The increase in prescription drugs cost, increases the drug companies profit. Should there be restrictions to lower consumer cost and how much of their profit should be reinvested into research and development?
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A manufacturer of cereal has a machine that, when working properly, puts 20 ounces of cereal on average into a box with a standard deviation of 1 ounce. Every morning workers weigh 25 filled boxes. If the average weight ...
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Consider the following production function that is already written in per worker terms: y = Akαh 1-α where h represents human capital per worker. Suppose we are given the following information: capital per worker in an e ...
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Can someone help me determine how 11.07 was obtained? In order to determine the Chi-Square Critical for the Chi-Square. You need to find out the Degrees of Freedom (DF) DF = (Number of Rows - 1 * Number of Columns - 1) ...
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A random sample of 64 customers is selected to analyze their waiting time at a restaurant. The sample statistics are computed as follows: the sample mean xbar=3.21 minutes and the sample standard deviation s = 0.8 minute ...
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Discuss and provide application of concepts of supply and demand by identifying two goods and two services you consume at the household or professional level. For each example, you will identify a demand-shifting factor ...
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Suppose the price level and value of the U.S. Dollar in year 1 are 1 and $1, respectively. a. If the price level rises to 1.15 in year 2, what is the new value of the dollar? b. If, instead, the price level falls to 0 ...
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Sally purchases hardwood lumber for a custom furniture-building shop. She uses three suppliers, Northern Hardwoods, Mountain Top, and Spring Valley. Lumber is classi ed as either clear or has defects. Sally estimates tha ...
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What are the minimum, first quartile, median, third quartile, maximum, interquartile range, and range of the data set below? Make a box-and- whisker plot. 25, 25, 30, 35, 45, 45, 50, 55, 60, 60
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Suppose Oregon proposes indexing the minimum wage to inflation. Describe the substitution and scale effects you anticipate with this policy? (In your response, assume that the minimum wage is an effective price floor and ...
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