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Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers.
Explain at what price of computers (in terms of shirts) the two countries might trade.
Business Economics, Economics
What is the result of a price ceiling? And why do some consumers tend to favor price ceilings and others tend to oppose it?
Determine the minimum sample size required when you want to be 98% confident that the sample mean is within two units of the population mean. Assume a standard deviation of 4.82 in a normally distributed population.
Suppose that the weight (x) in pounds of a 30 year old man is a normal random variable with mean 182.9 and standard deviation of 20lbs. in what percentile is a 30 year old man who weighs 150lbs?
Consider the following series of payments: Year 0: 20 Year 1: 30 Year 2: 40 Year 3: 10 Year 4: 5 Using an interest rate of 10%: a. What is the present value of this series of payments? b. What is the future value of this ...
First two questions, Demand: Q d = 175-.5*P Supply:Q S = 1.923*P - 163.462 There is a $50 unit tax on the supplier side. what is the new equilibrium price? I know the new price is 179, looking for the formula explainin ...
The market for truck hoods is perfectly competitive. The current equilibrium price is $500 and 80 units are sold per day. Suppose the own price elasticity of demand is -0.4 and the price elasticity of supply is 1.5, and ...
What is monetary approach in Neoclassical Economic Theory? How is poverty defined under the monetary approach? What are the two main reasons that cause poverty under Neoclassical Economic Theory? Briefly describe each on ...
Suppose P(A)=0.2 P(A)=0.2 and P(B)=0.4 P(B)=0.4.If A and B are disjoint, what is the probability that A or B occurs?P(A∪B)= If A and B are independent, what is the probability that A or B occurs?P(A∪B)=
Discuss three ranges of the aggregate supply curve. Explain changes in the AD-AS macroeconomic equilibrium due to the aggregate demand shifts and due to aggregate supply shifts. Apply the AD-AS model to the two types of ...
A lottery game has balls numbered 1 through 19. What is the probability of selecting an even numbered ball or a 9
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