Markets for Factors of Production

Robert hires workers to pack the Haskap berries he is growing.

The market for Haskap berries is perfectly competitive, and the price of Haskap berries is $2 per bucket. The labour market is competitive, and the market wage rate is $16/hour.  

Table 1.0 below shows the workers’ total product schedule

Table 1.0

Answer the following:

1. What is the marginal product of the third worker hired, and what is that worker’s Value of Marginal Product?

2. How many workers will Robert hire to maximize profit and what will the workers produce?

3. If the market wage rate rises to $20/hour, how many workers will Robert hire?

1

INSTRUCTIONS

1. What kinds of items have served as money in the past? Provide three examples.

For each example, explain why the use of that item did not continue?

2. Discuss the characteristics of money and provide an example NOT indicated in the text for each of the four characteristics.

3. Why are chequing accounts also called demand deposits?

4. Why are savings accounts also called time (or notice) deposits?

5. Are credit cards money? Why or why not?

6. What is the bank rate at the Bank of Canada as of today? Do you consider that low or high? Why?

7. What are the five primary functions of the Bank of Canada?

8. Who is the Governor of the Bank of Canada?

9. What is the name of the policy conducted by the BoC to stabilize the economy?                             
10. List the 2019 revenues of the top five banks in Canada.

11. All students are to review the MLA tutorial posted on BB. You are to report back THREE things that you learned that you did not know before this exercise. Take screenshots of the three areas you learned and attach to your word document

An herbal medicine is tested on 10 patients with sleeping disorders. The table below shows the hours of sleep patients got during one night without using the

herbal medicine and the hours of sleep the same patients got on another night after the herbal medicine was administered. Assume underlying normal distributions. Remember the applets will only accept one word labels. Data must be organized in columns.

Patient 1 2 3 4 5 6 7 8 9 10

Hours

without 1.0 1.4 3.4 3.7 5.1 5.1 5.2 5.3 5.5 5.8

Hours

with 2.9 3.3 3.5 4.4 5.0 5.0 5.2 5.3 6.0 6.5

a. At a= 0.01, does the herbal medicine increase the number of hours of sleep during one night?

b. Construct a 95% confidence interval for the mean difference.

c. What is the point estimate for this interval?

d. What is the margin of error for this interval?

e. Interpret the confidence interval in the context of this problem.

Thomas, a poor university student, and his millionaire Dad enter into an arrangement where Thomas agrees that he will keep the front and backyards of the family property mowed, and he will ‘do a bit’ to keep the gardens looking tidy. In return, his Dad agrees to pay him a weekly allowance of $200. His Dad had previously used a garden contractor to do the job and paid him $350. They live on a large property, and the mowing alone takes half a day a week. After four weeks, Thomas’s Dad tells him that he can’t afford to pay $200 a week. He says that Thomas should be doing the work for nothing, as it is the responsibility of the whole family to look after the property; besides, he says, Thomas is getting free board and lodging. Advise Thomas on whether there is a contract between him and his Dad which the court will enforce. Required: Answer this question using the IRAC * method. (Word limit: Minimum of 300 words. Maximum of 400 words)

An extract of the Asset Register of Ace Pty Ltd (“Ace”) for the 2018 - 2019 Income year is shown as follows: Asset Cost Opening Adjustable Value Method Effective Life Decline in Value for This Period Closing Adjustable Value Printer 1,200 1,200 Diminishing Value 3 years 400 800 Desks 3,000 2,400 Prime Cost 10 years 300 2,100 Appliances 2,600 1,040 Prime Cost 5 years 520 520 All depreciable assets are 100% for business use and Ace uses a low-value pool for all eligible assets. The closing value of the low-value pool at 30 June 2019 was $8,000. Ace purchased a camera on 20 Jan 2020 for $840. Advise Ace of the Income Tax consequences arising out of the above information for the 2019 - 2020 Income year assuming Ace is not a small business entity. (7 marks. Word limit: Minimum of 120 words. Maximum of 150 words)

You will write a single class named WordsXX- replace the XX's with your initials.

The program will have 2 overloaded methods named wordMaker. They will have to be declared as static. Both methods will not have a return type but they will print some text.

The first method wordMaker signature will not accept any parameters and when invoked will simply print out the line "lower case words".

The second overloaded wordMaker method will accept an integer and print "Words in UPPER CASE" . The method will print the phrase as many times as the parameter indicates with each new iteration printed on a new line.

Write a main method that prompts users to enter either the word "lower" or "upper". (Make sure you allow for all varieties of capitalization.)

If they enter "upper" then generate a random number from 3-9 and call wordMaker to print the upper case phrase that many times.

If they enter "lower" it will use the other version of the method.

can you guys do it right now please this is so urgent please do it Java

Q68 A branch of BNP-Paribas has an attractive credit programme. Customers meeting certain requirements can obtain a credit card called “BNP Wunder”. Local merchants in surrounding communities accept this card. The advantage is that with this card, goods can be purchased at a 2% discount and further, there is no annual cost for the card. Past data indicates that 35% of all card applicants are rejected because of unsatisfactory credit. Assuming that credit acceptance, or rejection, is a Bernoulli process, and samples of 15 applicants are made. [8 Marks]

(a) Develop a probability histogram for this situation.

(b) What is the probability that exactly three applicants will be rejected?

(c) What is the probability that at least three applicants will be rejected?

(d) What is the probability that more than three applicants will be rejected?

(e) What is the probability that exactly seven applicants will be rejected?

(f) What is the probability that at least seven applicants will be rejected?

(g) What is the probability that more than seven applicants will be rejected?

DO NOT WRITE THE ANSWERS - USE WORD FORMAT.

Please show any calculations.

1. Your local Target store has reached out to you to design a survey. They would like you to design a 4-question survey. Two questions should yield categorical data and 2 questions should yield quantitative data. Please list your survey questions below.
2. Imagine that you bring your daughter to the doctor and she comments on how tall you are, stating “Wow you are tall, only 8% of the population is taller than you!” However, you recall talking about percentiles in our Intro to Stats Class. Rewrite that sentence correctly using the word ‘percentile’:
3. Driver’s education test scores could be described by a normal distribution (bell-shaped) curve. If the mean score was 45 and the standard deviation was 5, what percentage of the students could be expected to score between 45 and 50 points?
4. Give one example of how statistics can help you make more informed choices in your life.