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Suppose that Lorena consumes only three different goods: steak knives, butter knives, and butcher knives. If, according to Lorena’s preferences, butter and butcher knives are inferior god, must steak knives be a normal good?
Business Economics, Economics
A communications company offers 16 different television packages and 16 different internet packages. Of those, 5 packages include both television and internet. How many ways are there to choose either television or inter ...
There are 13,011 eligible voters in one town. In a poll of 827 eligible voters from this? town, the proportion who say that they plan to vote in the next mayoral election is 0.47. Based on that sample? statistic, what is ...
How can local the local government help prepare employees for higher level positions in the organization.
Suppose the timing device used in the men's race failed to activate at the start of the race and instead began to record the times seconds into the race. Consider how the competitors' times would be affected. Would th ...
Assume that a salesman learned the price elasticity of demand for his products is -2.0. How many percent will increase in the total sales (revenue) if he cuts the price by 10%? Show your calculation process.
You spoke with 10 people you know and found that they went out 3, 2, 1, 5, 4, 2, and 3 times last week. You then would choose to calculate a 95% (or another level) confidence interval for the population mean.
Suppose demand and supply are given by: Q d x = 14 - 0.5 P x and Q s x = .25 P x - 1 a) Determine the equilibrium price and quantitiy. b) Suppose a $12 excise tax is imposed on the good. Determine the new equilibrium ...
A firm produces Product A and Product B. This years sales price of Product A have decreased tremendously, and the sale of Product B has increase by 10 percent. The firm has threeemployees that can produce Product A and f ...
Suppose a soft drink company want to perform a taste test on 5 brands of diet cola. How many permutations are there for presenting 5 diet colas to test subjects?
Suppose that Third National Bank has reserves of $20,000 and check able deposits of $200,000. The reserve ratio is 10 percent. The bank sells $20,000 in securities to the Federal Reserve Bank in its district, receiving a ...
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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