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Salaries for newly hired managers are normally distributed with a mean of $43,000 and a standard deviation of $4,500. What salary represents the 15th percentile? You MUST show what went into the calculator and then your final answer.
Determine how the following affects the slope of the output demand curve, and explain your results:
A manufacturer estimates that its variable cost for manufacturing a given product is given by the following expression: C(q) = 25q2 + 2000q [$] where C is the total cost and q is the quantity produced. Derive an expression for the marginal cost of pr..
In this problem, you will be asked to derive the block-pricing scheme that maximizes profit in the case of 2nd-degree price discrimination when a monopolist faces a consumer with high demand PH = 80 − QH, a consumer with low demand PL = 50 − QL, and ..
Almost one-fifth of the deaths in children under five in Africa are from: The bulk of world trade originates and is exchanged between _____ economies. Health-adjusted life expectancy (HALE) reduces life expectancy by years spent: Which education indi..
Array Solutions requires a 14 percent return on their projects. Analysis shows that even though they have been earning the desired 14 percent, their real return appears to be only 10 percent when they look at what they can buy with their returns. Exp..
The 2007-08 Financial Crisis was called the "Great Recession". It started here in the United States, but it had an enormous contagion effect throughout the rest of the world. Provide examples of how other countries were affected and how they managed ..
Suppose the marginal revenue product of U.S. is given by MRP = 200-L and that a total of Ln =150 native US. workers supply their labor perfectly inelastically. In the absence of immigration, what is the equilibrium wage and level of employment of nat..
What are some real-life examples of monopolistically competitive, oligopoly, and monopoly markets? How do market prices differ between perfectly and imperfectly competitive markets? Will a monopoly always produce at a profit-maximizing level of outpu..
q. 1. what is the difference between marginal and total utility?2. can marginal utility be negative? provide an example
Are the profits of entrepreneurs obtained through coercion or through persuasion? (definition of terms: coercion = inducing people to cooperate by threatening to reduce their options. persuasion = inducing people to cooperate by promising to expand t..
What will you be looking for in a political candidate the next time you vote, in terms of economic philosophy and economic policies?
You’ve been hired as an economic consultant to a price-taking firm that produces shirts. The firm already has a shirt factory, so it is operating in the short run. The price of shirts is $5, the hourly wage is $12, and each shirt requires $1 worth of..
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