Two years ago, a large number of firms entered a market in which existing firms had been earning positive economic profits. By the end of last year, the typical firm in this industry had begun earning negative economic profits. No other events occurred in this market during the past two years.

1. Explain the adjustment process that occurred last year.

2. Predict what adjustments will take place in this market beginning this year, other things being equal.

A gambler plays a dice game where a pair of fair dice are rolled one time and the sum is recorded. The gambler will continue to place $2 bets that the sum is 6, 7, 8, or 9 until she has won 7 of these bets. That is, each time the dice are rolled, she wins $2 if the sum is 6, 7, 8, or 9 and she loses $2 each time the sum is not 6, 7, 8, or 9 and she keeps playing like this until she's won 7 times.

a. What's the probability she places a total of 12 bets?

b. What's her expected winnings when she stops?

A producer of a new range of energy drink introduces their product at R25 per can. After a month of sales, they introduce a special of R 40 for two cans. A month later they sell the product at the original introductory price. They subsequently introduce another special after another month of R 45 for two. After a month of sales, they re-introduce the original special of R40 for two and this special is kept on-going for numerous months thereafter. Use price elasticity theory to show why, ceteris paribus, the producer settles at the initial special of R 40 for two. In your discussion, include a comment on the type of price elasticity observed with the demand for this energy drink at these prices.
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A producer of a new range of energy drink introduces their product at R25 per can. After a month of sales, they introduce a special of R 40 for two cans. A month later they sell the product at the original introductory price. They subsequently introduce another special after another month of R 45 for two. After a month of sales, they re-introduce the original special of R40 for two and this special is kept on-going for numerous months thereafter. Use price elasticity theory to show why, ceteris paribus, the producer settles at the initial special of R 40 for two. In your discussion, include a comment on the type of price elasticity observed with the demand for this energy drink at these prices.

Refer to the air-conditioning data set aircondit provided in the boot package. The 12 observations are the times in hours between failures of air-conditioning equipment

3, 5, 7, 18, 43, 85, 91, 98, 100, 130, 230, 487.

Use R software

To develop the skill of making and assessing economic arguments and to deepen understanding of the economic concepts introduced in Chapters 4 and 7.

Context: Normative economic statements are economic policy goals and values. There are two types of economic goals: efficiency and equity. Efficiency was discussed in detail in Chapter 4. Here is a nice resource that elaborates on the idea of economic justice In this exercise, we contrast these, thinking about trade-offs that might exist between the two.

Consider the following equity or economic justice statement:

   1. It is unfair to impose draconian sentences for non-violent crimes such as burglary committed by the lower classes.  

And now consider the following efficiency statement:

  2. It is efficient to impose tough sentences for non-violent crimes to reduce these socially undesirable activities.   

Task: Make one substantive but succinct post (50-200 words, no more!) to the Activity 6: Normative Economics (Efficiency vs, Equity) Forum. For your post

• Argue in favor of statement 1, explaining why it is more important than the efficiency goal in statement 2.

OR

• Argue in favor of statement 2, explaining why it is more important than the equity goal in statement 1

OR

• Propose and argue in favor of a policy that addresses both equity and efficiency goals.

ASAP PLEASE!!!! USING JAVA

/*

1. When should you use a do-while loop?

** Write your answer as a multi-line Java comment **

*/

/*

2. Identify the algorithm that matches this code snippet. Your choices are:

  sum and average, counting matches, first match, prompt until match, and

  comparing adjacent values.  Write your answer below the coded.     

  int firstNum = 0;

  int number = scnr.nextInt();

  while (scnr.hasNextInt())

  {

  int input = scnr.nextInt();

  if (input == number)

  {

  firstNum++;

  }

  }

  My answer is:

*/

/*

3.

  Write a Java code snippet with a do-while loop to validate user input. Prompt the

  user to enter a value less than 100. If the user doesn't enter a value less than 100,

ask again until they provide a valid number. Print the valid number to the console.

*/

/*

4. Write a Java code snippet with a nested for loop to

  print five rows of six random integers between 5 and 10 inclusive.

*/

/*

5. Currency conversion: Write a snippet that first asks the user to type

  today's US dollar price for one  Euro. Then use a loop to:

-- prompt the user to enter a Euro amount. (allow decimals)

-- convert that amount to US dollars. (allow decimals)

-- print the amount to the screen, formatted to two decimal places

Use 0 as a sentinel to stop the loop.

*/

A quiz is created by choosing for each question on the quiz one possible version at random from a bank of
possible versions of the question. There are 20 versions in the bank for each question.
A specific question on the quiz involves a one-sample test for the population mean with hypotheses
H0 : µ = 15
Ha : µ > 15
with all versions of the question involving a sample of size n = 35.
Seven versions of the question give the population standard deviation as σ = 3. Six versions give the sample standard
deviation as s = 4 . 2. The remaining versions give the sample standard deviation as s = 5 . 7.
Let c∗ be the critical value for the rejection region on this question. Calculate E [ c∗ ].

26. Match (by number) the following terms with their definitions. Each letter is used only once. Angel

1. Shares held by investors
2. Shares receive priority for future dividends, if dividends are not paid in a given year
3. Shareholders can lose no more than the amount they invested in the company

4. The corporation's own stock that it reacquired 5. The amount invested by stockholders
6. The earnings not paid out in dividends
7. Shares can be returned to the corporation at a predetermined price

8. Shares available to sell
9. Shares actually sold
10. Wealthy individuals in the business community willing to risk investment funds on a promising business venture

investors. ____

Paid-in capital. ____

Issued stock. ____

Authorized stock. ____

Redeemable. ____

Cumulative. ____

Retained earnings. ____

Limited liability. ____

Treasury stock. ____

Outstanding stock. ____

The Process of Memory, match the term and letter with the definition below

a. Chunking

b. Maintenance Rehersal

c. Consolidation

d. Short-Term Memory

e. Elaborative Rehearsal

f. Sensory Registers

g. Encoding

h. Long-Term Memory