One obvious bit of evidence is the actual presence of e-commerce. Retailers, etc. would not bother with e-commerce (at least in any serious way) unless e-commerce were profitable. That said, here is a link to a department of commerce study on the growing size of e-commerce. ww...
You have not provided enough information to calculate the CPI. You need the price and quantity of every good in the fixed basket in 2005. You have only provided price and quantity in 2006.
Jen: If you went to the wikipedia site suggested by SraJMcGin, you would have the formula for calculating probabilities following a poisson distribution. The Poisson distrbution is f(k,a) =(a^k)*(e^-a)/k! where a is the expected observed in a time period, and k is the actual o...
The probability of seeing the first 61 in a batch good and the last 3 defective is (.96)^61 * (.04)^3 = X Now then, count the number of ways a batch of 64 could have exactly 3 defectives. The formula for n-choose-c or 64-choose-3 is (n!/c!(n-c)!) (where ! means factorial). 64!...
First calculate the "weight" of each good -- that is the percentage of total expenditures spent on that good. In 2005, $100 are spent on apples, $100 on bananas, for a total of $200. The weight of apples is 0.50 In 2006, price of apples went up by 100%, price of bana...
The guy wants to consume 30,000 in t=1, but has y=60,000. So, he could in t0, borrow amount L. Since he will need to pay interest, at 6%, on the borrowed amount. So he wants L*(1+.06) = 30000. Solve for L. -- this being the additional consumption in t0.
take a shot. what do you think?
take a shot. What do you think. Hint: what could a spread between short-term rates and long-term rates imply about what people see in the future.
One important point to keep in mind: value of a currency is simply the price of that currency stated in terms of a different currency. For example, the value of a Euro is the number of Dollars it takes to purchase a Euro. And, equilibrium is determined by the intersection of s...
Hummmm. In a world of fixed, non-renewable (natural) resources, I would agree with your answer. However, I think you may have over-analyzed this problem/question. Further, your original question asked about capital goods. In general, one makes capital goods today so that one c...
see my post above.
If there is, in fact, no seasonal pattern, then the parameters on the dummies ought to be zero (or very close) and insignificant. So, yes, they should not affect the estimation. However, the dummies might be picking up something else besides seasonal variations. Unless you hav...
It would be represented as a point (or possibly a curve) inside the PPF.
I get: u=.66666667 ss=8 v=1 sd=1 Note that I am using the formula for the estimate of the variance from a sample. So, I devide by n-1.
I or others will be glad to critique your answer. But first, you must let us know what your answer is.
Currently the measure of GNP excludes imports but includes exports
I do not understand your question: Are you asking about what shifts the supply and demand curves for American Autos? Are you seeking elasticity estimates of supply and demand?
How bout air pollution?
False. The production possibilities frontier (ppf) shows the maximum possible production when all resources are used efficiently. So, hiring unemployed workers should have no effect on the PPF. However, acquiring new workers through, say births or immigration, would increase t...
This is a question that could easily be answered by the Federal Reserve's Survey of Consumer Finance. (The survey is a publically available micro-data file) Unfortunately, I do not know if your particular desired statistic has been tabulated and published by the Fed/SCF. I...
Think it through. If you understand what a ppf curve represents, then aha, it must be downward sloping. What condition(s) must be true if the ppf is a straight line?
Ah, but remember, the expected $100 is 3 years hence. Is $75 compounded over 3 years at 10% greater than 100?
Good question. Think it through, then take a shot. Hint: Person A obviously values the concert itself at $5 or more (he voluntary traded a $5 bill for a ticket). How much does person B value his ticket?? And, can you say anything about each person's aversion (or additional...
yes. But be sure to compound he interest.
Take a shot. What do you think?
In year 0, he has B0=42,180.53 In year 1, he has B1=B0*1.12 + 5000. In year 2, he has B2=B1*1.12 + 5000. Continue until Bn >= 250000.
An Excel spreadsheet is very good for these types of problems.
The short-cut method is to use the Rule of 72. That is 72/rate = time needed for investment to double. So, 72/6.5 = 11.08 years Or you could do in more precisely by compounding an investment by 6.5% until it doubles.
