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Below is a draft of my daughter's college scholarship application essay. I would appreciate if a few of the Jiskha gang could
2 answers
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You should start a new post instead of adding on to an existing post.
That said, I would go with A Which of the following
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First the denominator. There are 8*7*6*5*4*3*2*1 = 40320 ways the 8 friends could be seated.
Now the numerator: There a 6
3 answers
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"appropriate" is a loaded and subjective word. Further, some government activities and programs could be widely viewed as
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1) No, 8.0 is the correct answer.
2) a strange and unlikely probability distribution. But lets go with the stated parameters. It
0 answers
625 views
If your are in a first-year macro economics course then...
1) yes government purchases can increase total income. 2) cutting
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Answers (1,111)
Is there a question here?
In economics "captial" generally means one of two things. First is physical capital which is, as you state, a means of production e.g., machinery. The second is financial capital e.g., cash. Now then, it is a bit easier to relate financial capital to
I presume you can determine the price the monopolist will charge. (hint: MR=100-2Q, MC=10) Draw a graph showing the demand line, the MC line, the MR line, the maximizing price and quantity. Consumer surplus will be the triangle area below demand but above
The probability of not hitting oil is .8 The probability of not hitting oil in 5 tries is .8^5 = .32768. Ergo, the probability of getting at least 1 hit is (1-.32768) = .67232
1) 200*34.5*(1.01) = 2) 13459*(1.0675) =
There are a number of ways to solve this problem. Here is one. The standard deviation of a binominal is sqrt(n*p*q) where p is the probability of an event and q is 1-p. So, SD = sqrt(25*.38*.62) = 2.427 The expected number that 6 hours or less is .38*25 =
I'm having trouble coming up with a "common" circumstance example of why a firm would purchase an annuity. Annuities generally lose their liquidity. The most common reason why a firm would hold a pile of cash is to have cash reserves -- to pay for
If the $1892 was earned income (e.g., wages), the person would likely receive a hefty $757 earned income tax credit, which would be included in any "refund" check the person would otherwise receive.
I don't understand your demand equations. You state the demand for text books is: m 2py Could you elaborate and explain your terms? I would expect the demand function for text books to be some function of the price of text books and income. Regardless, the
ATC should be equal to $4 under the conditions you state
At .1 per pound, the variable cost per bag is $5. Let n be the number of bags at break-even. So Tota revenue is 10*n. Total costs are 80000+5*n. Break-even is 10*n = 80000 + 5*n -- use algebra and solve for n.
How bout "from this group of 550+300+850=1700 students"?? Assumeing that you meant 1700 students, there are 400 from School A that took the bus. Ergo, P=400/1700 = 23.5%
then potentially a lot of things. 1) The industry is perfectly competitive (or nearly so) 2) Implying that no single firm has a "large" market share. 3) Implying that each firm in the industry produces a product that is not distinguished (different) than
I beg to differ. For a 20% increase in revenue to occur, people would need to purchase the same physical amounts of taxable goods and services they previously did and actually spend 1% more. This is unlikely because 1) with the effective higher prices, and
Lets start with the assumption that the firm, prior to the settlement, was operating at a profit-maximizing level; where Marginal Costs=Marginal Revenues. From the information, the firm must have some monopoly power. it sets a price above MC, and is
see my post above.
See my post above.
see my post above.
I don't understand why total fixed costs should ever be a major component to a calculation that should be made on the margin. The question is simple, does the expected additional revenues (MR) from the added sales force exceed the expected labor costs (MC)
Do a little research, then take a shot. What do you think? Hint: simply understanding how a fixed exchange rate differs from a floating rate should answer most of your questions.
Do a little research, then take a shot. What do you think? Hint: Be sure to understand import substitution policies vs export promotion policies. Hint2. How will foreign countries respond to such policies?
Excek spreadsheets are very helpful for these kinds of problem. a) the probability of selecting a female is .3*.4 + .5*.5 + .2*.5 = .47. Ergo, the probability of picking a male is .53. The probability of picking all males is .53^50 = something really
So, I take it, this is a two-by-two table. The rows are Indian River and Interior. The columns are also Indian River and Interior. What are the values in the tables? That is, what do they measure or represent??
