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A monopolist's demand function is P = 1624 - 4Q, and its total cost function is TC = 22,000 + 24Q -4Q2 + 1/3 Q3, where Q is output produced and sold. G) The monopolist should shut down when price is equal to or lower than?
Business Economics, Economics
Suppose a random variable Y has a mean E(Y ) = 12 and standard deviation SD(Y ) = 4. Suppose we define a new random variable Z = 3Y + 10. a. Determine the expected value (mean) of Z. b. Determine the standard deviation o ...
Once you have the total product curve plotted with the below data, how do you calculate the average product of labor at different units of labor? And the marginal products of labor? 1 unit of labor=2 outputs per week 2 u ...
For a population of individuals that has a standard deviation of 10, what is the standard error of the mean for samples of size (a) 2, (b) 3, (c) 4, (d) 5, (e) 10, (f) 20, (g) 100?
Get the Z score and then you can answer the questions? Visitors to the zoo an average of 74 minutes. This is normally distributed with a standard deviation of 23 minutes. If appropriate, calculate... a. What percent of v ...
Graph needs to be included. Most graduate schools of business require applicants for admission to take the GMAT, the Graduate Management Admission Test. Scores on the GMAT are roughly normally distribute with a mean of 5 ...
You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. A random sample of 44 gas grills has a mean price of ...
A child protective service (CPS) worker is calculating the average for the number of children per family in her caseload (N=30). The mean was 95 and the variance was 25. What was the standard deviation?
You're trying to save to buy a new $190,000 BMW 3 series sedan. You have $40,000 today that can be invested t your bank. The bank pays 4.8% annual interest on its accounts. How long will it be before you have enough to ...
Eleven people have eleven different favorite numbers from 2 to 12. They all agree to participate in a 10,000-roll dice game where they bet $1 on their favorite number for each roll of two standard (fair) dice. A donor ki ...
Jen and Barry perform a survey of consumers about home meal salad preferences ("fresh" or "fast"). 395 consumers said they prefer to make fresh salad. 426 said they prefer to make salad fast (out of a bag). 331 said they ...
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
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