EXERCISES FOR MICROECONOMICS TOPIC 1 Economics: An Introduction (Chapters 1 & 2 in the Textbook) EXPLAIN THE FOLLOWINGTERMS ◎ Average benefit ◎ Average cost ◎ Economic surplus ◎ Economics ◎ Microeconomics ◎ Macroeconomics ◎ Marginal benefit ◎ Marginal cost ◎ Normative economics ◎ Positive economics ◎ Rational person ◎ Sunk cost ◎ Opportunity cost ◎ Absolute advantage ◎ Comparative advantage ◎ Attainable point ◎ Unattainable point ◎ Efficient point ◎ Inefficient
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Inventory Exercises 1. At Dot Com‚ a large retailer of popular books‚ demand is constant at 32‚000 books per ear. The cost of placing an order to replenish stock is $10 and the annual cost of holding is $4 per book. Stock is received five working days after an order has been placed. No backordering is allowed. Assume 300 working days a year. a. What is Dot Com’s optimal order quantity (EOQ)? b. What is the optimal number of order per year? c. What is the optimal interval (in working days)
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1. What are the two groups whose results are reflected by the t ratios in Tables 2 and 3? The group studied was twenty-one elderly women with an average age of 77. Ninety percent of the participants had one or more chronic diseases. Table two represents the programs effects on cardiovascular risk factors and table 3 represents program effects on health behaviors. The t ratios reflected on these tables represents the test results between the pretest and 3 months and again between the pretest and
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Christopher Flores March 8‚ 2011 Mr. Haile 1301.155 Exercise for the Body You know exercise is good for you -- but do you know how good? At its most basic‚ exercise is any type of physical exertion we perform in an effort to improve our health‚ shape our bodies‚ and boost performance (Waehner‚ Web). Adults‚ men and women‚ and teens both benefit from exercise and physical activity in many different ways. Exercise should play a key role in everyone’s daily life‚ not only does it boost self
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Question 1 Stdev VAR Period 14% 0.0196 12 a) Check whether it can be asserted with 98% confidence that the underlying yearly real variance of the portfol Sigma^2= 440 Ho: sigma^2 = 440 H1: sigma^2 not = 440 Statistic 4.9 With 98% confidence Lower limit 3.05348411 Upper limit 24.7249703 With 98% confidence we cannot reject Ho since the statistic is inside the acceptance
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Checkpoint Week One Exercise E9-2 E9-2 Trudy Company incurred the following costs. 1. Sales tax on factory machinery purchased $ 5‚000 2. Painting of and lettering on truck immediately upon purchase 700 3. Installation and testing of factory machinery 2‚000 4. Real estate broker’s commission on land purchased 3‚500 5. Insurance premium paid for first year’s insurance on new truck 880 6. Cost of landscaping on property purchased 7‚200 7. Cost of paving parking lot for
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Vocab: Asian sea trading network- Caravels- Goa- Ormuz- dutch trading empire- Vocab: Mindanao- Hongwu- Zhenghe expeditions- Chongzhen- Vocab: Toyotomi Hideyoshi- Deshima- Malacca- Treaty of Gijanti-
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Samuel de Champlain Born in 1574 in a small town on the western coast of france Born a protestant but most likely converted to Catholicism Died in Quebec 1635 on Christmas Day He ventured as far as Spain and the West Indies. He was a geographer for King Henry IV Joined François Gravé Du Pont’s expedition to Canada in 1603 Founded the Canadian city of Quebec on July 3‚ 1608 He is often called the “Father of New France” French explorer‚ navigator‚ cartographer‚ soldier‚ geographer‚ ethnologist
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EXERCISE 11 1. What demographic variables were measured at least at the interval level of measurement? Age (yrs)‚ Income (annual)($)‚ Length of labor (hrs)‚ Return to work (wks)‚ and Number of hours working per week were measured at least at the interval level of measurement 2. What statistics were used to describe the length of labor in this study? Were these appropriate? The variable length of labor were used to describe by ratio data that can be described by using mean‚ range‚ and standard
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HOMEWORK CHPT 8 1. Which of the following statements is CORRECT? ‚e. An option holder is not entitled to receive dividends unless he or she exercises their option before the stock goes ex dividend. 2. Which of the following statements is CORRECT? b. Call options generally sell at a price less than their exercise value. c. If a stock becomes riskier (more volatile)‚ call options on the stock are likely to decline in value. 3. Which of the following statements is CORRECT? d. The
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