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Suppose that a company knows that on average, 30% of guests at a hotel will eat at the hotel restaurant. What is the probability that on a given night that at least 33% of the 160
abnormal supply curve
QUESTION (a) Explain the 3 methods of calculating National Income? (b) Why do all countries in the world calculate their National Income every year, despite all the difficul
2. You recommend spending $10,000 on equipment that will increase sales of your product by $1000 a year and reduce annual operating costs by $800. The equipment has 10-year lifetim
What is a bowed out shape? Why does a production possibilities frontier with increasing opportunity costa have a bowed-out shape?
Q1 An important first step to the statistical analysis of data is to "get to know your data". The following tasks should contribute to this. (a) To the right of the dataset c
demand and supply curve for luxury goods
QUESTION (a) Discuss whether international trade between countries is always beneficial. (b) What are the economic reasons for protectionism? (c) Does the National Income
Explain about the term underemployment and unemployment rate. Discouraged employees are non-working people who are able of working although are not actively in search of a job.
Applying economic concepts to situations at work. This writing assignment is intended to give you a chance to apply concepts to real economic situations. Think of these concept
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