1. Use two diagrams (one for Alberta, one for the world) to
explain why the following might be
true: A drought around the world raises the total revenue that
farmers received from the sale of
grain, but a drought only in Alberta reduces the total revenue that
Alberta farmers receive.
2. You have the following information about good X and good
Y:
• Income elasticity of demand for good X: -3• Cross-price
elasticity of demand for good X with respect to the price of good
Y: 2
Would an increase in income and a decrease in the price of good Y
unambiguously decrease the
demand for good X? Why or why not?
3. A price change causes the quantity demanded of a good to
decrease by 30 percent, while the
total revenue of that good increases by 15 percent. Is the demand
curve elastic or inelastic?
Explain.
In: Economics
Given the data shown in the table for a monopolist:
| Output | Price | Total Cost | MC | Total Revenue | Marginal Revenue | |
| 1 | 10 | 10 | ||||
| 2 | 9 | 11 | ||||
| 3 | 8 | 13 | ||||
| 4 | 7 | 16 | ||||
| 5 | 6 | 20 | ||||
| 6 | 5 | 25 |
1. Complete the table -- calculate MC, Total Revenue and MR for all output levels.
2. When the output level is 6 units:
a. Should the monopolist increase, decrease or leave output unchanged?
b. Is MR greater than, less than, or equal to MC?
3. Identify the profit maximizing P and Q.
4. What is the per-unit profit when Q = 2?
5. What is the total profit at the profit-maximizing solution?
6. Suppose barriers to entry overtime significantly decrease. Will the profit maximizing price increase, decrease or stay the same?
In: Economics
In: Finance
The following table shows the number of wins eight teams had during a football season. Also shown are the average points each team scored per game during the season. Construct a 90% prediction interval to estimate the number of wins for teams that scored an average of 27 points a game
|
Wins |
13 |
7 |
3 |
9 |
3 |
7 |
11 |
8 |
|
|---|---|---|---|---|---|---|---|---|---|
|
Points per Game |
25.5 |
18.5 |
20.3 |
24.5 |
12.2 |
22.5 |
22.9 |
23.6 |
Determine the upper and lower limits of the prediction interval.
UPL=
LPL=
In: Statistics and Probability
The production function of a certain country is given by Q = f(K,L) = 90K1/3,L2/3 where Q is the number of output produced in units of millions , K is the capital expenditures in units of $1 million and L is the size of labor force in thousands of worker – hours .
In: Economics
In: Biology
|
In Mendel's pea plants, the genes that code for flower color, seed color and seed shape are on 3 different chromosomes. For flower color, purple is dominant over white, yellow seeds are dominant over green and round seeds are dominant over wrinkled seeds. If you crossed two parents who were heterozygous for all 3 genes, how many purple flowered, round and yellow seeded plants would you expect in the offspring generation? correct answer is 27/64 please show work thank you |
In: Biology
Subject X Y
1 18 22
2 13 19
3 25 35
4 16 24
5 27 56
6 16 25
7 9 30
With an alpha level of .05 and a two-tail test, what would be a significant correlation coefficient for the above scores (what is the critical value)?
Question options:
.729
.7545
.789
.6664
In: Statistics and Probability
X is a Gaussian random variable with variance 9. It is known that the mean of X is positive. It is also known that the probability P[X^2 > a] (using the standard Q-function notation) is given by
P[X^2 > a] = Q(5) + Q(3). (a) [13 pts] Find the values of a and the mean of X
(b) [12 pts] Find the probability P[X^4 -6X^2 > 27]
In: Statistics and Probability
4. Rewrite the following pseudocode segment using a loop structure in the specified languages:
k = (j + 13) / 27
loop:
if k > 10
then goto out
k = k + 1
i = 3 * k - 1
goto
loop
out: . . .
a. C++
b. Python
c. Ruby
Assume all variables are integer type. Discuss the relative merits of the use of these languages for this particular code.
In: Computer Science