Economics

China is reviving the historic Silk Road trade route that runs between its own borders and Europe. Announced in 2013 by President Xi Jinping, the idea is that two new trade corridors — one overland, the other by sea — will connect the country with its neighbours in...

Economics

A red wine’s value depends on the length of time it is aged in oak casks before it is bottled.  If  the relationship between the value of the wine and its length of time in oak casks is given by Value in terms of today’s dollars = $(10 + 5 ln( t + 1)), where t is...

Economics

Oligopoly Name a product that you regularly purchase from a firm that operates in an oligopolistic industry. Explain why the product and firm fit the model of oligopoly. Think about the TV commercials and/or print advertisements that you’ve seen from this industry:...

Economics

1.1) For the data in the following table, construct a bar chart and a pie chart showing the voting shares for the candidates. Candidate Votes A 6000 B 3000 C 800 D 1200 E 1000 total 12000 1.2) For the data in the following table, construct a histogram and the...

Economics

A survey conducted by the American Federation of Teachers found that the average salary of K-12 (kindergarten through 12th grade) teachers in 2007 in the U.S. was $51,009. The same survey reported that the average annual salary for workers in 23 occupations requiring...