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In the short run, a competitive firm has a marginal product of labor, MPL = 5L^ -0.5. The output price is $10 per unit and the wage is $7 per hour. What is the short-run labor demand curve for the firm?
Business Economics, Economics
In 2013, Gallup conducted a poll and found a 95% confidence interval of the proportion of Americans who believe it is the government's responsibility for health care. Give the statistical interpretation. I do not underst ...
This problem involves the flipping of a fair coin. Assume that the coin is flipped 3 times, and the random variable X is defined to be 4 times the number of heads minus 5 times the number of tails. How many different val ...
In one of your classes the syllabus states that HW is worth 10%,quizzes 20%, test 40% and the final 30%. Your grades on the HW is 80, quizzes 75 and tests 68. What is your current grade in the class? What do you need to ...
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 ...
In a survey of women in a certain country? (ages 20-?29), the mean height was 65.3 inches with a standard deviation of 2.71 inches. Answer the following questions about the specified normal distribution. ?(a) What height ...
A firm has hired you as a consultant. This firm is perfectly competitive and has no control over price. This firm is selling 10,000 units at a price of $4. Total costs are $30,000. Total variable costs are $25,000. They ...
A U.S. electronics ?rm is considering moving its production to a plant in Mexico. Its estimated production function is q = L0.5K0.5. In the U.S., the wage, w is ten dollars, and the cost of capital, r is also ten dollars ...
A cartel is branch of an oligopoly. There are still a handful of large firms and many smaller firms. For instance, the diamond industry and the petroleum industries are examples are oligopolies. However, the main differe ...
A mixture of three water samples will test positive for a contaminant if at least one of the samples contains it. If the contaminant is present in 7% of samples, find the probability that: 1. The mixture tests positive: ...
In a survey of first graders, their mean height was 49.9 inches with a standard deviation of 3.15 inches. Assuming the heights are normally distributed, what height represents the first quartile of these students?
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