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Gerald took the ACT and scored a 27 on the math portion. The ACT had a mean math score of 21 with a standard deviation of 5.1.
Which student scored better with relation to the other students in the distribution?
Illustrate what will happen to equilibrium price As a local cable company offers cheaper pay- per-view films, local movie theaters have more unfilled seats.
Air transport for businesspeople and tourists
A monopolist selling several different products can sometimes "price discriminate" by bundling products together. Here's an example. Suppose the university is planning to offer a series of two concerts. The first program in the series consists of mus..
Jim currently pays premium $P for his health insurance, which he purchases in a competitive health insurance market, and covers 80% of all his healthcare costs (i.e. 20% coinsurance rate; no deductible or catastrophic cap). If he were to instead purc..
To construct an interval estimate for the difference between the means of two populations when the standard deviations of the two populations are unknown, we must use a t distribution with (let n1 be the size of sample 1 and n2 the size of sample 2) ..
Ceteris paribus, three industries are identical except that in industry A there are six firms that produce a homogeneous product. In which industry is collusion likely more sustainable?
From chapter 8 (chapter 21 in the combined volume), we know that the primary cause of inflation is expansion of the money supply. In this chapter, we learn an additional side effect of monetary expansion. What is this effect? A. Current account defic..
Between February 2008 and Summer 2009 the Fed supplemented its open market operations with a greatly expanded program of direct lending (both overnight and short term 28 and 84 day loans) to commercial banks, investment banks, brokerage and primary d..
There are limits to the number of jobs that can move from developed countries to the Philippines, India and China. What determines those limits? Offshoring can reduce production costs and increase economic efficiency. What impacts might offshoring ha..
A major defence supplier expects to generate additional revenue from its recently won government contract. The company expects the revenue will be $110 million in the first year and the revenue increasing by $2.5 million each year for the next 4 year..
If the supply of turkeys in particular November (remember Thanksgiving) turned out to be unusually small (few turkeys not size of the bird).
Mike's utility function for consumption and leisure is U(C; L) = C1=2 L1=2. There are 168 hours in the week and he earns $10 per hour. a) What is Mike's optimal amount of consumption, hours of work and of leisure?
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