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The mean gross annual incomes of certified welders are normally distributed with the mean of $23,577 and a standard deviation of $2,358. The ship building association wishes to find out whether their welders earn more or less than $23,577 annually. The alternate hypothesis is that the mean is not $23,577. Which of the following is the alternate hypothesis?
Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:
I have two goods, Xb and Xw, for beer and wine, and I need to draw the indifference map and determine the MRS. U(Xb, Xw) = min { Xb; aXw}, a>0. What do I need to do here? What does this look like?
A firm sells its product in a perfectly competitive market where other firms charge a price of $130 per unit. The firm's total costs are C(Q) = 40 + 10Q + 2Q2. a. How much output should the firm produce in the short run?units
Calculate total revenue, marginal revenue, marginal cost, and average cost at each level of sales fo the store. If Swim N Style is a profit maximizer, what number of suits will it sell per hour? What will its price and profit be? How can you tell wha..
If a corporation operates in a highly competitive industry and competes against many other companies. In the last some years, many new companies have entered the industry and firm now earns a return on investment very close to prevailing interest rat..
Assume that a national restaurant firm called BBQ builds 20 new restaurants at a cost of $1 million per restaurant. It outfits each restaurant with an additional $300,000 of equipment and furnishings
Assume the Following IS-LM Model E Expenditure sector Sp = C + I + G + NX C = 110 + (2/3)YD Calculate the equilibrium values of private domestic investment (I), tax revenues (TA), and real money demand (md). How much of private domestic investment (I..
In a country, output is produced with labor and physical capital. The production function in per-worker terms is y=k^1/2. The depreciation rate is 2%. The investment rate (&) is determined as follows: &=0.2 if y
How many units should be produced to maximize profit? How do this company's marginal costs behave as output increases? Provide a logical explanation as to why a computer manufacturer's marginal costs might behave in this way.
Which of the following is not a reason for rising health care costs? Which of the following statements about the way the government measures poverty is correct? Which of the following are explanations for income differences?
Annual maintenance of the vehicle is estimated to cost $700 per year. The cost of recharging the batteries is estimates at $0.015 per mile. The salvage value of the batteries and the vehicle at the end of 12 years is estimated at $2000. Consider t..
What is the cost of producing q output in the short-run? d. What is the marginal cost of producing a 301s unit? A 401st unit? If you are comfortable doing so, you may answer this question by writing down the marginal cost function directly, rather..
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