Dana wants to try working as an independent contractor this summer. She has a 50 percent chance that she will make $10,000 and 50 percent chance that she will make nothing. What's Dana's expected income from taking this job?
A) $10,000
B) $7,000
C) $5,000
D) zero
C
Economics
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If marginal cost is less than average cost, average cost must fall when more units are produced.
Answer the following statement true (T) or false (F)
Economics
The maximum number of workers hired is
A. 4.
B. 5.
C. 6.
D. 7.
Economics
The deposit-creation formula can be defined as
A. one minus the required reserve ratio. B. the same as the GDP income multiplier. C. the reciprocal of the required reserve ratio. D. one plus the required reserve ratio.
Economics
Refer to the above table. If the price of the good produced is $5, the marginal revenue product of the 5th worker is
A. $100. B. $3350. C. $500. D. $670.
Economics