Suppose a lottery ticket costs $1and has a jackpot of $1,000 . What must the probability of winning nothing be if the bet is fair?
a. 99%
b. 99.9%
c. 99.999%
d. 99.9999%
b
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Refer to the scenario above. The retailer adds a value of ________ to the production process
A) $3 billion B) $1 billion C) $10 billion D) $5 billion
A stock mutual fund's primary advantage is to allow
A) investors to diversify away systematic risk. B) investors to diversify away all risk. C) investors to diversify away idiosyncratic risk. D) the rich to avoid taxes.
An improvement in the quality of capital would: a. rotate the per-worker production function upward
b. make the per-worker production function flatter. c. shift the per-worker production function downward. d. rotate the per-worker production function downward. e. have no effect on the per-worker production function.
Which of the following explains why monopolists lack allocative efficiency?
a. Because they produce at the quantity where P = MC b. Because they produce at the quantity where P > MC c. Because they invest too much in research and development d. Because they use intellectual property as barriers to entry