Because leisure is a normal good. If you cut income taxes, then the after-tax income for each hour worked goes up. This effect alone should cause a person to want to work more. This is the direct substitution effect labor-for-leisure. However, leisure is a
Let me elaborate with an example. Say something costs 2 euros and the euros to dollars ratio is 1. So, I need 2 dollars to purchase. (I take my 2 dollars to the exchange, and get 2 euros). Now let the euros/dollars exchange ratio drop to 0.5 NOW, I need to
I'm having mucho trouble here. I need to see the table to see what is going on.
In the long run, in an open economy, imports=exports. If a country limits imports but continues to export, then goods are flowing out and foreign currency flows in. What good is that foreign currency if the holders cant buy anything with it? (Think about
I think of the exchange rate as the number of a foreign currency units per dollar. e.g., euros/dollars. From this perspective, the statement makes perfect sense.
Do a little research, then take a shot. what do you think. Hint. Be sure to read up on Monetarists, and the quantity theory of money.
Do a little research, then take a shot. What do you think? Hint: be sure to read up on the money multiplier.
Take a shot, what do you think? Hint: just use common sense to answer this one.
Do a little research, then take a shot. What do you think?
do a little research, then take a shot. What do you think? Hint: think about what money is and can do for you. Physically, money (cept coins) is nothing more than a printed piece of paper
First, calculate the mean (average) number days lost. The deviation, for any observation, is the difference between the observed value and the mean.
The Phillips curve plotted inflation against unemployment. So two correct answers: low inflation/unemployment or low unemployment/inflation
Dell, HP, and Gateway largely build PCs which run on Microsoft, while Apple has its own operating system. So, HP and Gateway PCs are much closer substitutes for Dell PCs
I think your first sentence is right. However, your reasoning is a bit off-base. Pareto-efficient implies that people with a marginal benefit above the marginal cost of producing the good can purchase that good. The above reasons you gave for deadweight
I'm not sure what you are asking. That said, in cost-benefit analysis doesnt necessarily mean if one gains someone else must lose. A coomon social policy question asks whether some change in policy is a good idea or not. Under a pure pareto requirement you
Like some of your earlier posts, some critical information is missing. What is the price of a cart? and what is the useful life (in years) of a cart?
a) put income on the x-axis, consumption (and savings) on the y-axis. At x=100 and y=150 put a dot. At x=200 and y=200 put another dot. Repeat for 300 and 400. Connect the dots. b) slope is rise over run. With each 100 increase in income (run), consumption
Something is missing here. You don't present the estimated equation, only one observation. Plz re-check your problem and then repost if you are still having trouble.
Savings = income - expenditures. So, for the first example savings =-50
Use the multiplier. a) 8*10=80, b) -5*10=-50 and c) 20*10=200 Again, Am I missing something, some part of the problem, here?
I have the feeling I am missing something. Are the questions referring to some graph which I don't see??
The two firms agree to act as a monopolist. Sinc MC is zero for both firms, they will produce where MC=MR=0 (where MR is the combined MR for both firms). And when MR=0, the elasticity of demand is -1. So b is true. Now at this optimal production point,
I suspect there is something more to your question. The short, obvious answer is that output per worker increases.
In the UK it costs 6 cloth to get 2 wheat. Ergo, cost for 1 wheat is 3 cloth. In US it cost 5 cloth to get 1 wheat.
Integrate the MC function. MC is the first derivitive of TC. So, TC = 10Q + (5/2)Q^2 + C
I don't know what "artifical supply creates artificial demand" means at all. A price ceiling that is below the otherwise equilibrium price creates a market shortage. (illustrate this on a supply-demand graph). I like your sentence about the black market.
Can you assume the probability of success is the same for everybody? Does success for 12 mean that each person was successful? If so. Let p=probablity of success for one person. Let x be the known probability of success for 12 people. So for 12 people p^12
