15 years.
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