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Each Home Depot store must decide how much paint to order each month. From historical records, they know that the amount of paint they sell during May is distributed as follows: there is a 12% chance demand will be 710 gallons, a 20% chance that demand will be 980, a 38% chance that demand will be 1400, and otherwise, demand will be 1800 gallons. What is the expected value of demand for paint? (please express your answer using 2 decimal places).
There is a joke among economists that children are an "inferior good." In many countries there appears to be a negative relationship between income and the number children in a hou
We define marginal product of labor, MP L as the derivative of f with respect to the L - which is, as (approximately) how much Y will increase when L increases by one unit. We als
SUppose nominal GDP increases from 5.8 trillion to 6 trillion. The GDP deflator rose over that same year by 3.9 percent. By what percent does the real output increase?
U.S. employers have strongly opposed a corporatist agenda, under which employment relationships would be jointly governed by unions, employers, and government. This orientation has
critically analyse the ways at which the govement of zimbabwe has put in place to address unequal employment opportunitiesbetween men andwomen
Utility Maximisation: Graphical Presentation Let consider a two-commodity world, x 1 and x 2 representing good I and good II respectively. p 1 and p 2 are the prices o
1. Describe the process of diffusion in cells (not more than 2 pages). 2. Derive the equation for Fick's second law. 3. Draw a typical FRAP curve and explain its different re
Consider the following macroeconomic model: Y = C + I + G + NX C = 100 + 0.8 YD I = 300 - 1000 i NX = 195 - 0.1 Y - 100 (E.R.) E.R. = 0.75 + 5 i M = ( 0.8
Describe how price level evolves over time Using the time series we can study how price level evolves over time. If all prices rose by 2% during one month, price level would ri
. (40 points) Consider two consumers, A and B. A and B both want perfect consumption smoothing (c = cf) and both have no current wealth. However, the two consumers have different i
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