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Someone says, "Pollution should be reduced until the marginal social benefit of further reduction is zero." Explain why an economist would agree (or disagree) with this statement.
Business Economics, Economics
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A population has a mean=72 and a standard deviation σ=28. Find the mean and standard deviation of a sampling distribution of sample means with sample size n=49.
Assume that these data are seven random observations taken from a larger population whose values are normally distributed. (even if this assumption makes little sense) Using this assumption, coupled with prior computatio ...
Some seem to believe that we should be pure maximizers. Others say that we do better as constrained maximizers. Which view does David Schmidtz endorse and why?
What is the difference between accounting costs and economic costs? Why do economic costs include both explicit (revealed and expressed) costs and implicit (present but not obvious) costs? What are the differences betwee ...
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 ...
Consider the binomial distribution where n = 11 and p = 0.05. Find the mean and standard deviation of this binomial distribution. The customers at a local appliance store are polled as they leave the store. Each is asked ...
A forced-choice design is often used to compare the attractiveness of pheromones to insects. A Y-tube is used. The pheromone is place on one branch; the control on the second branch; and the insect on the third branch. T ...
In the U.S., 82% of police officers have graduated from a police academy. If 300 police officers are chosen at random, what is the probability that at least 75% have graduated from a police academy? Keep intermediate ste ...
A recent study revealed that 60% of employees use their smart phone during work hours for non-work related purposes. Suppose you randomly observe 100 employees and record whether the employee is using their phone for non ...
What steps do I take to calculate, At what prices would Google have to close in order for it to be considered statistically unusual? You will have a low and high value. Use the definition of unusual from the course textb ...
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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
Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p
Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As
Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int
Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As