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The length of life of oil-drilling bits depends upon the types of rock and soil that the drill encounters, but it is estimated that the mean length of life is 75 hours. An oil exploration company purchases drill bits whose length of life is approximately normally distributed with mean 75 hours and standard deviation 12 hours. What proportion of the company's drill bits
a will fail before 60 hours of use?
b will last at least 60 hours?
c will have to be replaced after more than 90 hours of use?
Suppose that the government places a ceiling on the price of a medical drug below the equilibrium price. Explain why there is a shortage of the medical drug at the new ceiling price.
Provides a detailed and well-supported explanation of the justification for natural monopolies according to economic theory.
Suppose the household wealth decreases due to a decline in the stock market asset prices - At the long-run macroeconomic equilibrium, the stock market boom occurs and increases the value of stocks households hold.
Illustrate the black market for medical drug,including the implict supply schedule, the ceiling price,the black market supply and demand, and the highest feasible black market place.
Explain why your example is not a fundamental cause of growth. 6.Give an example of a fundamental cause of growth, and explain why your example is not a proximate cause of growth. 7. Let's say there are two regions. In one region, cattle can be raise..
“The Federal Reserve System is structured in such a way as to insulate monetary policy from the political pressures characteristic of the rest of our political system of representative democracy.” Do you agree or disagree with this quote? Explain you..
Did Ehrenreich make a good low-wage worker - What could she have done differently to make her circumstances easier to manage?
Are there any drawbacks from states seeking to maximize federal contributions to their Medicaid programs?NEEDS TO FOLLOW APA Format, have a minimum of 200 words, and have one credible reference
What are the problems associated with using COS tolls to set the going-in prices for PC regula- tion? Are there any alternatives to using COS tolls? Why might they be difficult for the regulator to use?
When looking at a tariff and a quota, you will find that these are classified as protectionist policies. Which one do you think the US must consider given the higher trade deficit?
the operator of a centralized market for electrical energy has received the bids shown in the table below for the
What are your recommendations to the current administration considering the state of the economy and the level of national debt? What are the implications of your recommended course of action?
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