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Find the? consumers' surplus if the demand function for a particular beverage is given by D(q)= 3000/(3q+8)^2 and if the supply and demand are in equalibrium at q=7.
What would be the consumer surplus?
Business Economics, Economics
A firm undergoes a learning curve over its first few years of existence In its first year, its cost function is C(Q)= 128 + 3Q + 2q 2 with MC= 3 + 4Q In its second year, its cost function is C(Q)= 100 + 2Q + q 2 with ...
A state Department of Transportation claims that the mean wait time for various services at its different location is more than 6 minutes. A random sample of 16 services at different locations has a mean wait time of 9.5 ...
41% of the doctors in America are dentists. If a random sample of size 826 is selected, what is the probability that the proportion of doctors who are dentists will be less than 40%?
In a survey of 3153 adults, 1407 say they have started paying bills online in the last year. Construct a? 99% confidence interval for the population proportion. Interpret the results. A? 99% confidence interval for the p ...
1. Out-of-state tuition and fees at the top graduate schools of business can be very expensive, but the starting salary and bonus paid to graduates from many of these schools can be substantial. The following data show t ...
Couriers such as UPS and FedEx complete on service and price. One way to reduce cost is to keep labor cost low by hiring and laying off workers to meet the demand. This strategy requires managers to hire and train new wo ...
The mean distance commuters drove to work each day was estimated to be 40.8 miles from a sample of 45 commuters. The sample standard deviation was 5.8 miles. Assume that the distance commuters drive to work each day are ...
Describe the difference in economic profit between a competitive firm and a monopolist in both the short and long run. Which should take longer to reach the long-run equilibrium?
suppose the lifetime of a particular appliance follows an exponential distribution with a mean of 10 years. what is the probability that the appliance will fail in more than 5 years?
The partners at an investment firm want to know which of their two star financial planners, Brayden or Zoe, produced a higher population mean rate of return last quarter for their clients. The partners reviewed last quar ...
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