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the following information concerning production of wheat and cloth in the United States and in the United Kingdom:
Labor Hours Required to Produce One Unit
United Kingdom United States
Wheat 2 1
Cloth 6 5
Which country has the comparative advantage in producing wheat? In producing cloth?
What is the size of the sampling error in this case b. What is the probability that the average wait time would be less than 80 seconds c. What is the probability that the average wait time would be more than 109 seconds d. What is the probability..
A high-tech stock has the following potentials of either going up or down in next twelve months based on investment analysis of several stockbrokers.Potential Associated Increase Probability /DecreasePercentage as a young enterprising engineer, are..
Recently, the owner of a Trader Joe's franchise decided to change how she compensated her top manager. Last year, she paid him a fixed salary of $65,000, and her store made $120,000 in profits (not counting payment to her top manager). She suspec..
Suppose that the inverse demand for shale gas is given by p = 400 - 2q. The private marginal cost of producing shale gas is PMC = 100 + q. Suppose that in order to produce shale gas at the PMC given above, the oil and gas (O&G) companies (that pro..
Clean Supreme is a corporation that produces and sells powdered laundry detergent in the U.S. The company has estimated the following regression equation for the demand of its Brand Z detergent:
The price at point a is $70 and the price at point c is $10 per bag. The price at point d is $56 and the price at point e is $31 per bag. The price at point f is $67 and the price at point g is $32 per bag.
If American workers produce 4 cars a year and 10 tons of grain and Japanese workers can produce 4 cars per year and 15 tons of grain, what would the PPF (Production Possibilities Frontier) graph look like
Swapna David is a customer assistant consultant for Acme Information Systems, who provides assistance for computer users. The mean number of calls per hour is 40 from across the United States and calls are independent.
Manke a graph showing the relationship between two variables, X and Y . Determine whether the relationship is negative or positive
In 1984, Walt Disney brought in Michael Eisner, a Paramount executive as CEO. The firm's board of directors agreed to pay Eisner a salary of $750,000 plus a $750,000 bonus for signing on, plus an annual bonus equal to 2 percent of the dollar amoun..
Assume that you have a normal distribution with mean =0 and variance =1. Assumee you control a likelihood test for mu =.07 and another likelihood test for mu =8.
What are the equilibrium price and quantity e. What happens to equilibrium price and quantity if other things remain the same as in part d but income increases to $52,000 f. What happens to equilibrium price and quantity if other things remain the ..
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