An excel spreadsheet would be very helpful for this kind of problem. Set up a month-by-month income, expenditure, and net savings rows. See if problems arise.
You probably already know the general answer. Direct your advertising to high school seniors or parents of high school seniors. Advertise near graduation time. Emphasize accomplishment.
Human Resource Management
As a suggestion, think about how management would change in light of the changing technology that allows workers to tele-commute (i.e., work from home or, really, any location)
I believe the answer is 'none of the above' The formula for the confidence interval is: P +or- Z(99) * sqrt(P*Q/n) P is the estimated probability of attendence = 750/1100 = .6818 Q = 1-P n = sample size = 1100 Z(99) is the number of standard deviations away from the me...
First, relax 1) With your sample of 30, calculate the mean (average) travel time and the standard deviation. (I presume you know how to do these calculations). 2) Calculate the number of standard deviations that 45 minutes is away from the mean. That is X=(mean-45)/SD (mean an...
An increase in demand is shown by the demand curve moving to the right.
see my later post to your question
If foreigners are buying more US goods, exports go up. Exports, being a component of aggregate demand, cause aggregate demand to increase -- shift right.
Depends on who is buying the bonds. If the Fed, then no, if the public, then yes.
I think it will move to the right
I think the answer is A. First, lets ask the question, What is the opportunity cost of money for the borrower. I think its the cost of OBTAINING money. The opportunity cost of getting a dollar today is having to pay a dollar plus interest next year. So, if interest rates rise,...
Take a shot. What do you think. Hints: The change in TVC is MC. The firm will maximize when P=MC
1) I agree 2) I disagree. I would go with "unemployment rate" 3) I agree 4) I would go with "full employment" 5) I agree 6) I agree
1) I would go with cyclical unemployment 2) I would go with frictional unemployment
Take a shot. What do you think?
Hummm, why to the left? I would think aggregate demand is increasing which is represented by a shift to the right.
Individual Income tax
Assuming that the bond is a simple-interest bond..... In year 1, the bond pays 100*.04=$4. In year 2 the bond again pays $4. In each of the years 3,4, and 5 the bond pays $4. So, over 5 years, the bond pays..... (Note that some bonds pay compounding interest (the "interes...
I would have more confidence in the sales at the $55,000 expenditure level. Think it through, then take a shot.
I think I see your issue. You are testing whether the male distribution fits the female distribution. So, treat the female distribution as the expected distribution (E), and the male distribution as the observed (O). (Chi squared) = sum[ (O-E)^2/E ] 10 degrees of freedom.
I think I see your problem. The IF function in excel is: @IF(logical test, value if true, value if false) So let column A be price, B be quantity, column C be receipts after discount. So for any sale (row i), put in the C columns cell row i: @IF (Bi >= 2, Ai*Bi*(1-$I$1), Ai...
well, if you are allowed to remove some letters, fortunateness would work
Do a little research, then take a shot. Here is a web site that gives a good synopsis of the issue. http://en.wikipedia.org/wiki/Externality
I would modify property rights to be intellectial or non-tangible property rights
You are very close. Check your arithmatic. To avoid confusion, I will use Pn to mean P2 (price in period 2) You have, as stated (Pn - 2)/((Pn + 2)/2) = 0.5 So, solve for Pn. First multiply numerator and denominator by 2/2 (=1). You get: (2Pn - 4) / (Pn + 2) = 0.5 Now multiply ...
scale: 40ft per 16 inches, or 40x12in/16in or 30 to 1.
Blue laws in the US marriage You can get a wealth of information on those.
It is an organic acid, based on cyclic hydrocarbon structure, it is corrosive, covalent, and is used in derivative form in many cancer chemotherapy drugs. I have no idea what type of descriptor you were looking for.
