The expected yield on an asset with two possible outcomes is equal to the
A) difference between the two outcomes.
B) sum of the possible outcomes multiplied by their respective probabilities.
C) standard deviation of the two outcomes.
D) product of the two outcomes.
B
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According to James and Skinner, in 19th century American manufacturing, ____________ was scarce, but __________________ was even scarcer
a. unskilled labor; capital b. capital; skilled labor c. unskilled labor; fuel sources d. capital; raw materials
Most economists believe that a corporate income tax affects the stockholders of a corporation but not its employees or customers
a. True b. False Indicate whether the statement is true or false
Collusion is most likely to succeed when there are ___________ firms in an industry.
Fill in the blank(s) with the appropriate word(s).
When does a firm's average variable cost exceed the average total cost?
A. never B. when the average variable cost is at its minimum C. when the average fixed cost is at its minimum D. when the average total cost equals the average fixed cost