It’s new year’s eve, and you’re re-evaluating your finances for the next year. based on previous spending patterns, you know that you spend $1500 per month on average, with a standard deviation of $500, and each month’s expenditure is independently and identically distributed. as a poor college student, you also don’t have any income. how much should you have in your bank account if you don’t want to go broke this year, with probability at least 95%?

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

4. the condition requires that only one of the selected criteria be true for a record to be displayed.

Which of the following is a competitive benefit experienced by the first mover firm in an industry? a. the first mover will be able to achieve a less steep learning curve. b. the first mover will be able to reduce the switching costs. c. the first mover will not have to patent its products or technology. d. the first mover will be able to reduce costs through economies of scale.