Suppose Brandon's indifference curves are defined as U = (3/4)?FS + (1/4)?FH, where FS is consumption during sunny weather and FH is consumption during a hurricane. Further suppose Brandon receives 64 units of food when it is sunny and 16 units when there is a hurricane. If the probability of sunshine is ? = 0.75, expected food consumption is:
A. 28.
B. 40.
C. 52.
D. 80.
C. 52.
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Patent and copyright laws encourage
a. creative activity. b. lower prices due to decreasing average total costs. c. competition among firms. d. All of the above are correct.
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(A) 6 months (B) 1 year (C) 5 years (D) 3 years
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A. the percentage change in the inflation rates. B. the percentage change in population. C. the percentage change in nominal GDP. D. the percentage change in the quality of life.