Follow the simple annuity formula. (Google: annuity, formula for more information and explanations) P = B / ( (1 -(1/(1+i)^n) / i) where i= interest rate = .05 n = number of year = 20 B = initial balance = 300,000 hint: for P, I get 24,072.78
Ok, you will need 4 items to plug into a formula for calculating the bond price. 1) cash flow (CF). The bond pays semi-annually. So, each payment is 400,000*(.07/2) = 14,000 2) yield rate or interest rate (i). The annual rate is given as 8%, so the semi-annual rate is 4%. 3) P...
Yours is not really a math question but.... Most large business in the U.S. use what is termed the Modified Accelerated Cost Recovery System (MACRS). There are of course exceptions. Most importantly, small business can use the method referred to as Section 179 expensing.
Hannah. I believe you are correct. The answer by Im Not So Smart is clearly wrong.
Public Administration / GOVT
Hummmm, as I re-read your question, I have my doubts about the answer. According to Census data, school districts have the greatest number local-government employees. However, Im not sure which has the greatest number of ELECTED officials. I'll bet a census-of-governments ...
Public Administration / GOVT
Its not an easy question. And the answer is not obvious. The correct answer, according the Census bureau, is C. google your key words, find a link that points to allcounties dot org (sorry, I am not allowed to post links to websites)
Calc w/ Business
my bad. it's -4ac in the quadradic, not +4ac
Calc w/ Business
To find a maximum, set your marginal revenue (R') equal to zero. Now then, R' is a quadradic equation. So, use the quadradic formula. -b +- sqrt(b^2+4ac) / 2a
I suggest you google the following: economics, endogenous, defined In an economic model, endogenous variables are items that occur within the model, and are usually predicted by the model. So, in a business cycle model, the level of GDP or the change in GDP would be endogenous...
Wikipedia has a good explanation, and includes a graph over the common three stages of production. Go to Wikipedia and find: Production_function
Math For Business
You have: Max (.06*B + .12*G + .20*S) subject to: B+G+S = 90,000 G+S <= 22,500 G >= 15,000 You could set this up as a linear programming problem. However, getting to the optimal solution is obvious. G=15,000, S=7500, B=the remainder
Think it through... If a quarter has approximately 90 days and purchases in 30 of those days, the payment will be in the following quarter, and for purchase in 60 of those 90 days, the payment will be made in the current quarter.... means?
If I were writing such an essay, I would first discuss the multitude of ways that technology has lowered transaction costs. I would discuss improvements in speed and reliability. Then I would try to work in something about Types of labor (jobs) being phased out. Types of labo...
MANAGERIAL FINANCE plz help!!
Think it through, In Excel, calculate the present value of the income stream till age 60 under both options. A coupla a complications to think about. First, I personally would think that tuition costs ought to be paid for with borrowed money. So, I would add borrowing costs to...
Go to Archives dot gov. There is a link to a history of the declaration of independence. BTW, the site contains the following sentence: "Timothy Matlack was probably the engrosser of the Declaration." Not exactly a female name, but there you have it.
What is a PAE equation. (if PAE refers to Post-Autistic Economics, then I am afraid you are dealing with a new area of econ which I am unfamiliar with)
Do some research, then take a shot. What do you think?
Start by drawing supply and demand curves and solve for an equilibrium price and quantity. Now draw in the quota. Dead weight loss will be the triangle area which is: a) to the right of the quota b) under demand, and c) above supply you may need to use some basic algebra/geome...
see my post to jennifer (just below this post) for a good hint on how to solve this problem. Repost if you have questions.
Drawing a picture would help. A normal monopolist would set MC=MR. Under this example, optimal Q=80, thus P=60. Total revenue is 80*60=4800. Total cost (represented by the area under MC between 0 and 80) is 80*20=1600. So, profit = 3200. For the perfect price discriminator, to...
The industry supply curve could be written as Q = 500+50P Alternative, using some algebra, industry supply curve is also: P = Q/50-10 (where Q = industry supply) Check it out, solve for P when 500 + 50P = 1500-50P (my bad, I used a big Q instead of a small q in my original post.
Yesterday, a person under the user-name of "timmy" posted a very similiar question. Questions a and b were addressed in that post. c) You are given the short run MC curve. AC is simply TC divided by Q. So, SAC = .5Q - 10 + 200/Q To find the minimum, take the first de...
