Four possibilities have probabilities 0.4, 0.2, 0.2 and 0.2 and values $10, $20, $30, and $40 respectively. The expected value is:
a. $22
b. $24
c. $26
d. $28
a
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Refer to Figure 15-8. Use the figure above to answer the following questions
a. Identify the curves labeled A and B. Identify the curve which contains both point Y and point Z. Identify the curve which contains both point V and point W. b. What is the profit-maximizing quantity and what price will the monopolist charge? c. What area represents total revenue at the profit-maximizing output level? d. What area represents total cost at the profit-maximizing output level? e. What area represents profit? f. What is the profit per unit (average profit) at the profit-maximizing output level? g. If this industry was organized as a perfectly competitive industry, what would be the profit-maximizing price and quantity? h. What area represents the deadweight loss as a result of a monopoly?
The methods of financing state school systems have never been judged to be unconstitutional
Indicate whether the statement is true or false
Using the standard 45-degree line diagram, how does a decrease in investment spending effect the expenditure schedule?
a. It increases the slope of the expenditure schedule. b. It decreases the slope of the expenditure schedule. c. It shifts the expenditure schedule downward. d. It shifts the expenditure schedule upward.
In the United States today, nearly ________ of the population has attained a college degree.
A. 15 percent B. 50 percent C. 30 percent D. 40 percent