A share of a restaurant chain can be worth $2 with a probability of 0.40 and $10 with a probability of 0.60. What is the variance of the price of this share?
A) 3
B) 5
C) 6
D) 8.5
C
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When displaced workers require retraining before entering the labor force again, it is the result of ________ unemployment
A) structural B) cyclical C) seasonal D) frictional
A student who just graduated from college but has not found a job would most likely be
A) cyclically unemployed. B) frictionally unemployed. C) seasonally unemployed. D) structurally unemployed.
The above figure shows the reaction functions for two pizza shops in a small isolated town. Firm B producing 100 pizzas and firm A producing 50 pizzas is NOT a Cournot equilibrium because
A) Cournot duopolists agree to share the market equally. B) firm B is not on its best-response function. C) firm A is not on its best-response function. D) neither firm is on its best-response function.
The practice of charging different prices on the basis of varying customer preferences is known as:
a. arbitrage. b. discounting. c. price discrimination. d. rationing.