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If the CPI was 110 last year and is 121 this year, what is this year's rate of inflation? In contrast, suppose that the CPI was 110 last year and is 108 this year. What is this year's rate of inflation? What term do economists use to describe this second outcome?
The plan is to make an initial deposit today and then deposit an additional $2,500 a year for the next three years, starting one year from today. The account pays a 3% rate of return. How much does the Bluebird Company need to deposit today.
Your accountants tell you that it costs $400 to set up an immunization program at a preschool and immunize one child against polio. It will cost $460 to immunize 20 more children.What is the cost per child for these additional 20 children
The state Medicaid agency has set a rate of $5.50 per visit for all Medicaid enrollees who visit a physician. Each physician also has private paying patients. The demand curve for each physician can be characterized as follows, and physicians can ..
Suppose you are the production manager for Widgets, Inc. Your job is to produce a fixed amount of output at the lowest cost possible. When you take over the position, you find that the price paid for a unit of labor is $20 (W = $20)
Consider the following total benefit (TB) and total cost (TC) functions and the corresponding marginal benefit (MB) and marginal cost (MC) functions: TB = 150 + 28 Q - 5 Q2 MB = 28 - 10 Q TC = 100 + 8 Q MC = 8 generally MNB = MB - MC. Derive the eq..
Given the following information, calculate the income elasticity of demand using the midpoint formula. a. Nancy's income increases from $20,000 to $30,000 and her consumption of spaghetti changes from 10 pounds per month to 2 pounds per month.
Heat Tamers, Inc., of Bend, Oregon produces special heat-resistant boots used primarily by firefighters, smoke-jumpers and steelworkers. It is contemplating an expansion into the heat resistant leather market charging a price of $150 per pair of b..
The prices of five computer stocks increased by 37.2 percent, 1,140.0 percent, 2.7 percent, 842.0 percent and 0.95 percent, respectively since 1990.
Suppose that there is an adverse oil supply shock. Show the impact that this has on the production function, the labor market (i.e. on equilibrium wage and labor), and on the actual amount of output. SHOW a diagram and DISCUSS your findings.
Does the small R-squared in part (i) imply that spending is correlated with other factors affecting math10? Explain. Would you expect the R-squared to be much higher if expenditures were randomly assigned to schools-that is, independent of other s..
Twenty-five examples of 150 online orders that were picked manually were inspected prior to shipping and a total of 36 orders were found to be incompleted or wrong.Compute control limits for p-chart. UCL=p+3p UCL=p-3p
If the output changed to 75 units of bread and 60 units of butter, the profit of the butter firm would go up by $42. The profit of the bread firm would go down by $76. 50 units of butter which the consumed by the consumer.
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