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Suppose you are dealt two cards from a standard deck of playing cards. a) What is the probability of being dealt a pair of aces? b) There are 13 possible pairs possible (Aces through Kings). What is the probability of being dealt a pair of any type (That is, the probability of a pair of Aces OR 2s OR 3s, etc.)? c) What is the probability of being dealt two cards of the same suit? d) What is the probability of being dealt any two cards greater than a 10? This includes Jacks, Queens, Kings, and Aces.
acceptedcapital structure theories
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Effects of consumption function.
The entire market is capture by a single firm which can produce at a constant average and marginal cost of AC = MC = 10. The firm faces a market demand curve given by Q = 60 ? P.
Aggregate Supply and Demand 1. The equation for expenditure GDP is 2. Sketch a fully labeled aggregate supply and demand diagram for an economy that is in full employment equ
The LM-curve in the AS-AD model The LM-curve will shift upwards (downward) when P is increases (decreases) in the AS-AD model is moved L
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Explain the term production function in the economics. Production Function A production function is the association between the quantity of inputs a firm utilizes and the qu
Give an example of how the Principle of Opportunity Cost applies to your life. Think of a recent decision you made. It could be a decision as simple as whether to eat out or cook y
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
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