If a plaintiff believes there is a 50 percent chance they will win $250,000 and a 50 percent chance they will win nothing (zero), and the litigation cost is $50,000, what is the expected value of the litigation for the plaintiff?
A) $75,000
B) $175,000
C) $50,000
D) $125,000
A) $75,000
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Rank-order the following three gifts in terms of potentially providing the highest utility to the lowest: 1 ) A new video game; 2 ) A gift card to a video game store; 3 ) Cash
A) 1, 2, 3 B) 2, 3, 1 C) 3, 2, 1 D) 1, 3, 2
The opportunity cost of producing one car in Germany is 2,000 bushels of wheat, and the opportunity cost of producing one car in Canada is 1,200 bushels of wheat. The two countries can realize mutual gains from trade if they agree on terms of trade that are
a. greater than 2,000 bushels of wheat per car b. less than 1,200 bushels of wheat per car c. greater than 1,200 bushels of wheat per car and less than 2,000 bushels of wheat per car, and Germany produces wheat d. greater than 1,200 bushels of wheat per car and less than 2,000 bushels of wheat per car, and Germany produces cars e. greater than 1,200 bushels of wheat per car and less than 2,000 bushels of wheat per car, and each country produces both goods
When the money market is drawn with the value of money on the vertical axis, as the price level increases which of the following increases?
a. the quantity of money demanded and the quantity of money supplied b. the quantity of money demanded but not the quantity of money supplied c. the quantity of money supplied but not the quantity of money demanded d. neither the quantity of money supplied nor the quantity of money demanded
New trade theory, which states that countries may have an advantage in exporting because of first-mover advantages, is different from which theory that says countries have export advantages because of factor endowments?
What will be an ideal response?