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What is the effect of changes in gasoline prices on the demand for restaurant meals? Is gasoline an economic complement of restaurant meal Are restaurant meals an economic complement of gasoline
Business Economics, Economics
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Tom's income is $480and he spends it on two goods, X and Y. His utility function is U = XY. Both X and Y sells for $8 per unit. a. Use lagrangian function to calculate Tom's utility-maximizing purchases of X and Y. b. ...
After paying $1.50, you are allowed to open a newspaper vending machine freely (i.e. get as many as you want). In contrast, a soft drink vending machine only drops one can after you pay the same amount of money. Why? Ple ...
A sample of 20 has a mean of 100 and we can use a standard deviation of 10. If we test this at an alpha of 0.05? What would be your conclusion and interpretation? How did you arrive at your conclusion?
In a survey of 2936 adults, 1431 say they have started paying bills online in the last year. Construct a 99% confidence interval for the population proportion. A 99% confidence interval for the population proportion is ( ...
A study sample was done regarding the association between family history and the risk of developing AD. Exposure were family history of AD and no family history of AD. Outcomes were development of AD or no development of ...
How can a graph or chart of data help you understand the results? What is a frequency table? Describe an example where a frequency table can be used in life.
Cheeseburger and Taco company purchases 16,935 boxes of cheese each year. It costs $27 to place and ship each order and $8.17 per year for each box held as inventory. The company is using Economic Order Quantity model in ...
Consider a French-owned cheese factory located in Paris, France. Are the goods made by the cheese factory part of the U.S. Gross Domestic Product (GDP)? Are these goods included in the U.S. Gross National Product (GNP)? ...
1. What are the modern, firm-based international trade theories? 2. Describe how a business may use the trade theories to develop its business strategies. Use Porter's four determinants in your explanation. 3. What is th ...
Patients C and D live in the U.S., where lawyers are paid contingency fees, and the cases are comparable in the sense that the probabilities of receiving compensation are the same. However, patient C lives in a state whe ...
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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
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