Yes, you are on the right track. You have the equilibrium price, P=10. At P=10, average revenue must also be 10. Average cost is 10, so profits are zero.
With identical cost structures, the firms, in the long run, will all end up producing where the AC is minimized. So, P=10, plug this into the demand equation to get total Q. Take it from here
I hope I gave you enough information in your latter post. Repost if you need more help. Question: does qi mean "quantity produced by firm i"?
Do a little research, then take a shot. Hint: draw a picture; the MC must cut the AC curve a the minimum point of the AC curve.
6a) With shrinking beef consumption, which beef production operations (including ranchers, and meat packagers) will be shut-down? The high-cost producers or the low-cost producers? I would go with 'yes', marginal costs will be lower. b) I agree. 9a) In a competitive in...
What is an honor card? If an honor card is a face card (J,Q,K), then there are 12 honor (face) cards in a deck. So a)=1/12 For b) there are 20 numbered cards that are even. There are 2 red fours, So, b)=2/20
Hummm, I do not agree with your answers a-d. a) given that a diamond was turned, it must have been an ace or king. So for a) I get 1/2. b) given that a club was turned, it must have been a king. So for b) I get a zero probability. Now then, notationally, does P(A/C) mean proba...
Generally NO, tariffs do not help maintain a favorable balance of trade. Tarriffs are a tax on goods coming in (imports). They do not affect, directly, goods going out (exports). Take it from here.
math - statistics
Take a shot. What do you think. Hint: an Excel spreadsheet is very helpful for these types of problems.
An excel spreadsheet is very handy for these types of analyses. I'll do the first one, which should give you a process for working the second. First calculate the net present value for the cash flows for years 0 to 10. 0 = -100000/(1.08^0) = -100000 1 = 0 2 = 0 3 = 16000/(...
I agree with Ms Sue's Answer. That said, the theory of the Oligopoly is a complicated one. With a oligopoly, the possibility of collusion exists, even if it is not explicitly observed. That is, the firms have agreed, well in advance, that whenever one firm changes it's...
I am confused by "$60 a minute". Could you mean fixed cost is simply $60. Let me assume just that. Fixed cost=$60. So, when output=1, then total cost = 10+60=70, marginal cost = 10, AFC=60/1=60 AVC=10/1=10 ATC=70/1=70 When output=2, (assuming MC=10) then Total cost =...
a) the short-run supply for each maker is their MC curve, The supply curve for the industry is the sum of the supply curves from each firm dis-regarding the constant, so... supply = 100q+10 b) given your demand equation, there is no equilibrium value with a positive production...
For this and your other questions, do a little research, then take a shot. What do you think? I or other will critique your answers.
Statistics- quick! Is this right?
1) looks correct For 2) You have an standard error of 500, and are asked what is likelihood of similar sample being within 1000 or 2.0 standard deviations away from the mean. Look up 2.0 in your cumulative normal distribution table (probably in the back of your stats book). I ...
Always always always where MC=MR With your givens, I must assume that MC=AVC=20 at one PARTICULAR PRODUCTION LEVEL, and MC=ATC=30 at another PARTICULAR PRODUCTION LEVEL. Both statements cannot be true at the same production. So, I presume that the firm has a normal increasing ...
Take a shot. What do you think.
Take a shot. What do you think. Show some work.
This is a binominal distribution -- either the car has problems or it doesnt. With n=128, the expected mean number with problems is .14*128=17.92 The standard deviation is sqrt(p*q*n) = sqrt(.14*.86*128) = 3.9 .18*128=23.04, which is 5.12 above the mean or 5.12/3.9=1.31 standa...
a) when output is 2, from your table, total fixed costs are $5 and total variable costs are $27. Simple arithmatic. b) marginal cost is the change in cost from a marginal (e.g., 1 unit) change in production. c) always always always, profit is maximized when marginal cost=margi...
I would argue that cotton is also a variable cost. The amount of raw cotton the mill buys should be in direct proportion to the level of output.