Refer to the scenario above. What is the probability of picking a blue ball from the box?
A) 16.66%
B) 33.33%
C) 49.99%
D) 54.44%.
B
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Which of the following will increase the supply of a product?
A) an increase in the price of the product B) an increase in the demand for the product C) an increase in the number of sellers D) a decrease in the demand for the product E) an increase in the price of inputs
For a firm that can effectively price discriminate, who will be charged a lower price?
A) buyers that are members of the smallest market segment B) customers who have an elastic demand for the product C) buyers that are members of the largest market segment D) customers who have an inelastic demand for the product
In arriving at the quantity of output and price of its product, a company
a. chooses either output or price, and consumer demand determines the other. b. has no control over either quantity or price. c. makes two decisions by setting both optimal output and optimal price. d. generally leaves both quantity and price decisions to consumers.
If borrowers and lenders expect a higher rate of inflation, what happens to interest rates?
What will be an ideal response?