A survey is carried out by the finance department to determine the distribution of household size in a certain city. They draw a simple random sample of 1,000 households. After several visits, the interviewers find people at home in only 653 of the sample households. Rather than face such a high non-response rate, the department draws a second batch of households, and uses the first 347 completed interviews in the second batch to bring the sample up to its planned strength of 1,000 households. The department counts 3,087 people in these 1,000 households and estimates the average household size in the city to be about 3.1 persons. Is this estimate likely too low, too high, or about right

Suppose that two firms produce differentiated products and compete in prices. as in class, the two firms are located at two ends of a line one mile apart. consumers are evenly distributed along the line. the firms have identical marginal cost, $60. firm b produces a product with value $110 to consumers.firm a (located at 0 on the unit line) produces a higher quality product with value $120 to consumers. the cost of travel are directly related to the distance a consumer travels to purchase a good. if a consumerhas to travel a mile to purchase a good, the incur a cost of $20. if they have to travel x fraction of a mile, they incur a cost of $20x. (a) write down the expressions for how much a consumer at location d would value the products sold by firms a and b, if they set prices p_{a} and p_{b} ? (b) based on your expressions in (a), how much will be demanded from each firm if prices p_{a} and p_{b} are set? (c) what are the nash equilibrium prices?